4DMedical Ltd (ASX:4DX) has been awarded $1.9 million from the Federal Government under the latter’s CRC-P (Cooperative Research Centres Projects) grant program to fund its expansion and ramp-up of clinical trials for CT:VQ, being run in collaboration with I-MED and Macquarie University.
The clinical trialling project – entitled ‘CT:VQ – A Better Pulmonary Perfusion Test’ – focuses on technology which allows data related to airflow (ventilation, or V) and blood flow (perfusion, represented by Q) to be extracted from a CT scan.
Being able to do so would sidestep the use of any radioactive tracer or contrast, and facilitating the quantifying of data about V and Q – and differentiating between them – is an important diagnostic tool.
The trials for 4DMedical’s CT:VQ technology are specifically attempting to provide the evidence necessary to empower physicians to substitute 4DMedical’s CT:VQ for nuclear medicine VQ scans.
The U.S. market size for nuclear medicine VQ scans is over US$1 billion, with approximately
one million tests run each year at an average cost of over US$1,000 per scan.
Managing director, CEO, and founder Andreas Fouras said the funding would help propel the testing further and help 4DMedical wok towards commercialisation of the technology.
“CT:VQ is set to disrupt a billion dollar segment of respiratory diagnostics by replacing nuclear VQ imaging with a technology that is faster, safer, cheaper, more convenient and more accessible,” he said.
“As a win, win, win change in healthcare practice, CT:VQ represents a once in a generation opportunity.”
4DMedical shares rose on the news, and at 10:52 AEDT, they were trading at 53.5 cents – a rise of 3.88% since the market opened.
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