4DMedical (4DX) Investor Update summary

Business and Product Update

• CT:VQ, a non-invasive lung imaging software, is FDA-cleared and uniquely visualizes blood flow without contrast injections, streamlining workflow and improving patient experience.

• The addressable U.S. market is estimated at $1.15 billion, focused on one million annual VQ scans, with global opportunities and expansion into related imaging markets.

• CT:VQ offers significant operational and economic advantages, reducing procedure time and infrastructure needs, and enabling higher revenue per minute for hospitals.

• The technology can be applied retrospectively to archived CT scans, allowing additional reimbursable analyses and supporting longitudinal patient care.

• CT:VQ delivers quantitative ventilation-perfusion data from routine non-contrast CT scans, eliminating the need for radiotracers and integrating with existing CT protocols.

Strategic Partnership and Commercial Agreement

• Philips will distribute CT:VQ across North America with a minimum order commitment of US$10m over two years, providing revenue visibility through milestone-based financial commitments.

• Dedicated Philips sales and clinical teams will target US and Canadian healthcare systems, with joint marketing and co-branding initiatives launching at RSNA 2025.

• The Philips partnership includes exclusivity for U.S. government sales, notably the VA, and leverages their extensive U.S. hospital network and PACS install base.

• Broad accessibility leverages 14,500 CT scanners in the US, extending advanced imaging to rural and community facilities.

Market Traction and Competitive Positioning

• Strong interest and demand from leading U.S. hospitals and radiologists, with a strategy to secure top-tier academic medical centers as reference customers.

• Over 100 patents and a large, experienced R&D team provide a robust competitive moat, with ongoing innovation and regulatory advantages over AI-based competitors.

• The company is well-funded, with cash reserves and additional capital expected from exercised options.

• Reimbursement rates are favorable, with Medicare and private insurers, and the product's workflow benefits are a key driver for hospital adoption.