As of December 31, 2021, Median Technologies’ revenue was €20.5 million, a 52% increase compared to 2020 revenue. The order backlog as of December 31, 2021, was €58 million, a €6.3 million increase compared to December 31, 2020 and a €3,8 million increase compared to September 30, 2021. As of December 31, 2021, cash and cash equivalents were €39 million, compared to €16 million as of December 31, 2020.

iBiopsy® Lung Cancer Screening detection performance reaches 94.9% sensitivity for a false positive rate of 1 per CT scan, a performance superior to that of lung CADe systems currently on the market. The particularly high sensitivity of iBiopsy® LCS is a prerequisite for implementing a reliable detection and diagnosis solution for lung cancer screening programs. After detection, the diagnostic component of iBiopsy® LCS characterizes nodules as malignant or benign. Its sensitivity/specificity levels were announced in 2021 and are still unparalleled today.

Business continues to grow at a sustained pace in the first half of 2021 – Two highly impactful announcements for iBiopsy® and iCRO business units during Q3, 2021 -Third quarter revenue of €5.3m, up by 51% on the third quarter of 2020 – Cash and cash equivalents of €42.6m as of September 30th, 2021

This is the result of the renegotiation of terms of an existing Master Service Agreement (MSA) with this major big pharmaceutical company. The new scope of the MSA covers Phase III clinical trials for major indications in oncology and the terms are valid for 3 years. This partnership will contribute to sustain Median’s future bookings and revenues growth.