EDX Medical Group Plc (AQSE:EDX), which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, heart disease and infectious diseases, has published its Annual Report and Financial Statements for the year ending March 31, 2025.
Highlights:
· Development of a new ‘super test’ for prostate cancer, a breakthrough diagnostic tool incorporating Artificial Intelligence (AI) and multiple biomarkers.
· Equity fundraising in March 2025 raising £3 million through the placing of shares at 14p per share.
· Expansion of European partnerships.
· A Master Service agreement with Royal Marsden NHS Foundation Trust.
Revenue for the year was £0.1 million, reflecting the commencement of new partnerships during this transitional year. The loss for the year was £3.6 million, with costs somewhat higher than expected due to additional product development activities and approximately £200,000 provision for non-recurring items, partly offset by £0.5 million of finance income.
Jason Holt, chairman, EDX Medical, commented: “The Group has continued to strengthen its position as an emerging leader in the field of medical diagnostics enabling me to report on our progress across multiple facets of the business including development and launch of new cancer tests, signing partnership agreements with key hospital groups and completing a successful fund raise which will further support the key strategies driving our growth and innovation in the years ahead.
“The Group has embarked on developing several key products that have received strong market awareness. I am pleased to report that we announced the development of a new super test for prostate cancer, a breakthrough diagnostic tool incorporating Artificial Intelligence (AI) and multiple biomarkers that has already garnered widespread attention from leading academic, media and industry experts within the healthcare sector. This product will enhance diagnostic accuracy to an unprecedented level – promising improved patient outcomes and efficiencies for healthcare providers.
“We are optimistic about the opportunities and challenges that are ahead of us. The medical diagnostic industry is evolving rapidly, with increasing demand for advanced medical technologies and diagnostic solutions.
“The reporting period reflected a transitional time for the Group, moving from building the foundations of the company into commercial operations and further product development. We look forward to continuing to lead and innovate in this exciting arena of medical diagnostics and AI, delivering sustainable growth and value to our shareholders.”
