Median Technologies Announces Formation of Strategic Review Committee and R&D Committee to Unlock Intrinsic Value and Accelerate Its eyonis Pan-Cancer Strategy

Regulatory News:

Median Technologies (FR0011049824, ALMDT, PEA-PME scheme eligible, “Median” or the “Company”), developer of eyonis, a suite of AI-powered Software as Medical Devices (SaMD) for the early detection and diagnosis of cancers, and a globally leading provider of AI-based image analyses and central imaging services for oncology drug developers, today announced that its Board of Directors has formed a Strategic Review Committee (the “SRC”) to identify and evaluate a broad range of strategic, structural, transactional and financial alternatives aimed at enhancing long-term shareholder value. The Board has also established a dedicated R&D Committee to oversee the Company’s scientific and technical development priorities and support the long-term expansion of the eyonis platform.

Rationale

The formation of the SRC follows a series of transformational milestones for Median over the past twelve months:

• In February 2026, Median obtained FDA 510(k) clearance for eyonis LCS, making Median the only AI medtech company to date to have received FDA clearance for an AI-based medical device indicated for lung cancer screening.
• In February 2026, Median entered into a distribution partnership with Tempus AI for eyonis LCS.
• In June 2026, the Company completed a €50 million capital raise backstopped by Lion Point Capital, funding the U.S. and European commercial rollout of eyonis LCS and extending the Company’s cash runway through the first half of 2028. In addition, approximately 12 million warrants issued in July 2025 remained outstanding as of July 30, 2026. These warrants expire in January 2028 and have an exercise price of €2.39 per share, representing a potential additional cash inflow of approximately €44.3 million. Assuming full exercise, Median’s cash runway would be extended into the first half of 2029.
• In July 2026, Median obtained CE Mark for eyonis LCS under Regulation (EU) 2017/745 (MDR), extending its regulatory footprint across the European Economic Area.
• The Company’s iCRO business continues to demonstrate strength, with a record order backlog of €82.4 million as of June 30, 2026.
• In July 2026, Median entered into a strategic partnership with Olea Medical, a Canon Company, to advance the commercial deployment of eyonis LCS.

Notwithstanding these milestones and the significant progress achieved across both operating businesses, the Board believes Median’s current public market valuation does not reflect the intrinsic value and growth potential of eyonis and iCRO when considered individually and together. The SRC has therefore been formed to assess alternatives that could enable the market to more fully recognize that value, while supporting continued execution of the Company’s growth strategy and preserving strategic flexibility.

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