Ann: Trading Halt, page-90

Guys, the more deeply I read into Imbio, the more confidence I get that this acquisition for 4DMedical is the right move for a fair (or even cheap) price, considering what we are getting in exchange (including regarding product, commercialisation and expertise), along with all the benefits and savings.

I think with the strong capital raise demand result, and once investors really analyse what we are getting, any share price downward pressure should be tempered once the dust settles, and the SP may even rise (as it has done for some acquisitions by other organisations in the past).

I looked into Imbio's product suites and here's a summary of its products on a regulatory front - 4DX's term sheet points out 4 FDA cleared products, but it is actually better than that on a global basis:

• 4 FDA cleared products (USA): Lung Density Analysis - Inspiration; Lung Density Analysis - Functional; Lung Density Analysis+; RV/LV Analysis;
• 4 CE Mark products (Europe):Lung Density Analysis - Inspiration; Lung Density Analysis - Functional; Lung Density Analysis+; Lung Texture Analysis;
• 4 Health Canada Approved products (Canada): Lung Density Analysis - Inspiration; Lung Density Analysis - Functional; Lung Density Analysis+; Lung Texture Analysis;
• 1 Investigational Use Only (USA): FDA Lung Texture Analysis;
• 1 CE Mark product pending (Europe): RV/LV Analysis;
• 2 Research or Investigation Use Only pending/coming soon (All Regions): Airway Analysis; Coronary Artery Calcification (for heart disease diagnosis).
• Companion Imaging partnering with Pharma and MedTech's, etc (existing large company partnerships).

4DMedical products regulatory status:

• 2 FDA cleared products (USA): XV LVAS; CT LVAS
• 2 TGA approved products (Australia): XV LVAS; CT LVAS
• FDA clearance application pending (USA): CT:VQ and XV Scanner (expected within the next couple of weeks/months)
• TGA approval applications (to be advised): CT:VQ and XV Scanner
• Heart scan product - medium to longer term potential release.

With Imbio approved in both Europe and Canada, I think this has the potential to give us the expertise to navigate and accelerate our approval pathways for 4DMedical's own products into these regions. Likewise, 4DMedical has the expertise to achieve Australian TGA approval for Imbio's 6 main products! So much mutual benefits arising from this acquisition.

I like also that this accelerates our entry into the heart diagnostic market - which should have a huge addressable market.

Bring on next week - hoping the market reacts positively to quality of this acquisition, despite the CR!