Member Info for mike33

|2023-12-04

"Siemens Healthineers aims to expand photon-counting scanning technology to 1 billion patients over next decade.

Siemens Healthineers aims to scan 1 billion patients with photon-counting based computed tomography scanners within the next decade, bringing its unique state-of-the-art imaging within reach of more and more communities."

The company is investing €80 million (over £65 million) to expand photon-counting CT manufacturing in Forchheim, Germany

a serious investment in CZT manufacturing and tech I don't think they would commit to this if they had any doubts on the commercial return on capital investment.

https://www.siemens-healthineers.com/en-uk/press-room/press-features/photon-counting-expansion

Doing a quick check where the 4 tier one medical imaging OEMs are with thier CZT based Photon counting CT development programs its apparent GE, Siemens and Canon are all steaming ahead and have Prototype scanners in testing at university hospitals and are making very positive claims of their benefits and beliefs that CZT photo counting Scanners married with deep learning AI software will bring and be the new gold standard of CT medical diagnostic imagining.

Canon has units back in Japan now (Redlen CZT) and will be undergoing full testing from Jan 24.

Link below -

https://global.medical.canon/News/PressRelease/Detail/142192-834

Siemens has updated it's web site -

and is presently building a new purpose built CZT manufacturing

Plant in Germany after initially acquiring a Japanese CZT company.

"Quantum Technology® is transforming CT by introducing photon-counting technology into clinical routine. At its core is the QuantaMax® detector, which is equipped with a crystal semiconductor that is substantially different from a standard scintillation detector."

GE is only just slightly ahead of Canon it seems-

"A new prototype GE HealthCare photon counting CT (PCCT) scanner has been installed at 3155 Porter Drive, only the second such scanner in the United States." (California)

So Kromek's new multi year

Development/Supply contact with Philips the 4th listed global tier one OEM will surely advance at pace, they won't and can't afford to lose thier hard fought market share to the competition.

And to deny this revenue steam will have any material impact on Kromek's fortunes seem somewhat absurd to me.

Malcy's comments -

"This looks to be a smart deal and I’m not surprised to see Rockhopper monetising the OM award awarded to them against the Italian Government that could go on for a very long time. A potential three payments with various costs to be subtracted such as the taxman.

Given that RKH will soon be facing bills for Sea Lion, getting money in now is very wise and waiting for a settlement might have left them ironically trying to raise money with this settlement overhanging so a smart move by all concerned.

Overall then, if Rockhopper win annulment which they should, they will get some €80m plus a profit share on recovery which should be enough for Sea Lion as it is costed at the moment and also of no little interest, be about the same as their market cap-in cash…"

New video presentation by Berry Beumer - president - Advanced Imaging Kromek

Watch "CZT in CT and SPECT Imaging" on YouTube

Very clear and informative and shows where Kmk's tech is taking the future of medical imaging.

https://youtu.be/Nny0iJwX5s4?si=h2xIE68UVnuB6GCm

Just read this about a large US listed medical imaging solutions provider and Thier intention to focus on Photon counting imaging CT and the size of the addressable Asian markets....CZT based Photon counting tech...bodes well for Kmk I think.

Key takeaways from the earnings call include:

The Medical segment made up 75% of the annual revenues, driven significantly by the global CT market.

Varex's subsidiary, MeVis Medical Solutions, obtained FDA clearance for an AI-based software product, emphasizing the company's focus on photon counting technologies.

The Industrial segment announced the launch of XRpure, an irradiation system for decontaminating organic products, which is expected to add nearly $1 billion to the company's addressable market within five years.

Varex plans to invest in its Industrial segment and expand its use of photon counting technology in medical applications.

Varex Imaging (NASDAQ:VREX) Corporation reported strong fourth quarter and fiscal year 2023 earnings, with Q4 revenue reaching $227 million.

https://uk.investing.com/news/stock-market-news/earnings-call-varex-imaging-reports-solid-q4-2023-results-eyes-expansion-in-india-amid-chinas-challenges-93CH-3238576

"The day after seeing her Prenuvo results, Santarosa had a follow-up CT scan at a local hospital. The nodule was cancerous. She had it removed the following week.".....

"Lacy said Prenuvo's hardware was designed to do "almost as good a job" as contrast by using other techniques."

https://www.cnbc.com/2023/11/10/prenuvo-offers-2500-full-body-mri-scans-that-can-detect-cancer-early.html

If this funded development Breast imaging project come good

as it's looking increasingly likely it will, it's a company maker on its own I think.worth more than the present share price.

Low-Dose Molecular Breast Imaging (MBI) Could Improve Cancer Detection in Dense Breast Tissue.

https://www.medimaging.net/general-imaging/articles/294796139/low-dose-molecular-breast-imaging-mbi-could-improve-cancer-detection-in-dense-breast-

tissue.html#amp_tf=From%20%251%24s&aoh=16993944765823&referrer=https%3A%2F%2Fwww.google.com&share=https%3A%2F%2Fwww.medimaging.net%2Fgeneral-imaging%2Farticles%2F294796139%2Flow-dose-molecular-breast-imaging-mbi-could-improve-cancer-detection-in-dense-breast-tissue.html

All the recent medical imaging CZT contracts and design development deals have all mentioned the same phrase from memory...'with assured CZT manufacturing capacity for future production sales'

Sounds to me like Thier timing to ramp up CZT furnace capacity was well timed and a few more tier 2's might decide sooner than later to secure thier place on the growing preferential customers list..all good news to me.

Plus -

On 31 October Kromek announced 3 more orders for CBRN detection worth a total of US$1.0m (£0.82m), most of which is expected to be recognised in the current year to 30 April 2024. Then on 7 November the Group announced a collaboration agreement with a new blue chip partner for CZT-based photon-counting CT medical applications; the partner provides solutions to over 100,000 customers globally.

Kromek had also announced the refinancing of its HSBC RCF in September and our outlook remains unchanged: indicative of a FY25 E EV/EBITDA multiple of 6.8x. As does our Fair Value at 26p / share.

Still in bombed out territory here sadly, and news on £££ for the latest CT medical deals with put a rocket under these I think...the deals are all stacking up nicely

Links a bit flakey for me

"Bio-detection becomes a commercial reality"

Recent new contracts show that Kromek’s investment in bio-hazard detection technology is becoming a commercial reality. On 26 October the Group received a US$5.9m (£4.84m) contract from the US Department of Homeland Security Countering Weapons of Mass Destruction (CWMD) Office - the first for Kromek - to research and develop technologies for agent-agnostic bio-detection.

Kromek teams up to use CZT technology to develop photon-counting CT scanners | AIM:KMK

https://www.proactiveinvestors.co.uk/companies/news/1032275/kromek-teams-up-to-use-czt-technology-to-develop-photon-counting-ct-scanners-1032275.html

Nov 3rd - twitter kmk

"Over the past two days, we've had the pleasure of welcoming customers from Saudi Arabia to our HQ in County Durham."

Exchanging product and industry knowledge, as well as taking part in-depth product training; it's been a valuable visit for all.

a new customer by the look of it...

Last Updated: 26/10/2023

Kromek - LGB Co

https://www.lgbco.com/quoted-landing-page/the-future-of-healthcare/kromek/

re states Philips CZT contract and est value and when likely revenue from deal will feed thro'

Recent Bio detection news -

What's interesting to me is although it went very quite after the DARPA development contract ended it was almost immediately picked up by a UK security body MoD? with a follow on development and initial units supply and service contract.

This multi year contract is well underway and It appears that sufficient progress has been made to interest the US dept of homeland security to place a first contract with Kmk and although we weren't told much the term "Agnostic" was prominent, so along with the dozen or so know possible Bio weapon pathogens they want Unknown ones detectable as a primary function which is telling as it appears they believe Kromek can achieve this..all a world first, all of this tech.

I've just checked over the last few days and not seen any recent Bio detection development news from any other detection/security/defence companies anywhere, so Kromek are well placed I think and the news today of more financial help in development from a large un- named defence global is very interesting..maybe Kmk's future partner...have to wait and see...the prize is a national US Bio platform role out, and others to follow.

Kromek wins three new CBRN contracts, one with large new customer.

https://www.proactiveinvestors.co.uk/companies/news/1031469/kromek-wins-three-new-cbrn-contracts-one-with-large-new-customer-1031469.html

View from Vox

A major contract win for Durham-based Kromek as the US and other governments increase their focus on biological threats, particularly in light of the Covid-19 pandemic. The £5.9m 4-year programme aims to provide increased capability to detect and identify biological threats in response to the operational needs of the DHS.

Kromek will pilot an agent-agnostic bio-detection system capable of providing species-level identification of biological agents. To date c. £15m has been invested in the programme, including c. £11.5m of non-dilutive grants from the US Defense Advanced Research Projects Agency (DARPA), Innovate UK, and the UK Ministry of Defence.

The contract gives Kromek good revenue visibility over the next 4 years, with US$874k to be awarded during the 1st year to October 2024. It also provides further substantial endorsement of Kromek's IP, building on its existing expertise in the field of bio-detection solutions.

Investors welcomed the news, driving

KMK

shares 15% higher on Thursday. Broker Cavendish maintained its target price of 25p (21-31p range) in which the biological threat detection programme is valued at £30-50m or 5-8p per fully diluted share, compared to Kromek's current share price of 4.9p, which gives it a market cap of £28m. Cavendish does not believe Kromek's biological threat detection programme is yet reflected in its valuation.

Kromek Group Plc

KMK.L

Kromek Group Plc

GBX

Not sure when this was updated -

https://www.kromek.com/bio-detector-information/

Canon now aggressively expanding into the medical sector?

CEO/Chairman -Fujio Mitarai: Yes. Examinations are the starting point for treating most illnesses, particularly cancer, and medical exams that are precise and fast are key. We want to strengthen our business in diagnostic equipment. We want to rank first in CT scanners globally in the future.

‘’In the global medical imaging sector, Canon ranks among the biggest names. But the company—a top maker of diagnostic medical imaging equipment—sees more room for growth. In a bold move, Canon acquired Canada’s Redlen Technologies in September. Redlen has devoted decades to perfecting the manufacturing processes for cadmium zinc telluride (CZT) detectors—a key technology in photon-counting CT scanners that’s also regarded by many experts to be the best performing’’

https://partners.wsj.com/canon/next-gen-medical-imaging/

Https://www.investorschronicle.co.uk/ideas/2023/10/23/why-kromek-shares-are-a-bargain-buy/

Https://www.linkedin.com/posts/olivier-cannet-98635b29_eanm23-nuclearmedicine-digitalhealthcare-activity-7108119397352775680-jQRv

in Vienna a couple of weeks ago, the first all new CT CZT based scanner by Veriton after the original 400 series design was based on Redlen's modules now taken over by Canon.

VERITON Innovative System Design: 360° CZT

Spectrum Dynamics product portfolio foundation is built on CZT solid-state digital detector technology.

The goal is to maximize the benefits of CZT in routine clinical applications in nuclear medicine departments