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MEDIAN Technologies Raises Ten Million Euros
MEDIAN Technologies Raises 10 M€ for the Commercialization and Development of its product portfolio


March 3, 2006 - MEDIAN Technologies, a company based in Sophia Antipolis, France, specializing in the development of software to assist radiologists in the detection, diagnosis and monitoring of cancers, today announced the close of a ten million Euro financing round. Existing US and European Investors in the round included AGF Private Equity, Auriga Partners and Draper Fisher Jurvetson ePlanet Ventures. A major Asian investor joined them, attracted by the worldwide potential of the Company’s business. MEDIAN’S scientific partner, The University of Chicago, is also a shareholder in the company.

“In the past few years the medical imaging market has undergone significant change, moving from analog to digital and from 2D to 3D/4D. The explosion of data generated by the new generation of scanners is now driving the need for Clinical Applications that provide Clinical Value and Workflow Efficiency. We are proud to assist clinicians in the early detection and follow-up of different forms of life threatening diseases which will benefit patients around the world,” said Fredrik Brag, President and CEO of MEDIAN Technologies.

“This financing will enable us to accelerate our recruitment plan in Sales, R&D, Product Management and Services. It will allow us to further our expansion in Europe, the United States and Asia and will fuel the roll-out of a portfolio of applications”, Managing Director Gerard Milhiet commented. “Our two initial products will pave the way for a full range of clinical applications we have in development:
CAD-Lung, a software application dedicated to chest CT analysis, providing physicians with tools to support the early detection, characterization and follow-up of lung lesions of all sizes.
CAD-Colon, a complete solution for the interpretation of CT Colonography images, providing clinicians with tools to support the detection and characterization of polyps and masses in the colon”

“The market for these clinical applications has moved from nice-to-have to must-have as the move from analog images to digital images yields an enormous increase in the volume of data being generated and needing review. The bottleneck is no longer the capture of images but is now the analysis of images. We are confident that MEDIAN Technologies can provide great clinical value, combined with increased productivity and workflow efficiency and we are excited by this opportunity. MEDIAN has the right vision and the right team for making the project a great success”, said Dennis Atkinson, Director of DFJ ePlanet Ventures.

Auriga Partners’ General Partner, Bernard Daugeras, said, “We are excited about the market opportunities and the need to provide clinical applications in Oncology, but also in the near future for Cardiology and Neurology. The performance of the MEDIAN technology makes it possible, in particular, to contemplate the early detection of such pathologies as lung cancer and cancer of the colon, two of the most threatening forms of cancer.”

Jean-François Galloüin, AGF Private Equity’s Investment Director, said, “MEDIAN Technologies not only provides early detection for different types of disease, but can also track the progression of the disease over time, providing valuable information on response to therapy. AGF Private Equity is excited to finance MEDIAN Technologies and to participate in this venture. All of the ingredients are present for making the project a success: an extraordinary opportunity to save lives by the early detection of cancer; a visionary and experienced team and an ability to mobilize the world's best experts at the outset.”


About MEDIAN Technologies
MEDIAN Technologies, established at the end of 2002 and based in Sophia Antipolis, France, specializes in the development of software to assist radiologists (Computer Aided Detection – CAD) in the detection, diagnosis and monitoring of cancers. MEDIAN uses the CAD-Platform, its multi-modality and multi-pathology 3D medical imagin


Publisher Contact Information:

MEDIAN Technologies
+33 4 92 38 80 42
michael.auffret@mediantechnologies.com

Company profile of MEDIAN Technologies
Past press releases of MEDIAN Technologies.

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