Median Technologies is a next generation cancer imaging company with leadership potential in this $1.2bn market. Using technologies derived from the French military, the company enables accurate, reproducible measurements of tumours in clinical trials. This is a burgeoning market given the rate of growth in cancer immunotherapy and the need for more accurate assessment of tumour response to new agents. Median enables pharmaceutical customers accurately to measure 3D changes in tumour morphology. This is a big advance on the conventional RECIST protocol, where radiologists measure the length and width of a tumour (and in > 35% of cases do not agree). Crucially, the technology can also detect other changes – eg density gradients, which can be indicative of tumour necrosis, and has applications in settings beyond oncology. Median’s technology can be applied to any imaging modality (CT, PET, MRI), regardless of manufacturer, and so is widely applicable in clinical trials. The clinical trials market is the priority for the company at this stage in its development. The system is both FDA approved and CE marked.
Other applications are in national cancer screening programmes, where the company is in advanced discussions with three national governments. Also, there is significant interest within the research community as radiologists work to decode tumour images - ie understand changes in tumour phenotype in response to new drugs.
We led a €19.8 million (£14.2 million) financing in Median Technologies in July 2015 and Tim Haines joined the board. Median is a VIPE (Venture Investment in Public Equity) and is listed on Euronext (ALMDT.PA).