Nanox Announces Successful Demonstration of the Nanox.ARC Prototype During RSNA 2020

NEVE ILAN, Israel, Dec. 03, 2020 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD (NASDAQ: NNOX) (“Nanox” or the “Company”), an innovative medical imaging technology company, announced today that the Company successfully demonstrated its Nanox.ARC next-generation x-ray prototype at the 2020 Radiology Society of North America (RSNA) Virtual Annual Meeting. The live demonstration featured a range of 2D and 3D imaging procedures using its groundbreaking digital X-ray tube in a unique multi-source array structure.

Ran Poliakine, Chairman and Chief Executive Officer of Nanox, stated: “We are pleased to have now demonstrated a working prototype of our next generation digital x-ray technology, the Nanox.ARC, in a range of medical imaging procedures that produced unique clinical value. We believe the Nanox.ARC has the potential to significantly expand the market by providing access to the roughly two-thirds of the world’s population who currently do not have access to medical imaging. If successful, we believe this can revolutionize preventive healthcare through early detection of serious and costly medical conditions. To date, we have signed agreements for the deployment of more than 5,100 Nanox.ARC units through our service providers in numerous countries, and, pending local regulatory approvals and customer acceptance, we believe we can begin deployments as early as mid-year 2021.”

A replay of the live demonstration will be available later today on the Investors section of the Company’s website, www.nanox.vision, under “Events & Presentations” on the “Investors” page.

About Nanox:

Nanox, founded by the serial entrepreneur Ran Poliakine, is an Israeli corporation that is developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications. Nanox believes that its novel technology could significantly reduce the costs of medical imaging systems and plans to seek collaborations with world-leading healthcare organizations and companies to provide affordable, early detection imaging service for all. For more information, please visit www.nanox.vision.

Forward-Looking Statements:

This press release may contain forward-looking statements that are subject to risks and uncertainties. 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 Nanox's research and development, manufacturing and commercialization activities with respect to its X-ray source technology and the Nanox.Arc. In some cases, you can identify forward-looking statements by terminology such as “can,” “might,” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “should,” “could,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on information Nanox 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 business interruptions resulting from the COVID-19 pandemic or similar public health crises could cause a disruption of the development, deployment or regulatory clearance of the Nanox System and adversely impact our business; Nanox's ability to successfully demonstrate the feasibility of its technology for commercial applications; Nanox's expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its X-ray source technology and the Nanox.Arc from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; Nanox's ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.Arc; the market acceptance of the Nanox.Arc and the proposed pay-per-scan business model; Nanox's expectations regarding collaborations with third-parties and their potential benefits; and Nanox's ability to conduct business globally, among others. 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 Nanox's expectations.

Contacts:

Investors

Itzhak Maayan
Nanox Imaging
IR@nanox.vision

Bob Yedid
LifeSci Advisors
646-597-6989
[email protected]

Media

Alona Stein
ReBlonde for Nanox
[email protected]