Median Technologies Reports Its Business Activity for the First Half of 2023 and Announces the First Step of Its Refinancing Plan
Summary
• Onboarding of academic sites involved in the pivotal validation plan in progress for the iBiopsy® LCS CADe/CADx software as medical device. • Convertible bonds for an amount of €10 million with a maturity of 7 years to be subscribed for by long-term shareholder Celestial Successor Fund, LP. “The second quarter of 2023 confirms the recovery of our iCRO activity, which has seen our revenue and order backlog increase compared with the preceding quarters”, Fredrik Brag, CEO and founder of Median Technologies said. “When it comes to our iBiopsy® LCS CADe/CADx Software as Medical Device, the design of our pivotal validation plan has been finalized since March 2023. Moreover, the initiatives that we announced in April 2023 to reinforce the Company’s equity are bearing fruit with a securities purchase agreement signed with our long-term shareholder, Celestial Successor Fund, LP, for the issuance of convertible bonds for an amount of €10 million with a maturity of 7 years.
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