Cyclopharm (ASX:CYC) has announced that the US commercial sales of Technegas have now exceeded $US1 million following its launch last year.
Technegas is a structured ultra-fine dispersion of radioactive labelled carbon, produced by using dried Technetium-99m in a carbon crucible, micro furnaced for a few seconds. The resultant gas like substance is inhaled by the patient via a breathing apparatus, which then allows multiple views and tomography imaging under a gamma or single photon emission computed tomography camera for evaluating functional ventilation imaging.
Cyclopharm said its US installed base has now reached 27 Technegas systems, as momentum continues to build following US FDA approval and targeted market development efforts.
It said the US has now become the fourth-largest revenue-generating market of the 66 countries in which Technegas is used and is expected to become the number one< globally by the end of 2025.
Cyclopharm CEO James McBrayer said, “Crossing the $US1million sales threshold in the US is validation of our commercial strategy. Every Technegas installation at a key opinion leader site across the US not only creates recurring revenue, but also provides a powerful foundation for the company’s long-term growth.”