Median Technologies Reports Record iCRO Backlog and Progresses with eyonis LCS Study

Record iCRO Backlog Achieved

Median Technologies, a leading imaging solutions provider for cancer clinical trials, has reported a record-breaking imaging Contract Research Organization (iCRO) backlog of €74.2 million as of June 30, 2023. This represents a significant 13% increase from the €65.5 million reported at the end of March 2023 1

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. The company's strong performance in the iCRO business segment demonstrates its growing presence in the cancer clinical trials market.

eyonis LCS Standalone Pivotal Study Progress

Alongside the impressive iCRO results, Median Technologies has confirmed that its eyonis Lung Cancer Screening (LCS) standalone pivotal study is on track. The company expects to release the study's readout in August 2024 2

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. This pivotal study is a crucial step in the development and potential commercialization of the eyonis LCS technology, which aims to improve early detection and diagnosis of lung cancer.

Financial Position and Cash Runway

As of June 30, 2023, Median Technologies reported a cash and cash equivalents position of €16.7 million. This financial standing, combined with the anticipated €13.5 million in cash from the European Investment Bank (EIB) loan, is expected to extend the company's cash runway until the end of Q3 2024 3

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. This timeline aligns well with the expected readout of the eyonis LCS standalone pivotal study in August 2024.

Strategic Focus on AI-powered Solutions

Median Technologies continues to emphasize its commitment to developing innovative, AI-powered imaging solutions for cancer diagnosis and treatment. The company's eyonis platform, which includes the LCS technology, represents a significant investment in artificial intelligence and machine learning capabilities to enhance medical imaging analysis and interpretation 1

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Market Impact and Future Outlook

The record iCRO backlog and progress in the eyonis LCS study position Median Technologies favorably in the competitive landscape of medical imaging and cancer diagnostics. As the company approaches the pivotal study readout in 2024, investors and industry observers will be closely watching for potential advancements in lung cancer screening technology and the impact on Median Technologies' market position 2

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