22 Nov 4Dx To Close Series A Capital Raise
Melbourne, Australia, November 23, 2016: 4Dx Limited is pleased to announce that, due to an overwhelming response, as of 5pm, Friday, 9th December, 2016, the company’s $4m Series A capital round will be officially closed.
It is anticipated that the round will close oversubscribed.
4Dx founder and Chairman, Andreas Fouras, said, “4Dx is extremely pleased with the response to our capital raise. The domestic investment community has demonstrated a deep understanding of our proposition, and the value inherent in it.”
“We believe this result indicates a very clear acceptance of the need for 21st century diagnostic technology in the medical marketplace. The enthusiastic reception 4Dx has received delivers 4Dx a broad base of investors and makes us highly optimistic about the prospects of a second round of capital raising in early 2017.”
4Dx has invented a four-dimensional, non-invasive, software-based imaging technology that maps regional lung motion and air flow as the lungs breathe.
The capital round places a valuation of $36m on 4Dx Limited.
Funds from the Series A investment round will be used to take the company’s first software product to market, including clinical studies to further validate the product, as well as the development and submission of its first application for U.S. Food and Drug Administration (FDA) clearance.
The respiratory diagnostic sector represents a global market of over US$25 billion per annum, and 4Dx has a clear plan to address this market, building the company one product at a time.
The 4Dx technology has been extensively patented, with core patents granted in key jurisdictions including the US and Australia. It has been proven through published preclinical studies over the past 10 years.