Radiopharmaceutical manufacturer Cyclopharm has announced unaudited FY23 revenue up 14 percent to $28.9 million and increasing momentum in the roll out of its Technegas lung imaging technology in the United States.
The US launch has resulted in 80 issued contracts to date, covering more than 280 individual institutions, of which six are at the final execution stage, with three at the final draft stage.
Cyclopharm is targeting over 400 expressions of interest in the US, the world’s largest potential market, for Technegas.
The company told investors: “This outstanding result is a testament to the continued demand and acceptance of Technegas globally and our expanding offering and distribution of third party products.”
Technegas is an ultra-fine dispersion of radio-labelled carbon, produced in a Technegas generator (pictured) by using dried Technetium-99m in a carbon crucible, micro furnaced at around 2,750°C.
The resultant gaseous substance is inhaled by the patient, which then allows multiple views and tomographic imaging with a nuclear medicine camera.
Cyclopharm said it was now scheduling the first clinical installations in the United States during February.
Revenues from Technegas include:
“The company will continue to own the Technegas system with ongoing revenues generated per site from the annual technology access fee and patient volumes.”
Cyclopharm is onboarding new US staff including service engineers, application specialists and a customer success manager.
Picture: University of Newcastle/Trial of Technegas generator