Cyclopharm
Cyclopharm (ASX:CYC), trading as Cyclomedica, is an Australian radiopharmaceutical company that commercializes Technegas, a proprietary nuclear medicine technology for pulmonary ventilation imaging, serving nuclear medicine hubs and hospitals across 65 countries via recurring per-procedure consumables.
- Company typePublic
- Founded1986
- HeadquartersSydney, Australia
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Cyclopharm does
Cyclopharm Limited (ASX:CYC), operating commercially as Cyclomedica, is an Australian radiopharmaceutical company founded in 1986 that develops and commercializes Technegas, a proprietary nuclear medicine technology for pulmonary ventilation imaging. Technegas produces ultra-small carbon-like radioactive particles that patients inhale during SPECT-CT scans to diagnose pulmonary conditions including pulmonary embolism, asthma, COPD, lung cancer, pulmonary hypertension, long COVID, and silicosis. The company is headquartered in Sydney with US operations in Georgia (Atlanta office, Tucker distribution center) and sells into nuclear medicine hubs across 65 countries.
The business model is anchored on an annuity revenue stream from recurring per-patient Technegas consumables used in each ventilation imaging procedure, supplemented by third-party distribution of partner products through the same global network. Cyclopharm reached a notable commercial inflection in Q4 2023 when it secured USFDA approval for Technegas, enabling direct entry into the US market — the largest single opportunity, given that the US hosts roughly half of the world's nuclear medicine hubs. The company is pursuing dual growth vectors: doubling US nuclear medicine market share from 15% to 30%, and broadening Technegas into additional clinical indications (with stated combined potential of $900 million USD), validated through research partnerships including a November 2025 alliance with Western University in Canada for mild-to-moderate asthma. Recent operating signals include a 32% YoY sales surge, 4.1% Technegas-specific growth, and a 124% leap in partner-led distribution. With 51-100 employees and multi-jurisdiction regulatory coverage (EU MDR, MDSAP, USFDA), Cyclopharm's stated strategic roadmap targets emergence as a global billion-dollar enterprise within the forthcoming decade.
Cyclopharm firmographics
Firmographics- Name
- Cyclopharm
- Legal name
- Cyclopharm Limited
- Website
- https://cyclopharm.com
- Company type
- Public
- Founded year
- 1986
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Cyclopharm (ASX:CYC), trading as Cyclomedica, is an Australian radiopharmaceutical company that commercializes Technegas, a proprietary nuclear medicine technology for pulmonary ventilation imaging, serving nuclear medicine hubs and hospitals across 65 countries via recurring per-procedure consumables.
- Ownership category
- akta.pro rank
Cyclopharm industry classification
Industry- Product category
- Nuclear Medicine Imaging Devices and Consumables
- NAICS
- Industrial Gas Manufacturing (32512)
- SIC
- In Vitro & In Vivo Diagnostic Substances (2835)
- akta.pro primary industry
- Radiopharmaceutical & Nuclear Medicine Distributors (HLAIAJAI)
- akta.pro secondary industries
- Pulmonary Function Testing (PFT) & Respiratory Diagnostics (HLAKANAC), Medical & Healthcare Gases (IMAEACAF)
Keywords
Where Cyclopharm is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Cyclopharm business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Infrastructure
Revenue model
- Technegas Consumables: The majority of revenues are generated from recurring per-patient consumables used in nuclear medicine ventilation imaging procedures. This annuity revenue model provides predictable recurring revenue from each procedure performed at customer sites.
- Third-party Distribution: Revenue boosted by third-party distribution of partner products through Cyclomedica's global network, complementing the core Technegas consumables business.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Cyclopharm product offering
Product offeringCore offering
Cyclopharm (operating under the Cyclomedica banner) develops and commercializes Technegas®, a nuclear medicine technology that produces carbon-like radioactive ultrafine particles inhaled by patients for pulmonary ventilation imaging during SPECT-CT procedures. The company sells the Technegas generator device and recurring per-patient consumables to nuclear medicine departments and hospitals for the diagnosis of pulmonary embolism, asthma, COPD, lung cancer, pulmonary hypertension, Long COVID, and silicosis across 65 countries. Revenue is primarily generated from an annuity model based on recurring consumables used in each ventilation imaging procedure.
Product overview
Cyclopharm operates under the Cyclomedica banner and offers a single unified product: Technegas®, a groundbreaking pulmonary diagnostic imaging technology using nuclear medicine and molecular imaging. The product is used for ventilation imaging of the lungs across 65 countries. Revenue is primarily generated from recurring per-patient consumables under an annuity revenue model, supplemented by third-party distribution partnerships. The company develops state-of-the-art medical equipment and supports innovative research initiatives into new indications including Pulmonary Embolism, Asthma, COPD, Lung Cancer, Pulmonary Hypertension, Long COVID, and Silicosis.
Differentiator
Problem solved
Functional benefit
Brands
- Technegas®: Groundbreaking pulmonary diagnostic imaging technology for ventilation imaging, revolutionizing nuclear pulmonology imaging globally.
Products and services
- Technegas® Technegas is a groundbreaking nuclear medicine technology that produces carbon-like radioactive ultrafine particles for ventilation imaging of the lungs during SPECT-CT procedures. It is sold to nuclear medicine hubs and hospitals globally for diagnosis of pulmonary embolism, asthma, COPD, lung cancer, and other pulmonary conditions. Technegas has been commercialized since 1986 and is used in 65 countries.
- Technegas Consumables Single-use consumables used with the Technegas generator device for each pulmonary ventilation imaging procedure performed at customer sites. They generate predictable recurring revenue per patient scan and are sold to nuclear medicine departments and hospitals.
- Third-Party Partner Product Distribution Distribution of third-party partner medical imaging and nuclear medicine products through Cyclomedica's global sales, regulatory, and service footprint spanning 65 countries; complementary to the core Technegas business with 124% year-on-year leap in partner distribution.
Quantifiable outcome
- 32% record-breaking sales surge year-on-year
- +2 more outcomes
Companies that use Cyclopharm
Customer profileSegments2 records
Ideal customer profiles2 records
Cyclopharm technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Cyclopharm partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Western University (Canada)coreCyclopharm partnered with Western University in Canada in November 2025 to explore new uses for Technegas® in detecting mild-moderate asthma. This research partnership expands the clinical application of Technegas into a new therapeutic indication, supporting the company's strategy to broaden scope into new conditions with potential value of $900m USD.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Cyclopharm competitors and assessment
Company assessmentMarket position
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Cyclopharm social profiles
Digital presenceCyclopharm compliance and trust
Trust signalCompliance2 records
Cyclopharm financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cyclopharm leadership team
Management profileNumber of profiles
Cyclopharm funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cyclopharm M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cyclopharm
What does Cyclopharm do?
Cyclopharm (operating under the Cyclomedica banner) develops and commercializes Technegas®, a nuclear medicine technology that produces carbon-like radioactive ultrafine particles inhaled by patients for pulmonary ventilation imaging during SPECT-CT procedures. The company sells the Technegas generator device and recurring per-patient consumables to nuclear medicine departments and hospitals for the diagnosis of pulmonary embolism, asthma, COPD, lung cancer, pulmonary hypertension, Long COVID, and silicosis across 65 countries. Revenue is primarily generated from an annuity model based on recurring consumables used in each ventilation imaging procedure.
Is Cyclopharm a public or private company?
Cyclopharm is a public company. It is classified as public and is currently operating.
When was Cyclopharm founded?
Cyclopharm was founded in 1986. It employs 51 to 100 people.
Where is Cyclopharm based?
Cyclopharm is headquartered in Sydney, Australia, in the Oceania region.
How does Cyclopharm make money?
Two revenue lines are on record. Technegas Consumables are the primary driver. The others are third-party Distribution.
Does Cyclopharm have an API?
No public API is recorded for Cyclopharm.
What industry is Cyclopharm in?
Cyclopharm's product category is Nuclear Medicine Imaging Devices and Consumables. Its primary akta.pro industry code is HLAIAJAI, Radiopharmaceutical & Nuclear Medicine Distributors, with a secondary code of HLAKANAC, Pulmonary Function Testing (PFT) & Respiratory Diagnostics. Its NAICS code is 32512 and its SIC code is 2835.