4D Medical Ltd (ASX: 4DX) has secured a contract with UC San Diego Health – one of the US's pre-eminent academic health systems – to use its CT:VQ technology for clinical use in lung imaging.
Shares in the biotechnology company jumped on the news, trading 9.3% higher at $4.58 – not far off their record high of $4.65 – in early trade on Wednesday.
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Prestigious institution
4D Medical said in a statement to the ASX that UC San Diego Health (UCSD) was "one of the nation's leading academic health systems and has consistently ranked in the top 10 in the US for pulmonary and lung surgery''.
The company added:
UCSD has commenced clinical use of CT:VQ under a structured launch framework whereby introductory pricing will apply through March 31, supporting early clinical adoption and workflow establishment, before transitioning to full commercial terms. UCSD joins Stanford University, University of Miami, and Cleveland Clinic as the fourth U.S. academic medical centre (AMC) to deploy CT:VQ™ for clinical use. This expanding network of leading AMCs powers 4DMedical's strategic approach of establishing reference sites at the nation's most prestigious institutions, creating a powerful foundation for broader market adoption.
4D Medical said it had been slightly more than four months since it received US Food and Drug Administration clearance to market its technology, and in that time, it had secured contracts with four of the most respected academic medical centres in the US.
The company added:
These deployments demonstrate the compelling clinical value proposition of CT:VQ™: eliminating the need for radioisotope and contrast administration, providing superior image resolution compared to nuclear medicine, seamlessly integrating into existing CT imaging workflows, and enabling access to reimbursement pathways that support sustainable clinical adoption.
Strong momentum
4D Medical founder and Managing Director Andreas Fouras said the new contract win was a "powerful validation'' of the company's technology.
He added:
In just over four months since FDA clearance, we've established CT:VQ™ at four of America's leading academic medical centres: Stanford, University of Miami, Cleveland Clinic, and now UCSD. This rapid adoption by elite institutions demonstrates both the transformative potential of CT:VQ™ and the strength of our go-to-market execution. These prestigious AMCs serve as powerful anchors for our commercialisation strategy. Combined with our Philips partnership and growing commercial pipeline, we are building unstoppable momentum as we establish CT:VQ™ as the new standard of care in pulmonary imaging.
4D Medical was valued at $2.2 billion at the close of trade on Tuesday. The company has increased in value almost 20-fold over the past 12 months, from lows of just 22.5 cents.
