23 Mar Series B capital round update
Melbourne, Australia, March 2018: 4Dx Limited is pleased to announce that the $5M Series B capital round is fully subscribed. However, based on continued strong interest in the round, the Board has agreed to extend the offer period for a limited time to accept oversubscriptions.
4Dx Chairman & CEO, Andreas Fouras, said, “4Dx is extremely pleased with the response to our capital raise. The Australian investment community has again demonstrated its strong support for our value proposition and acknowledged the progress made over the past 24 months.”
“We believe this result reaffirms the demand for new analytical technologies to improve global lung health. The continued enthusiastic reception 4Dx receives gives us many options for future growth capital, including a potential listing”.
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 values 4Dx at $47m.
Funds from the Series B investment round will be used to take the company’s core 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 this year.
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.
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 as well as a clinical studies over the past 18 months.