14 Jul : The Sydney Morning Herald : Lung tracker gears up for ASX launch
Home grown lung tracker biotech 4DMedical has confirmed it expects to hit the ASX boards on August 14th after it completes a $50 million IPO with shares on offer at 73c each.
The company’s XV Technology platforms helps doctors track respiratory illnesses with more accuracy by showing a patient’s lung motion and air flow with each breath.
In May its ventilation software product was got the FDA green light for use in the US. Founder Professor Andreas Fouras said despite the tough market conditions facing ASX-listed companies, 4DMedical was well-placed to list and its technology could prove incredibly useful in the COVID era.
“We are disappointed and frustrated with the fact this [pandemic] is happening, we have been building something specific to suit these current times,” he told this masthead this morning.
The business will be worth close to $200 million on listing.