Cyclopharm (ASX: CYC) has announced significant momentum for its Technegas product in the United States, with sales exceeding $US1 million (approximately $A1.6 million) since commercial launch last year. This milestone reflects increasing adoption by key opinion leaders and institutions, despite ongoing geopolitical uncertainty. The company’s US installed base has grown to 27 Technegas systems as of March 31, 2025, a substantial increase from 17 systems at the end of 2024. Each installation generates recurring revenue through consumable usage, creating a sustainable annuity income stream. The US market is now Cyclopharm’s fourth-largest revenue-generating market and is projected to become its largest globally by the end of 2025.
Cyclopharm also reported progress on its U.S. Federal Government initiatives, receiving an additional installation purchase order from a U.S. Department of Veterans Affairs (VA) hospital under the Federal Supply Schedule (FSS) contract. This further expands Cyclopharm’s reach within the U.S. federal healthcare network.
Cyclopharm views its US expansion as a de-risked growth opportunity, supported by Technegas’s established position as a leading nuclear medicine functional ventilation imaging agent, its broad FDA indication for lung imaging, established reimbursement pathways, and major contracts with US government and private healthcare networks. The company also has a substantial inventory of Technegas already onshore in the US, ensuring supply continuity. Long-term plans include establishing a secondary manufacturing facility in the United States within the next five years.
According to Cyclopharm CEO James McBrayer, the $US1 million sales threshold validates the company’s commercial strategy and establishes a strong foundation for long-term growth.
