Nano-X Imaging Ltd.

NNOX

Early detection saves lives—and we at Nanox are focused on applying our proprietary medical imaging technology to make diagnostic medicine more accessible and affordable across the globe. Our vision is to increase early detection of medical conditions that are discoverable by X-ray, which we believe is key to increasing early treatment, improving health outcomes and, ultimately, saving lives.

As a first step to producing a new class of affordable medical imaging systems, we have focused on identifying and developing a novel X-ray source. Our X-ray source is based on a novel digital MEMs semiconductor cathode that we believe can achieve the same functionalities as legacy X-ray analog cathodes, while allowing for lower-cost production than existing medical imaging systems. We developed this technology over eight years to reach commercial applicability. This novel digital X-ray source is the basis of core technology in the Nanox.ARC, the imaging system we are developing, and we believe it also has the potential to replace the legacy X-ray source in other existing imaging systems.

Our solution, which we refer to as the Nanox System, has two integrated components—hardware (Nanox.ARC) and software (Nanox.CLOUD). We have developed a prototype of the Nanox.ARC, a medical imaging system incorporating our novel digital X-ray source. Subject to receiving regulatory clearance, the first version of the Nanox.ARC that we expect to introduce to the market will be a 3D tomosynthesis imaging system. Tomosynthesis is an imaging technique widely used for early detection, that is designed to produce a high-resolution, 3D X-ray image reconstruction of the scanned human body part for review by a professional diagnostics expert. In parallel, we have developed a prototype of the Nanox.CLOUD, a companion cloud-based software that is designed to provide an end-to-end medical imaging service, including services such as image repository, radiologist matching, online and offline diagnostics review and annotation, connectivity to diagnostic assistive AI systems, billing and reporting. The Nanox System is designed to enable MSaaS to improve accessibility and affordability of early-detection services worldwide.

If cleared, we plan to market and deploy the Nanox System globally at a substantially lower cost than currently available medical imaging systems, such as CT, because our digital X-ray source will allow the Nanox.ARC to have a simpler structure without the costly cooling equipment or the complex rotating mechanism used in legacy CT devices. See “—Our Technology—The Nanox System.” We believe that the Nanox System could increase the accessibility and affordability of early-detection medical imaging systems worldwide.
 

Offer Price Offer Size 3-Year Outlook Volatility 1st Day Turnover
$18.00 9,180,000 Positive High 110.39%

Offering Team

Deal Managers

  • Cantor Fitzgerald
  • CIBC

Lawyers

  • Skadden, Arps, Slate, Meagher & Flom LLP

Auditors

  • Kesselman and Kesselman

Pre-IPO Investors

Investors

  • Google Ventures
  • Intel Ventures
  • Patricoff Ventures
  • Kleiner Perkins

Pre-IPO Holdings(%)

  • 30
  • 20
  • 05
  • 18

Deal Highlights

Deal Tracker

Investors

Filing

20 Aug, 2020

Offer

21 Aug, 2020

Look Ahead

Lock Up Expiry

21 Feb, 2021

Earning

Nov 1, 2018

IPO Terms

Offer Price $18.00
Offer Size 9M

Market Sentiments

Stock Price