4DMedical (ASX:4DX) has secured $1.9 million in non-dilutive funding through the Cooperative Research Centres Projects grant program. This financial support will expand and accelerate clinical trials for their CT:VQ technology, in collaboration with I-MED and Macquarie University.
4DMedical has been awarded $1.9 million under the CRC-P grant program to advance their CT:VQ technology, which seeks to provide a faster, safer, and cost-effective alternative to nuclear medicine VQ scans. This technology uses standard CT scans to obtain quantitative data without radioactive tracers, potentially transforming the billion-dollar market for pulmonary diagnostics. The funding will support essential clinical trials aimed at securing FDA and TGA approvals by the end of 2024 and filing in 2025. 4DMedical is committed to building clinical evidence for regulatory approval and market adoption, which could significantly impact respiratory diagnostics and healthcare costs.
Andreas Fouras, MD/CEO and Founder of 4DMedical, highlighted the disruptive potential of CT:VQ and expressed enthusiasm for the government's support.