A company created by Australian Nanosonics founder Maurie Stang and American scientists that is transforming X-ray technology is tapping investors for $US20 million , before a possible $1 billion-plus Nasdaq listing in 18 months.and executive chairman, has created a machine called the Lumitron HyperVIEW EBCS, which has 1000 times the resolution of a traditional X-ray.
In healthcare, he said, it would transform not just imaging but also treatments because its device could image organs or bones down to the cellular level. It recently had a technological breakthrough that the company believes will enable it to offer “flash radiotherapy” – a form of ultra-fast radiotherapy targeting only cancer-affected cells.
“Flash radiotherapy, subject to regulatory approval, we believe could be ready in less than two years.”instrumental in establishing Lumitron, he said credit for the technology should go to his co-founder, Chris Barty, the CTO and inventor.After claiming to be commercialising the biggest breakthrough in X-ray technology since it was created in the late 1800s, the company is used to having doubters.
“When I met with the team in Irvine I said to them ‘look me in the eye and tell me there isn’t still a hill to climb with this technology’ and they said they’ve been conservative.” It has appointed investment bank Jefferies to manage the pre-IPO capital raise in Australia and the US.
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