Median Technologies secured a non-binding term sheet with the European Investment Bank (EIB) for a loan of up to €37.5 million and signed a €10 million equity line with IRIS Capital Investment. The funding will support eyonis™ Lung Cancer Screening (LCS) software’s FDA approval, CE marking, and commercialization partnerships in the U.S. The initial €4 million from IRIS, combined with an extension of an existing EIB loan and operational improvements, extends Median’s cash runway into Q4 2025.
This development is crucial for advancing lung cancer diagnostics. Early detection is critical for successful lung cancer treatment, but current diagnostic processes can be inefficient and complex. Median’s eyonis™ LCS software uses AI-powered analysis of low-dose CT scans to detect lung cancer at its earliest stages, potentially improving patient outcomes and reducing healthcare costs associated with late-stage treatment. Funding secures the resources needed to navigate regulatory hurdles and bring this promising technology to market.
The EIB loan is structured in tranches tied to undisclosed milestones, which, if achieved, could extend Median’s financial runway into 2026. The IRIS equity line offers an immediate cash injection and flexibility for Median to control drawdown. Median is also actively pursuing commercialization partnerships with leading U.S. AI diagnostic companies for eyonis™ LCS. In Q1 2025, Median anticipates releasing pivotal data from the RELIVE study, which validates eyonis™ LCS’s clinical performance. Regulatory filings for FDA clearance and CE marking are planned for Q2 2025, with anticipated authorizations in Q3 2025 (U.S.) and Q1 2026 (EEA).
This combination of funding, strategic partnerships, and positive clinical data positions Median Technologies for significant growth. The successful commercialization of eyonis™ LCS could transform lung cancer screening, offering a more efficient and accurate diagnostic tool for healthcare providers, ultimately benefiting patients through earlier detection and improved treatment outcomes. The upcoming milestones, including regulatory approvals and commercial partnerships, will be critical for determining the long-term success of eyonis™ LCS and its impact on the lung cancer diagnostics market.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
