Median Technologies has entered into an agreement with the European Investment Bank (EIB) for a new financing facility, which could provide up to €37.5m.
This agreement follows previous announcements earlier in 2025 indicating efforts to secure such funding.
Median Technologies is engaged in manufacturing eyonis, a suite of artificial intelligence (AI) powered Software as a Medical Device (SaMD) for early cancer diagnosis. It also provides AI-based image analyses and central imaging services for oncology drug developers.
The arrangement with EIB permits the drawing of funds in three tranches, €19m for Tranche A, €8.5m for Tranche B, and €10m for Tranche C.
Median Technologies plans to request the disbursement of Tranche A, pending the fulfilment of specific contractual conditions.
These prerequisites include the issuance and registration of EIB warrants, a share capital increase amounting to at least €16m, and the repayment of a tranche from a previous EIB loan that has been extended to October 2025.
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Additionally, Median Technologies aims to secure at least €10m in additional equity financing by mid-2026.
Tranche A features a maturity period of 72 months, with monthly repayments beginning after an initial grace period of 36 months and carries an annual interest rate of 5%. The exercise price and number of shares from issued warrants will be contingent on the stock price at the time of issuance.
Once all conditions are met, these shares could represent 10% of Median Technologies’ share capital. Disbursement of Tranches B and C remains at the company’s discretion under conditions specified in the financial agreement.
Funds from the EIB will be allocated towards advancing eyonis Lung Cancer Screening (LCS) through crucial development milestones in both US and European markets. Part of this effort includes expanding eyonis for early cancer diagnosis applications, such as addressing indeterminate pulmonary nodules (IPNs) and hepatocellular carcinoma (HCC) for liver cancer.
In terms of regulatory progress, Median Technologies filed for US Food and Drug Administration (FDA) clearance for eyonis LCS in May 2025 and applied for CE marking in Europe in July 2025.
The FDA clearance decision is anticipated in late Q3 2025, potentially followed by a commercial launch in the US, while European marketing authorisation is expected in early 2026.
Median Technologies CEO and founder Fredrik Brag said: “We welcome the conclusion of our discussions with the European Investment Bank and the signature of the financial agreement.
“We are very honoured to belong to the European innovative ecosystem supported by the EIB, and to contribute to the European technological sovereignty.
“Proceeds from this new EIB financing facility will strengthen our financial independence to negotiate the best possible options for the commercialization of eyonis LCS in US and in Europe.”
