Endra

What Endra does

ENDRA Life Sciences Inc. (NASDAQ: NDRA) is a public medical-technology company headquartered in Ann Arbor, Michigan, founded in 2007. The company's commercial focus is its CE-marked TAEUS® (Thermo-Acoustic Enhanced UltraSound) platform, which combines radio-frequency stimulation with conventional B-mode ultrasound to non-invasively quantify hepatic steatosis. Multi-site clinical validation in 64 patients demonstrated r=0.90 correlation to MRI-PDFF (the imaging gold standard) and an intraclass correlation coefficient of 0.89, positioning TAEUS as a non-invasive, point-of-care alternative to liver biopsy and MRI at roughly 50x lower cost per scan. A legacy product, the Nexus 128 fully 3D photoacoustic imaging system, continues to serve laboratory research customers. ENDRA holds ISO 13485:2016 certification (BSI, valid 2025-2028) and a CE mark for European sale but is not FDA-approved for the U.S. market.

The business model is a hardware-plus-software sale of TAEUS devices to hospitals, hepatology/gastroenterology clinics, and pharmaceutical companies conducting NAFLD/NASH and obesity-drug clinical trials, with distribution supported by a strategic partnership with GE Healthcare and direct enterprise field sales. The company reports only one named commercial installation to date — King's College Hospital in London (February 2024) — alongside several research/validation collaborations with academic medical centers (UPMC, Medical College of Wisconsin, Centre Hospitalier Universitaire d'Angers, Rocky Vista University). In October 2025, ENDRA pivoted a portion of its capital structure toward a digital asset treasury managed by Arca Investment Management, and in March 2026 its board initiated a strategic alternatives review, followed by a June 2026 announcement of a merger with Noble Africa LLC (an ASP Isotopes subsidiary) under which ENDRA shareholders would own approximately 3% of the combined entity. As of Q1 2026 the company reported just $356,000 of cash, $2.4M of digital assets, and a market capitalization of approximately $4M, and in April 2026 received a Nasdaq delisting notice for non-compliance with the minimum stockholders' equity requirement.

Name

Endra

Legal name

ENDRA Life Sciences Inc.

Website

https://endrainc.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

ENDRA Life Sciences (NASDAQ: NDRA) commercializes TAEUS®, a CE-marked thermoacoustic-ultrasound device that non-invasively measures liver fat for hospitals, hepatology clinics, and pharma trial sponsors in Europe as a lower-cost alternative to MRI.

Ownership category

akta.pro rank

Product category

Medical Imaging Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Ultrasound & Echography Systems (HLAHABAD)

Keywords

• Medical imaging devices
• Liver fat diagnostics
• Thermo-acoustic ultrasound
• Photoacoustic imaging systems
• NAFLD diagnostic technology

Headquarters

HQ city

Ann Arbor

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. TAEUS Device Sales: ENDRA generates revenue from the sale of TAEUS medical devices to healthcare providers. The device is sold as hardware that pairs with existing B-mode ultrasound machines, with proprietary software for tissue analysis. CE-marked for commercial sale in Europe.
2. Digital Asset Treasury: In 2025, ENDRA announced a digital asset treasury strategy managed by Arca Investment Management to acquire cryptocurrencies and generate yield from digital assets.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

ENDRA Life Sciences develops and commercializes TAEUS (Thermo-Acoustic Enhanced UltraSound), a CE-marked medical device that pairs with existing B-mode ultrasound machines to non-invasively measure liver fat content by combining radio frequency stimulation with ultrasound detection. The device delivers MRI-level accuracy (r=0.90 correlation to MRI-PDFF) at approximately 50x lower cost than MRI, producing point-of-care results in under a minute for NAFLD/MASH diagnosis and monitoring. The company also maintains the Nexus 128, a fully 3D photoacoustic imaging system for laboratory research applications.

Product overview

ENDRA Life Sciences offers a focused portfolio of two distinct products built on thermo-acoustic and photo-acoustic ultrasound technologies. The core commercial product is TAEUS® (Thermo-Acoustic Enhanced UltraSound), a CE-marked clinical device for non-invasive liver fat measurement that pairs with conventional B-mode ultrasound machines and targets the MASLD/MASH diagnostic market at a fraction of MRI cost. The legacy Nexus 128 is a research-only 3D photoacoustic imaging system that preceded TAEUS and served laboratory researchers. TAEUS is the primary focus for clinical commercialization, while Nexus 128 represents the foundational research platform from which TAEUS technology was derived.

Differentiator

Problem solved

Functional benefit

Brands

• TAEUS®: Thermo-Acoustic Enhanced UltraSound device for liver disease detection - a proprietary technology combining radio frequency and ultrasound to measure fat in the liver at 50x lower cost than MRI.
• Nexus 128

Products and services

• TAEUS (Thermo-Acoustic Enhanced UltraSound) Liver Device CE-marked clinical medical device that combines radio frequency stimulation with ultrasound detection to non-invasively quantify liver fat content. Pairs with existing B-mode ultrasound machines, delivers results in under a minute at the point of care, and demonstrates r=0.90 correlation to the MRI-PDFF gold standard at approximately 50x lower cost than MRI. Targeted at hospitals, hepatology clinics, pharmaceutical trial sponsors and academic medical centers for NAFLD/MASLD/MASH diagnosis and monitoring.
• Nexus 128 Photoacoustic Imaging System First commercially available fully 3D photoacoustic imaging system for laboratory research, providing increased sensitivity, isotropic resolution, improved image quality, faster scan times and higher throughput for imaging anatomy, physiology and labeled molecular targets using near-infrared light and a hemispherical detector array.

Quantifiable outcome

• Correlation of r=0.90 to MRI-PDFF gold standard in multi-site clinical validation with 64 patients
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• King's College HospitalcoreImplementation/ SI/ Consulting Partner · 1 February 2024First commercial installation of TAEUS Liver device completed in February 2024 for clinical use in liver fat monitoring.
• GE HealthcarecoreTechnology or IntegrationStrategic partnership with GE Healthcare as a dedicated partner for distribution and market access. GE is one of the world's foremost healthcare technology companies and global leader in medical imaging. GE Healthcare's Vice President and GM of General Imaging Ultrasound stated alignment with GE's mission of increasing access to high-quality, cost-effective healthcare.
• Rocky Vista UniversitycoreStrategic or Co-development PartnerClinical partner conducting research on abdominal ultrasound and quantitative ultrasound imaging. Dr. Jing Gao serves as Associate Professor of Ultrasound and provides clinical expertise and validation support.
• UPMCcoreStrategic or Co-development PartnerClinical research partner in Pittsburgh, PA for TAEUS device validation studies and clinical research collaborations.
• Centre Hospitalier Universitaire d'AngerscoreStrategic or Co-development PartnerClinical partner in Angers, France for TAEUS validation studies and clinical research.
• Medical College of WisconsincoreStrategic or Co-development PartnerClinical research partner in Wauwatosa, WI for TAEUS device validation and clinical studies.
• Hepion PharmaceuticalsminorStrategic or Co-development PartnerIndustry and research partner for clinical collaboration on liver disease therapeutics and diagnostic monitoring.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• GE Healthcare: ENDRA's distribution partner and a global leader in medical imaging, including ultrasound systems. GE Healthcare's LOGIQ/E-Series ultrasound installed base is the target hardware platform for TAEUS integration, making it both a commercial partner and a strategic incumbent that could develop competing capabilities.
• Siemens Healthineers: Major medical imaging vendor with ultrasound, MRI, and dedicated liver imaging products (e.g., LiverLab on MAGNETOM scanners). Competes with TAEUS for the liver fat quantification use case through its broader installed base and integrated imaging IT.
• Philips: Global medical imaging incumbent offering EPIQ and Affiniti ultrasound systems that compete for the same point-of-care liver imaging workflow. Philips' installed base and IntelliSpace Portal data integration are direct competitive considerations for TAEUS adoption.
• FUJIFILM Healthcare (formerly Hitachi Medical Systems): FUJIFILM Healthcare (combining Hitachi diagnostic imaging) markets ultrasound and MRI systems used in hepatology workflows. It is a broad incumbent in the same hospital imaging channels where TAEUS would be deployed.
• Canon Medical Systems: Canon Medical markets Aplio ultrasound systems and Vantage Galan MRI systems with liver imaging capabilities. As a broad imaging incumbent it competes for hospital capital budgets and clinical workflow share relevant to TAEUS.
• Hologic: Hologic has expanded into liver diagnostics through its acquisition of Biotheranostics and broader women's health/diagnostics franchise. It is a broad incumbent that could expand into NAFLD/MASH non-invasive diagnostics adjacent to TAEUS's target market.

Direct peers

• Perspectum: Perspectum offers LiverMultiScan, an MRI-based quantitative liver tissue characterization service for fat, iron, and fibrosis. It competes with TAEUS for the same NAFLD/MASH diagnostic use case but via MRI rather than ultrasound.
• Echosens: Echosens markets FibroScan, the leading non-invasive point-of-care device for liver steatosis and stiffness assessment. It is the most direct competitive alternative to TAEUS for NAFLD/MASH diagnosis and monitoring in hepatology and endocrinology workflows.

Emerging players

• Resonance Health: Specialized in MRI-based liver iron (FerriSmart) and liver fat quantification. Competes with TAEUS for NAFLD/MASH monitoring use cases via a non-invasive imaging biomarker approach, though at a different cost point and modality.
• Owlstone Medical: Owlstone Medical develops breath-based diagnostics including for liver disease. It is an emerging non-invasive alternative addressing the same NAFLD/MASH screening and monitoring use case as TAEUS, but via volatile organic compound analysis rather than imaging.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/endralifesci
• LinkedInlinkedin.com/company/endra-inc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Endra