Regulatory News:
Median Technologies (Paris:ALMDT) announces that it has received approval from the European Investment Bank to draw down the final tranche of the loan granted on December 18, 2019, and renegotiated at the end of 2022.
The final tranche of €8.5m will be disbursed early January 2024. This financing has a maturity of five years and bears interest at 5% capitalized. Median has simultaneously issued 300,000 warrants, at an exercise price of €4.465, with an expiry date in 2035.
” Tranche B of the EIB’s €8.5m financing will enable us to continue our investment plan for eyonis™1 and its early cancer diagnosis programs. Combined with our other fundings of 2023, this transaction strengthens our financial visibility and extends our cash flow horizon to the first half of 2025,” said Fredrik Brag, CEO, and founder of Median. “Median Technologies is a world leader in the development of AI-based medical imaging solutions. These solutions are revolutionizing patient diagnosis, treatment, and survival, as well as the development of new cancer therapies. Whereas the impact of AI is a daily subject of discussion and is often much feared, in our sector, AI is set to have a colossal impact on saving patients’ lives. In 2023, Median continued to develop its solutions for patient care and drug development, and these initiatives will continue to fuel our newsflow in the first half of 2024, and beyond”, he adds.
About Median Technologies: Median Technologies provides innovative imaging solutions and services to advance healthcare for everyone. We harness the power of medical images by using the most advanced Artificial Intelligence technologies, to increase the accuracy of diagnosis and treatment of many cancers and other metabolic diseases at their earliest stages and provide insights into novel therapies for patients. Our iCRO solutions for medical image analysis and management in oncology trials and eyonis™, our AI/ML tech-based suite of software as medical devices (SaMD), help biopharmaceutical companies and clinicians to bring new treatments and diagnose patients earlier and more accurately. This is how we are helping to create a healthier world.
Founded in 2002, based in Sophia-Antipolis, France, with a subsidiary in the US and another one in Shanghai, Median has received the label “Innovative company” by the BPI and is listed on Euronext Growth market (Paris). FR0011049824– ticker: ALMDT. Median is eligible for the French SME equity savings plan scheme (PEA-PME). For more information: www.mediantechnologies.com
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1 Formerly known as iBiopsy®.
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