Cyclopharm (ASX: CYC) has secured a significant milestone in its US expansion, receiving approval for Technegas at the National Institutes of Health (NIH) and an accompanying purchase order, with installation imminent.
This development comes alongside a recent capital raise to fuel the company's growth strategy.
Technegas has been approved for clinical use at the NIH in Bethesda, Maryland.
A purchase order has been received, with installation expected in the coming weeks, an important step in the company's federal market penetration.
This utilisation of the five-year Federal Supply Schedule (FSS) agreement streamlines federal procurement processes for Technegas.
Broader Clinical Applications
The NIH approval opens significant opportunities for Technegas beyond its primary use in diagnosing Pulmonary Embolism (PE).
It allows for expansion into critical areas such as COPD, asthma, ILD, and oncology-related pulmonary care.
The product can also support important longitudinal lung studies.
This broadens Technegas's clinical utility and presents potential for increased system utilisation and recurring consumables revenue per site.
US Expansion Under Federal Supply Schedule
The NIH installation directly utilises the five-year Federal Supply Schedule (FSS) framework, which Cyclopharm announced on 14 March 2025.
This agreement is crucial for validating Technegas procurement across federal healthcare institutions.
It provides a structured pathway, supporting broader US expansion efforts into federal facilities.
Capital Raise Fuels Growth
Cyclopharm recently completed an A$14 million placement and launched an accompanying A$2 million Share Purchase Plan.
The proceeds from this capital raise are designated for accelerating the US Technegas rollout, advancing next-generation development, and bolstering working capital.
The company has reaffirmed its guidance for 250-300 US installations by H2 2026, underscoring its commitment to aggressive US market penetration.
The NIH approval represents a strong validation for Technegas and a key step in Cyclopharm's US federal market strategy.
Combined with recent capital raising efforts, the company is well-positioned to accelerate its US expansion, though execution remains a key focus.
