- The disbursement improves the Company’s financial
visibility.
- It will help accelerate the investment program for the iBiopsy®
imaging platform developed by Median Technologies.
- The Company provides outlook for the iBiopsy® program for
2020.
Regulatory News:
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the full release here:
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Median Technologies (Paris:ALMDT), The Imaging Phenomics
Company® announced today that it had received the disbursement of
€15 million, corresponding to the first tranche of the loan granted
by the European Investment Bank (EIB). The loan agreement was
signed on December 18, 2019.
The loan agreement allows the Company to borrow up to €35
million. The second and third tranches, in the amount of €10
million each, may be drawn at the discretion of Median
Technologies, subject to the achievement of a set of operational
and financial performance criteria agreed upon with the EIB.
The objective of this financing, granted by the EIB together
with the European Commission, under the guarantee of the European
Fund for Strategic Investment (so called ”Juncker Plan), is to
support research and innovation projects developed by companies
with substantial growth potential. Median Technologies meets these
criteria as its iBiopsy® technology has the potential to impact the
lives of hundreds of thousands of patients worldwide.
iBiopsy® fundamentals
Median develops imaging tests based on the most advanced AI
technologies. Using imaging biomarkers, iBiopsy® will identify in
an innovative manner the specific signatures of certain diseases
for their early detection, the quantification of their severity and
their monitoring. The non-invasive imaging tests that the company
is developing will help pharmaceutical companies develop new
treatment for cancer and NASH patients. They will also provide key
information to help patients receive treatment that is adapted to
their specific conditions.
Outlook and main elements of the iBiopsy® investment program
for 2020
The funding granted by the EIB will cover the iBiopsy®
investment program over several years. For 2020, the iBiopsy®
roadmap focuses on several priorities: clinical development plan,
product roadmap, key clinical and technological partnerships
supported by a strategic intellectual property policy.
Clinical development and product roadmap: the clinical
development plan will help channel the product deployment strategy
in various areas of high clinical utility, such as:
- A test for the non-invasive assessment of hepatic fibrosis
(NASH), a disease whose prevalence is significantly increasing
worldwide, as well as tests to assess treatment response in
patients,
- A test to identify potential responding patients to
immuno-oncology treatment to enable biopharmaceutical companies
better target the efficacy of their treatment during the phases of
clinical tests and match the right treatment with the right
patients in clinical routine,
- A test for the detection, characterization and prognosis of
HCC.
An assessment of commercial strategies for the reimbursement of
tests and regulatory strategies in particular with the Food and
Drug Administration (FDA) will also be carried out.
Strategic partnerships: like the collaboration agreement
with AP-HP announced on March 2, 2020, Median Technologies will
continue its partnership strategy with healthcare institutions and
biopharmaceutical companies on a global scale, to ensure access to
the best clinical expertise and high-quality imaging data. These
partnerships, some of which are already being discussed, will be
announced upon their signature. The partnership strategy will also
cover agreements with technology companies, to enable the roll out
of the iBiopsy® platform by targeted sectors: healthcare
institutions for clinical routine and biopharmaceutical companies
for clinical research and development.
Intellectual property protection strategy: Median
continues to develop its differentiating assets with the
implementation at the end of 2019 of a strategy to pursue several
patent submissions on iBiopsy®. The innovations developed in 2019
are already the subject of several patents pending in Europe, the
United States, China and Japan.
“This first disbursement of the loan granted to Median in
December 2019, before the coronavirus crisis, proves the continuous
support of the European Investment Bank to the Medtech sector and
the health system in general”, said Ambroise Fayolle,
Vice-President of the EIB. “To cope with the health crisis that
hits all Europe, EIB has decided to increase the financing of the
health sector to €5 billion which will enable innovative companies
like Median – pioneer in AI and health – to become a leading
European company”
“This initial €15 million disbursement from the EIB allows us to
strengthen our financial visibility and considerably step up our
investment plan for iBiopsy®”, said Fredrik Brag, CEO and
co-founder of Median Technologies. “Our current effort to solidify
the clinical development plan will drive the iBiopsy product
roadmap right through to regulatory filing which we expect to take
place in 2021”, he added.
As of the date on which this first loan disbursement is received
from the EIB, Median Technologies intends to provide quarterly
updates on iBiopsy®, to ensure regularly updated information on its
development to the Company’s various audiences.
About the European Investment Bank (EIB): created by the
Treaty of Rome and founded in 1958, the EIB is the bank of the
European Union, which, together with its dedicated SME support
subsidiary the European Investment Fund (EIF), forms the EIB Group.
The EIB Group plays a key role in recovery through investment in
Europe, and in France in particular. Since 2012, supported by its
expertise and the financial attractiveness lent by its AAA rating,
the EIB Group has stepped up its activity in France and allocated
€8.5 billion of new financing in 2019 to companies and to support
innovation. It also provides financial support to projects in
strategic sectors such as measures in favor of the climate, energy,
healthcare, housing, youth education and training infrastructure.
The EIB Group manages the Investment Plan for Europe, more commonly
known as the Juncker Plan.
For further information: www.bei.org
About the Investment Plan for Europe: the Investment Plan
for Europe, also known as the “Juncker Plan”, aims mainly to remove
obstacles to investment, provide greater visibility to investment
projects by offering them with technical assistance, and make
smarter use of new and existing financial resources. In April 2020,
the Investment Plan had already mobilized €466 billion in
investments across Europe, of which €78.2 billion in France.
1,140,000 SMEs in Europe have already received support.
About Median Technologies: Median Technologies provides
innovative imaging solutions and services to advance healthcare for
everyone. We leverage the power of Imaging Phenomics to provide
insights into novel therapies and treatment strategies. Our unique
solutions for medical image analysis and management in oncology
trials and iBiopsy® for imaging phenotyping, together with our
global team of experts, are advancing the development of new drugs
and diagnostic tools to monitor disease and assess response to
therapy. Median Technologies supports biopharmaceutical sponsors
and healthcare professionals around the world to quickly and
precisely bring new treatments to patients in need. This is how we
are helping to create a healthier world.
Founded in 2002, based in Sophia-Antipolis, France, with a
subsidiary in the US and another one in Shanghai, Median has
received the label “Innovative company” by the BPI and is listed on
the Euronext Growth market. ISIN: FR0011049824– ticker: ALMDT.
Median is eligible for the French “PEA-PME” investment scheme. For
more information: www.mediantechnologies.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200420005408/en/
Median Technologies Emmanuelle Leygues Head of Corporate
Communications +33 6 10 93 58 88
emmanuelle.leygues@mediantechnologies.com
Press - ALIZE RP Caroline Carmagnol +33 6 64 18 99 59
median@alizerp.com
Investors - ACTIFIN Ghislaine Gasparetto +33 1 56 88 11
11 ggasparetto@actifin.fr
European Investment Bank (EIB): Cyrille Lachèvre + 33
(0)6 20 42 12 08 mailto:c.lachevre@ext.eib.org
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