4DMedical, a respiratory imaging technology provider, has received $9.4 million from the Medical Research Future Fund (MRFF) after successfully reaching a production milestone for the XV Scanner, the world’s first dedicated lung scanner.
The payment was made as part of a $28.9 million investment from the federal government, which was announced in March 2021.
4DMedical has successfully integrated its proprietary XV Technology with purpose-built hardware to develop the XV Scanner.
The solution is designed to provide quantitative data on respiratory function through an automated scanning process.
Additionally, the product also offers multiple pathways that drive the company’s commercialisation plans.
4DMedical’s XV Scanner is intended to reduce costs for healthcare producers by increasing throughput. It also facilitates access to XV Technology for more patients in order to drive the uptake of the company’s core software-as-a-service product.
The scanners are made in Port Melbourne at 4DMedical’s manufacturing facility located within the Fishermans Bend Innovation Precinct.
The first prototype was delivered to the University of New South Wales at the Prince of Wales Hospital in Sydney in March 2022.
The XV Scanner is currently the centrepiece of 4DMedical’s exhibit at RSNA 2022, the world’s largest conference for the medical imaging sciences, held by the Radiological Society of North America in Chicago.
“The XV Scanner integrates 4DMedical’s core XV Technology software into the world’s first purpose-built respiratory hardware, enabling scanning in high volume and enhanced commercial returns. Receipt of this payment in full reflects the Company’s ability to deliver as promised,” said Andreas Fouras, chief executive officer and founder of 4DMedical.
“We are proud to showcase the scanner at the world’s premier medical imaging conference and even more excited by the extremely positive feedback, validating management’s confidence in this product’s capacity to drive revenues.”
