Median Technologies has secured financing to support its AI-powered lung cancer screening software through anticipated regulatory approvals and commercial launch. The company announced today that it has received €19 million from the European Investment Bank, representing the first tranche of a €37.5 million loan facility executed in July 2025.
Key Points
- Median Technologies develops eyonis®, an AI-powered Software as a Medical Device suite for early cancer diagnosis, along with iCRO services that provide medical image analysis and management for oncology clinical trials. The company’s eyonis® LCS lung cancer screening product is awaiting 510(k) clearance and CE marking.
- The €19 million disbursement is part of a three-tranche loan structure designed to support the commercial launch of eyonis® LCS in both U.S. and European markets. Each subsequent tranche is subject to conditions related to business performance, equity financing, and warrant issuance.
- The company simultaneously repaid its 2019 EIB loan facility and issued warrants in connection with the new financing. Following this transaction and a recent capital increase, Median has extended its cash runway with potential for additional funding if warrants are exercised.
- eyonis® LCS is pending 510(k) clearance and is not yet available for sale in the United States.
The financing aims to position Median to commercialize its lung cancer screening software following anticipated regulatory approvals and to expand the eyonis® suite to additional cancer indications.
The Data
- The total EIB loan facility amounts to €37.5 million across three tranches: €19 million (Tranche A), €8.5 million (Tranche B), and €10 million (Tranche C). The first tranche carries 5% interest, six-year maturity, and a three-year grace period during which principal repayment is not required.
- Median repaid €20.7 million on October 17, 2025, corresponding to the first tranche of its 2019 EIB loan facility, which had been drawn down in April 2020 with maturity extended from April to October 2025.
- The company issued 3,403,164 warrants at an exercise price of €2.764 with thirty-year maturity in connection with the EIB loan. Combined with the August 2025 capital increase of €23.9 million, the company’s cash position extends through Q4 2026. Full exercise of share warrants from the capital raise could generate an additional €51.7 million.
- Regulatory decisions for both U.S. 510(k) clearance and European CE marking are expected in Q1 2026.
Industry Context
We have been collaborating with the European Investment Bank since 2019, and this long-standing partnership is continuing to deliver tangible results.
Fredrik Brag, CEO and Founder of Median Technologies
Median Technologies manufactures AI-powered software intended for early cancer diagnosis and provides imaging analysis services to pharmaceutical companies conducting oncology drug trials. The company’s eyonis® suite uses artificial intelligence and machine learning to analyze medical images, with the lung cancer screening application (eyonis® LCS) currently under regulatory review in both the United States and Europe.
The French-based company, which maintains operations in the U.S. and China, trades on the Euronext Growth market and is eligible for the French SME equity savings plan scheme. The announcement notes that the company plans to use the EIB financing to support the commercial launch and sales expansion of eyonis® LCS following regulatory clearances, as well as to develop the eyonis® platform for additional cancer indications beyond lung cancer screening.
