Radiopharmaceutical company Cyclopharm (ASX: CYC) has secured a multi-site agreement for the supply of its flagship Technegas lung imaging platform to the University of Pennsylvania Health System (UPHS), covering 11 clinical locations across the US states of Pennsylvania and New Jersey.
The agreement provides for two Technegas installations at the University of Pennsylvania Hospital and at the Perelman Centre for Advanced Medicine, along with contracted installations across a further nine sites in the UPHS network over time and potential for expansion to additional UPHS affiliated sites.
UPHS is seen as a premier academic health system, and Cyclopharm regards the agreement as a “major lighthouse win” in the Philadelphia market and a strong step toward broader expansion across the US mid-Atlantic and northeast regions.
Consistent with Cyclopharm’s commercial model, revenue will be driven by a combination of installation, annual support, and recurring per-patient consumables usage.
Lung Imaging Solution
Technegas is a broad-spectrum diagnostic lung imaging solution for the visualisation of pulmonary ventilation and lung function.
It is based on the ultra-fine dispersion of radioactive-labelled carbon produced by using dried Technetium-99m in a carbon crucible, which is then micro-furnaced for a few seconds at around 2,700°C.
The resultant gas-like substance is inhaled by the patient (lung ventilation) via a breathing apparatus, allowing multiple views and tomography imaging under a gamma or single photon emission computed tomography camera for evaluating functional ventilation imaging.
Technegas has historically been used in the diagnosis of pulmonary embolism, however recent advancements in complementary technology, multimodality imaging, and analytical software have enabled it to be utilised for other conditions.
These include chronic obstructive pulmonary disease, asthma, and pulmonary hypertension, as well as interventional applications such as lobectomies in lung cancer and lung volume reduction surgery.
US Expansion Milestone
Cyclopharm managing director James McBrayer said the UPHS contract represented a significant milestone in the company’s US expansion.
“Multi-site agreements of this nature are central to driving scalable, recurring revenue growth and improving operating leverage as utilisation increases,” he said.
“UPHS is a high-quality academic health system with national influence across clinical practice and research.”
“Establishing Technegas across its locations provides immediate scale and positions us for deeper institutional penetration over time.”
