Advanced Medical Diagnostics Holding (HistoScanning™) Completes Financing Round of € 7.5 Million

WATERLOO, Belgium--(BUSINESS WIRE)--Advanced Medical Diagnostics Holding SA, a privately held company committed to providing innovative computer‐aided solutions (HistoScanning™) that improve the diagnostic interpretation of ultrasound scans, today announced the completion of a C- round investment securing a total financing package of € 7.5 Million.

“We are grateful for the trust, support and loyalty of our investors and we are proud to have them on our side.”

HistoScanning™ is an innovative and proprietary tissue characterization technology that has been developed to differentiate, characterize and visualize solid organ tissue types based on the analysis of backscattered ultrasound. It is designed to support the physicians’ diagnosis and treatment decisions.

Prostate HistoScanning™, released in Europe, is a specific product to support the management of men suspected of or presenting with prostate cancer. HistoScanning™ products for breast, thyroid and ovaries are under development.

Experience of users supports the finding that Prostate HistoScanning™ provides clinically relevant information not available through standard techniques.

Johan Braeckman, Urologist at the University Hospital of the Free University of Brussels and an early clinical investigator and user of Prostate HistoScanning™ summarised his experience: “Since I started using HistoScanning™ routinely for the clinical assessment of my prostate patients I have developed a better perspective on prostate cancer and the context of the biopsies I do. For a substantial number of my patients HistoScanning™ has revealed information which led to discovery of clinically relevant prostate cancer. The benefits suggested by the clinical studies done to date, do indeed translate into routine clinical practice.”

Today Prostate HistoScanning™ has active users in Belgium, The Netherlands, Germany, Finland, the UK and Czech Republic, and the company is continuing to add new markets to its distribution network. Advanced Medical Diagnostics has a commercial relationship with BK Medical, the market leader in urology ultrasound, for the distribution and promotion of Prostate HistoScanning™.

Dror Nir, inventor of the technology and CEO of the company said: “I am very pleased with the progress we are making on all fronts and I am pleased to see that HistoScanning™ is finding its right place in clinical practice.” He added: “We are grateful for the trust, support and loyalty of our investors and we are proud to have them on our side.”

Facts about AMD

Advanced Medical Diagnostics Holding is a privately held company based in Waterloo, Belgium. The company is dedicated to improve cancer patient management in a clinically meaningful and cost effective manner. A dynamic and culturally diverse team of 30 experienced scientists, engineers and business professionals is committed to bringing HistoScanning™ to medical specialists and their patients around the world. For investments the company strongly relies on private investors and the support of the Walloon region in Belgium.

For more information visit www.histoscanning.com

HistoScanning™ is a trademark of Advanced Medical Diagnostics Holding SA, Waterloo, Belgium.