• Technegas sales revenue up 5% globally, with strong growth in the US market
• Successful $20 million capital raising and $4 million share purchase plan to fund US growth
• Technegas now approved in 66 countries, with clinical trials underway to expand beyond pulmonary embolism

Cyclopharm Ltd reported a 5% increase in global Technegas sales revenue in 2024, reaching $15.2 million. This was driven by a 131% growth in US sales in the second half of the year, following FDA approval of Technegas. The company also saw a 4% increase in third-party distribution revenue to $12.4 million. Cyclopharm raised $20 million in a capital raising and $4 million through an oversubscribed share purchase plan to support its growth strategies, particularly the expansion of Technegas in the US market. The company now has Technegas approved in 66 countries and has been referenced in multiple nuclear medicine clinical guidelines as the ventilation imaging agent of choice. Cyclopharm is also progressing clinical trials to expand the use of Technegas beyond pulmonary embolism, into areas such as asthma, COPD, and lung cancer. The company is targeting 250-300 Technegas installations in the US by the second half of 2026, which it expects will quadruple the size of the existing pulmonary embolism business.

Cyclopharm is targeting 250-300 Technegas installations in the US by the second half of 2026, which it expects will quadruple the size of the existing pulmonary embolism business from US$90 million to US$180 million.

Cyclopharm is focused on expanding the use of Technegas beyond pulmonary embolism, with clinical trials underway to explore its applications in chronic respiratory diseases such as asthma, COPD, and lung cancer. The company believes these new indications could significantly grow the global market for Technegas beyond the existing pulmonary embolism opportunity.