The SPP and Placement combined raised $45 million (before costs) and is being deployed to strengthen and accelerate the Company’s commercialisation strategy.
Life support for of $1.1M - 4DX will have to grow profitability eventually though.....
We are extremely excited to have been awarded the $1.1 million CTCM funding announced today. Combining both functional components of airflow and blood flow into a single analytical process represents a dramatic advancement in respiratory healthcare, providing the ideal test for phenotyping, early detection and evaluation of specific treatment responses for high-impact lung diseases such as Chronic Obstructive Pulmonary Disease (COPD), Cystic Fibrosis, pulmonary hypertension and pulmonary embolism.
A total of 28,044,096 fully paid ordinary shares New Shares will be issued to SPP applicants at an issue price of $0.89 per New Share. The New Shares issued will represent 8.1% of 4DMedical’s issued capital and will rank equally with existing shares on issue from their date of issue.
The New Shares issued under the SPP are expected to be allotted on Wednesday, 31 May 2023 and are
expected to commence trading on ASX on Thursday, 1 June 2023. The total funds raised, comprising the Placement ($20m) and SPP ($25m), amount to $45m (before costs).
Proceeds raised under the Placement and SPP will be used primarily to accelerate commercialisation of 4DMedical's respiratory imaging software and significantly strengthen the Company's balance sheet. Funds raised leave the Company with a cash balance of approximately $79.6m after costs as at 31 March 2023 on a proforma basis
Fouras - CEO (2012) circa 23% voting power.
1 Month ago 4DMedical (ASX:4DX) signs first US hospital SaaS contract https://youtu.be/ef8j0lr2JUI
Dr Andreas Fouras
Chief Executive Officer,Managing Director (Since 2012)
Bio
Dr Fouras is the founder, Managing Director and Chief Executive Officer (CEO) of the Group. He is also the Groups Chief Technology Officer being the inventor of its core XV Technology, maintaining a direct role in its evolution and development. Andreas career in academic research has a foundation gained within the Department of Mechanical and Aerospace Engineering at Monash University in Melbourne, Australia. This research into wind tunnel quantification garnered recognition as a young leader in the scientific discipline of fluid dynamics, developing a number of new approaches to the imaging of gas and liquid flow. Following completion of a Masters degree by research and a Doctorate (PhD), Andreas rapidly rose to the position of Professor of Mechanical and Aerospace Engineering and Director of the Laboratory for Dynamic Imaging.
He received accolades from a wide range of premier research bodies including the National Health and Medical Research Council (NHMRC) and the American Asthma Foundation. Andreas applied a novel concept to clinical use through the development of XV Technology, uniquely measuring airflow within the breathing lungs at every stage of the breath, providing both high spatial and temporal resolution at very low dose.
This research has been documented in over 100 peer reviewed publications and resulted in 72 patent applications with 40 granted. In December 2012, Andreas founded 4DMedical resulting from a deeply held personal and professional desire for his work to reach and positively influence as many people afflicted by respiratory compromise as possible, through global clinical translation.
Andreas leadership is evidenced as a commissioned officer in the Australian Army (Infantry) and through the prestigious Australian Davos Connections Australian Leadership Award for 2013. The focus of Andreas substantial intellect and energy is now concentrated upon applying business acumen, drive and innovation to the successful commercialisation of 4DMedicals technologies. Andreas is a member of the Medical Advisory Committee.
