NNOX Nano X Imaging Ltd

NANO-X IMAGING LTD ("Nanox" or the "Company," Nasdaq: NNOX), an innovative medical imaging technology company, and Beilinson Hospital, a leading Israeli hospital and part of Rabin Medical Center, owned and operated by Israel’s largest healthcare organization, Clalit Health Services, today announced their collaboration to conduct a clinical study evaluating the Nanox.ARC 3D imaging system in a clinical outpatient setting at Beilinson Hospital. The study will specifically assess the diagnostic capabilities of the Nanox.ARC’s tomographic imaging system compared with conventional two-dimensional radiography for detection of lung and chest disease in adults. Such a study may help determine the clinical utility of the additional information provided by the 3D tomographic imaging, potentially preventing the need for more advanced imaging and exposure to additional radiation.

The Nanox.ARC is a digital tomosynthesis system that uses multiple sources of X-rays to produce a three-dimensional, or tomographic, image of the body. Compared to similar X-ray tomosynthesis based devices, Nanox.ARC has a smaller footprint, utilizes a cold cathode system which does not require the high level of heat needed in a standard “hot cathode” X-ray, and has the potential to be a cost-effective and scalable imaging solution in healthcare settings that would otherwise be unable to deploy traditional medical imaging equipment.

As part of the study, the Nanox.ARC is being used to scan patients with abnormal lung conditions at Beilinson, one of the world's top academic medical centers and an institution that has pioneered advancements in radiology. The study is being led by Professor Eli Atar, M.D., FSIR, Director of the Department of Imaging, and Dr. Ahuva Grubstein, M.D., Department of Diagnostic Radiology, both at Beilinson Hospital.

This study evaluating the Nanox.ARC is an addition to the existing collaboration between Nanox AI and Clalit, and the second study conducted with Beilinson Hospital. Previously, Beilinson conducted a study using Nanox AI’s HealthCCSng solution on routine chest CT scans to assess the impact of AI-based coronary artery calcium (CAC) measurements, and that ~40% of patients included in the study had previously undetected risk of a cardiovascular event. Nanox AI's HealthCCSng is an advanced AI-powered solution designed specifically to detect CAC, which is known as an early sign of cardiac disease. It utilizes medical imaging data from routine chest CT scans to automatically quantify and analyze coronary artery calcium category, providing crucial insights into potential cardiovascular risks.

“This collaboration with Beilinson Hospital will provide further clinical validation of the Nanox.ARC and enable us to develop a truly end-to-end, globally connected medical imaging solution to promote population health for those in greatest need,” said Erez Meltzer, CEO of Nanox. “We look forward to continuing our partnership with Beilinson as we initiate a study exploring the use of our innovative 3D Nanox.ARC imaging system to improve patient care.”

“We are pleased to collaborate further with Nanox on this important study of their novel digital tomosynthesis technology,” said Professor Eli Atar, M.D., Director of the Department of Imaging, Beilinson Hospital. “This technology shows promise to expand clinicians’ capabilities for more precise readings and earlier detection across a range of pulmonary conditions. With further validation, we believe Nanox.ARC could meaningfully augment radiology departments’ capacity to provide the highest standard of care while managing imaging volume demands.”

About Nanox

Nanox (NASDAQ: NNOX) is focused on applying its proprietary medical imaging technology and solutions to make diagnostic medicine more accessible and affordable across the globe. Nanox’s vision is to increase access, reduce costs and enhance the efficiency of routine medical imaging technology and processes, in order to improve early detection and treatment, which Nanox believes is key to helping people achieve better health outcomes, and, ultimately, to save lives. The Nanox ecosystem includes Nanox.ARC— a multi-source Digital Tomosynthesis system that is cost-effective and user-friendly; an AI-based suite of algorithms that augment the readings of routine CT imaging to highlight early signs often related to chronic disease (Nanox AI); a cloud-based infrastructure (Nanox.CLOUD); and a proprietary decentralized marketplace, through Nanox’s subsidiary, USARAD Holdings Inc., that provides remote access to radiology and cardiology experts; and a comprehensive teleradiology services platform (Nanox.MARKETPLACE). Together, Nanox’s products and services create a worldwide, innovative and comprehensive solution that connects medical imaging solutions, from scan to diagnosis. For more information, please visit www.nanox.vision.

About Beilinson Hospital

As one of Israel’s largest and most prominent medical centers, Beilinson leads the charge in implementing new innovative treatments while maintaining the highest standards of quality medical and nursing care. Since 1936, Beilinson Hospital in Petach Tikvah has grown to serve more than 500,000 patients annually. The 1,300-bed hospital in Central Israel, staffed by a team of 4,500 medical and support professionals, has 37 operating rooms, performs over 70-percent of all organ transplants in Israel, and welcomes more than 9,500 babies annually into the world through its robust labor and delivery department. For more information, please visit https://hospitals.clalit.co.il/rabin/en/Pages/default.aspx.

Forward-Looking Statements

This press release contains historical information and forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of Nanox. All statements that are not historical facts contained in this press release are forward-looking statements. Such statements include, but are not limited to, any statements relating to the initiation, timing, progress and results of the Company’s research and development, manufacturing, and commercialization activities with respect to its X-ray source technology and the Nanox.ARC, the ability to realize the expected benefits of its recent acquisitions and the projected business prospects of the Company and the acquired companies. In some cases, you can identify forward-looking statements by terminology such as the words “will,” “believe,” “expect,” “intend,” “plan,” “should,” “estimate”, “might”, “may”, “should”, “anticipate”, “expect”, “predict”, “potential” and similar expressions which are intended to identify forward-looking statements. Forward-looking statements are based on information the Company has when those statements are made or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause actual results to differ materially from those currently anticipated include: risks related to (i) Nanox’s ability to complete development of the Nanox System; (ii) Nanox’s ability to successfully demonstrate the feasibility of its technology for commercial applications; (iii) Nanox’s expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its technology, the Nanox.ARC and Nanox.CLOUD from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; (iv) Nanox’s ability to realize the anticipated benefits of the acquisitions, which may be affected by, among other things, competition, brand recognition, the ability of the acquired companies to grow and manage growth profitably and retain their key employees; (v) Nanox’s ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.ARC; (vi) the market acceptance of the Nanox System and the proposed pay-per-scan business model; (vii) Nanox’s expectations regarding collaborations with third-parties and their potential benefits; (viii) Nanox’s ability to conduct business globally; (ix) changes in global, political, economic, business, competitive, market and regulatory forces; (x) risks related to the current war between Israel and Hamas and any worsening of the situation in Israel; (xi) risks related to business interruptions resulting from the COVID-19 pandemic or similar public health crises, among other things; and (xii) potential litigation associated with our transactions. 

For a discussion of other risks and uncertainties, and other important factors, any of which could cause Nanox’s actual results to differ from those contained in the Forward-Looking Statements, see the section titled “Risk Factors” in Nanox’s Annual Report on Form 20-F for the year ended December 31, 2022, and subsequent filings with the U.S. Securities and Exchange Commission. The reader should not place undue reliance on any forward-looking statements included in this press release.

Except as required by law, Nanox undertakes no obligation to update publicly any forward-looking statements after the date of this press release to conform these statements to actual results or to changes in the Company’s expectations.

Contacts

Media Contact:

Ben ShannonICR WestwickeNanoxPR@icrinc.com

Investor Contact:

Mike CavanaughICR Westwickemike.cavanaugh@westwicke.com