- Global Pharma News & Resources

Median Technologies announces the signing of a € 35 million finance contract with the European Investment Bank (EIB)

·         This finance contract will enable Median Technologies to accelerate its investment program for the iBiopsy® imaging phenomics platform

·         Median expects the disbursement of the first tranche of € 15 million during the first semester of 2020

Sophia Antipolis, France - Brussels, Belgium - Median Technologies, The Imaging Phenomics Company (Euronext Growth - ALMDT) and the European Investment Bank (EIB) announced today the signing of a € 35 million finance contract, supported by the European Strategic Investment Fund (EFSI) or "Juncker Plan". News about ongoing negotiations for this loan was previously released on May 15, 2019.


This financing, divided into three (3) tranches, will enable Median Technologies to enhance and accelerate its iBiopsy® imaging platform investment program for the coming years. Median is a cutting-edge AI and data sciences technology provider for precision medicine. Through its proprietary iBiopsy® platform, Median is developing non-invasive imaging biomarkers to enable the identification of certain chronic disease - including cancer- signatures, to dramatically enhance early detection, severity quantification and monitoring of diseases. The objective is on one hand to guide clinicians in their therapeutic decisions in the context of precision and predictive medicine and, on the other hand, to provide disruptive decision tools to foster medical innovations and new therapy development.

Median will request the disbursement of the first tranche of € 15 million during the first semester of 2020. The contract then provides for the disbursement of the second and third tranches (of € 10 million each) in the coming years, at Median Technologies' discretion, subject to the completion of certain conditions precedents specified in the finance contract. The repayment of this financing will occur, in a single installment, at the end of a five -year period after the disbursement date. The finance contract is supplemented by the payment of various interests and fees and by a guarantee granted by Median Technologies, Inc. (Median Technologies' US subsidiary).

Pursuant to the warrants issuance agreement, Median Technologies will issue 800,000 warrants for the benefit of the EIB on the date of disbursement of the first tranche and, where appropriate, 300,000 additional warrants on the date of disbursement of the second tranche, at a subscription price of € 0.01. The exercise price of these warrants  will be determined based on the price of one or more fundraising(s) of at least € 15 million carried out within 15 months after the subscription date to which an increasing discount will apply based on time, with a minimum of € 2 from the 16th month. The lifespan of these warrants is 15 years.

The warrants issuance agreement includes an exercise parity adjustment clause which could apply, under certain conditions,in case of capital increase. The EIB will be granted with the possibility, under certain conditions, to request Median Technologies to buy back its warrants for a maximum amount of € 50 million and, beyond that amount, to find a buyer and pay interests on the price of the remaining warrants. The total amount of warrants (for the two tranches) would represent up to 7.44 % of the share capital fully diluted.

The objective of this financing, granted by the EIB together with the European guarantee within the framework of the Juncker plan, is to support research and innovation projects developed by companies with substantial growth potential. Median Technologies meets these criteria as its technologies have the potential to impact the lives of hundreds of thousands of patients worldwide.

The agreement was signed by the European Investment Bank and Fredrik Brag, CEO and co-founder of Median Technologies on December 18, 2019.

"Through the Juncker Plan impulse, EIB has become a key player in financing innovative companies, in particular companies involved in the domains of Health and Artificial intelligence, which are the core activities developed by Median Technologies ", said EIB Vice-President, Mr. Ambroise Fayolle

Fredrik Brag, CEO and co-founder of Median Technologies added: "We are very pleased to announce the signing of the finance agreement with the European Investment Bank. The EIB financing will allow us to accelerate investing in the development of our iBiopsy® platform with a strong focus in oncology and liver disease. We are the next generation precision medicine company focused on helping conquer cancer and other diseases through our proprietary routine imaging tests.  These novel non-invasive imaging tests could dramatically impact early detection, diagnosis and monitoring of diseases.  We leverage our capabilities in technology, artificial intelligence, clinical development, regulatory and reimbursement to drive the development and commercial adoption of our future iBiopsy® product line, improve patient clinical outcome and lower healthcare costs." 

Editor Details

  • Company:
    • Median Technologies
  • Name:
    • Median Technologies
Last Updated: 19-Dec-2019