4DMedical Raises $150M to Accelerate US Launch of FDA-Cleared CT:VQ Lung Imaging

A Breakthrough in Lung Imaging

4DMedical Limited, an ASX-listed medical imaging innovator, has unveiled a significant capital raise of AU$150 million to fuel the US commercialisation of its pioneering CT – VQ technology. This FDA-cleared, non-contrast ventilation-perfusion imaging software represents a disruptive alternative to traditional nuclear V/Q scans, promising enhanced patient comfort, faster procedures, and broader accessibility.

Founded in Melbourne in 2013, 4DMedical has steadily built a portfolio of patented pulmonary imaging technologies. The recent FDA 510(k) clearance for CT – VQ marks a transformational milestone, positioning the company to tap into a US market with over one million ventilation-perfusion scans annually and a global opportunity exceeding US$2.6 billion.

Strategic Partnership with Philips

Central to 4DMedical's growth strategy is its reseller agreement with Philips, a global healthcare technology leader. This collaboration expands Philips’ existing North American agreement to include CT – VQ, supported by dedicated business development and clinical specialists. Joint marketing initiatives, including a major launch event at the 2025 Radiological Society of North America conference, aim to accelerate market awareness and adoption.

The partnership also targets lucrative government healthcare contracts, notably with the US Veterans Affairs (VA) and Department of Defense (DoD). The VA’s recent funding boost under the PACT Act, which allocates US$280 billion over ten years for veteran health screening, aligns closely with 4DMedical’s technology capabilities. CT – VQ’s non-invasive, outpatient screening potential offers a cost-effective alternative to invasive lung biopsies, addressing a critical need for respiratory disease detection among veterans.

Capital Raise Details and Use of Funds

The AU$150 million institutional placement was executed at $3.80 per share, resulting in a modest 3.86% dilution by repurposing existing shares. The raise comprised a $79.1 million placement of new shares and a $70.9 million block trade of existing shares. Bell Potter Securities Limited led the placement, which attracted strong demand from global long-only fund managers and existing shareholders.

Proceeds will primarily accelerate US commercialisation efforts, including sales, marketing, and business development focused on expanding CT – VQ adoption across academic medical centres and health systems. Additional funds will support customer success initiatives, clinical workflow integration, ongoing research and development to maintain technological leadership, and general corporate purposes.

Momentum and Market Outlook

4DMedical reports robust momentum within top-tier US academic medical centres, with a significant portion actively quoting or contracted for CT – VQ adoption. The company’s installed base and pipeline suggest rapid expansion potential, bolstered by Philips’ extensive commercial reach and advocacy.

With over 100 patents and nine FDA-cleared products, 4DMedical is well positioned as a disruptor in pulmonary imaging. The CT – VQ technology’s compatibility with existing CT scanners enables instant scalability without requiring new infrastructure, a key advantage over incumbent nuclear imaging methods.

As healthcare providers seek cost-efficient, patient-friendly diagnostic tools, 4DMedical’s CT – VQ stands out for its clinical and economic benefits. The company’s strategic alignment with government healthcare initiatives and Philips’ established partnerships further enhances its growth prospects.