4DMedical (ASX:4DX) secured contracts with two industry partners to provide its lung imaging technology to aid in the development of new lung disease therapies, according to a Thursday filing with the Australian bourse.
US-based SMS Biotech will work with the company on their phase one trial for stem cell therapy for the treatment of chronic obstructive pulmonary disease, with the initial contract valued at $40,000, the filing said.
Additionally, a medical device developer will utilize the company's technology to improve the evaluation process for candidates in a clinical trial of a lung implantable device, per the filing.
Shares rose 8% in afternoon trade Thursday.
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