EIQ raises $110M from "Australian and Institutional investors"

Our AI heart detection tech Investment EchoIQ (ASX:EIQ) just raised $110M at $1.45 per share from “Australian and Institutional investors”...

… 6 days after EIQ signed a $20M proposed funding deal with $21BN Pro Medicus.

As well as a potential reseller agreement which (IF executed) could give EIQ access to Pro Medicus’ global hospital client base, built over decades AND product validation from a global leader in medical imaging enterprise-scale software solutions.

(source)

EIQ is slowly… executing the story arc one of 2025’s hottest stocks followed.

Remember when lung imaging medical technology company 4D Medical (ASX: 4DX) went up over 3,000% to a ~$4BN market cap in ~8 months?

4DX’s run started after $18.7BN Pro Medicus (one of the world’s leading healthcare imaging software companies) invested $10M into 4DX.

The 4DX share price tripled in the weeks AFTER the Pro Medicus investment was announced.

Then the share price went on a parabolic run after 4DX received US FDA clearance for its lung imaging tech.

4DX kept running, closed a $150M institutional capital raise in January this year, another $89M placement at a premium to the last raise in March and made its way into the ASX 200 index and hit an all time high of $7.55 in March this year.

All of that while expanding its tech into the US and EU…

From its April 2025 low of 23 cents, that's a ~33x move in under 12 months, to a peak market cap around ~$4BN.

(source)

EIQ has its own FDA decision coming any day now…

Like 4DX was at the time of its Pro Medicus deal, EIQ is very close to finding out if it has secured US FDA clearance for its AI Heart Failure detection tech.

EIQ’s FDA decision is pending for its Heart Failure detection tech and could come in any day now…

EIQ submitted its FDA application (a "510 k") for Heart Failure in mid-December 2025.

The FDA's average review window is ~90 days - that window has well and truly passed.

EIQ's guidance for a final decision was “this half of 2026”.

Technically that means we could see something over the next ~5 days.

(source)

IF the FDA clearance comes in then the reseller part of the Pro Medicus deal comes into play which would see Pro Medicus market and distribute EIQ’s products to its customer base.

(source)

We think that part of the deal is massive for EIQ because Pro Medicus has spent decades building up its network of customers - and overnight EIQ would get access to that network.

Pro Medicus sell enterprise-grade medical imaging software so its a pretty similar customer base to what EIQ would be looking to sell into:

(source)

NOW, with $110M from today’s capital raise, EIQ will also have enough cash to go as hard as it wants on its distribution/global sales strategy too.

What's next for EIQ?

🔄 Heart Failure FDA decision (any day now?)

Next is all about FDA clearance for EIQ’s heart failure detection tech.

🔄 Aortic Stenosis commercialisation

The key metric we will be tracking in the short term is how many integrations EIQ can secure for its Aortic Stenosis tech.

In the short term we want to see more distribution deals - either through strategic partnerships or reseller deals.

Here are the milestones we are tracking:

• 🔄50 active contracts in the sales pipeline
• 🔄 Resubmission for a Category III reimbursement code

🔄 Australia and NZ pilot program

EIQ has previously mentioned that this program is being run with a ”leading global structural heart innovation company”.

We want to see some more news on this front because we think it could help advance EIQ’s licensing revenue pathway and be a “proof of concept” study that EIQ can take into the US.

We note strategic partnerships was teased in the recent quarterly again - so we wait to see what happens on this front:

(source)