Highlights

  • Micro-X has completed the critical design review for its Full Body CT project being developed under an agreement with the US Government's ARPA-H.
  • The milestone triggers a payment of AUD 1.6 million (US$1.2 million) to the company.
  • Completion of the review satisfies Milestone 7 under the ARPA-H Development Agreement.
  • The project will now progress into the Manufacturing stage for a full-size engineering prototype.
  • The review covered several core subsystems including detector arrays, multi-tube arrays, high-speed tube switching and system controls.

Micro-X Ltd (ASX:MX1) has achieved a significant development milestone in its Full Body CT program after completing the project's critical design review under its development agreement with the United States Government's Advanced Research Projects Agency for Health (ARPA-H). The completion of this stage enables the company to move into prototype manufacturing and secures a milestone payment of AUD 1.6 million (US$1.2 million).

The achievement represents an important step in the development of the Full Body CT system and reflects progress in the company's collaboration with ARPA-H, which awarded Micro-X a contract in November 2024 to develop next-generation full-body computed tomography technology.

Micro-X shares were trading flat at AUD 0.038 during the morning session on 10 June 2026 following the announcement. While the stock showed little movement on the day, it remains down 24.00% over the past 12 months.

About Micro-X

Micro-X is an Australian technology company focused on the development and commercialisation of X-ray imaging systems for healthcare and security markets. The company specialises in proprietary cold cathode carbon nanotube (CNT) emitter technology, which enables the production of X-ray systems that can operate with reduced size, weight and power requirements compared to conventional systems.

The company's technology platform allows electronic control of X-ray emitters and supports applications across medical imaging, defence, security screening and emergency healthcare settings.

Micro-X operates a vertically integrated design and manufacturing Facility in Adelaide, South Australia, while also expanding its commercial and technical presence in the United States through its Seattle-based operations.

Its product portfolio includes mobile digital radiology systems used in healthcare, military and veterinary environments, alongside advanced imaging and security screening projects supported by government agencies in Australia and the United States.

Critical Design Review Marks Major Program Milestone

The central focus of the latest update is the successful completion of the critical design review for the company's Full Body CT project.

A critical design review is an important stage in technology development that assesses whether a system's design has reached a level of Maturity suitable for manufacturing and testing. It typically involves extensive evaluation of system architecture, component integration, engineering performance and technical readiness.

For Micro-X, completion of this review satisfies Milestone 7 under its agreement with ARPA-H and confirms that the project has advanced beyond the design validation phase.

The company stated that the milestone involved detailed documentation and testing of several essential components of the system.

These included the CT detector array, the multi-tube potted array, high-speed tube switching technology and overall system control mechanisms.

By successfully completing the review process, Micro-X has demonstrated the technical readiness required to advance to the next stage of development.

AUD 1.6 Million Payment Secured

One of the immediate outcomes of the milestone achievement is the release of a payment from ARPA-H.

Under the terms of the development agreement, completion of the critical design review triggers a milestone payment of AUD 1.6 million, equivalent to approximately US$1.2 million.

The payment forms part of the broader funding framework supporting the Full Body CT program and reflects progress against agreed technical objectives.

Milestone-based funding arrangements are commonly used in advanced technology development programs, with payments linked to the successful completion of predetermined engineering and project deliverables.

For Micro-X, the latest payment provides additional support as the project moves into the manufacturing and prototype testing phase.

Project Advances into Prototype Manufacturing

Following completion of the design review, the Full Body CT program will now progress to the manufacture of its first engineering prototype.

According to the company, the prototype will be a full-scale laboratory system designed to demonstrate the core imaging capabilities of the technology.

The engineering prototype will be used to conduct testing on physical phantoms and other test objects, allowing developers to evaluate image generation, system functionality and overall performance.

This phase is expected to provide important technical information that can support future development activities and help validate the design under practical operating conditions.

The move into prototype manufacturing represents a transition from design and engineering activities toward physical system construction and testing.

Key Technologies Underpinning the System

The critical design review covered a range of technologies that form the foundation of the Full Body CT platform.

Among the systems assessed were the detector arrays responsible for capturing imaging data, as well as the multi-tube potted array that supports the X-ray generation process.

The review also included evaluation of high-speed tube switching capabilities and integrated system controls.

These components are intended to work together as part of the overall Full Body CT architecture.

The successful completion of testing and documentation across these subsystems indicates that the project has reached a level of maturity suitable for advancement into hardware manufacturing.

Management noted that the milestone reflects progress in both technical readiness and system design development.

ARPA-H Collaboration Continues to Progress

The Full Body CT project is being developed through a collaboration with ARPA-H, a United States Government agency focused on advancing transformative health technologies.

Micro-X secured the ARPA-H contract in November 2024, providing support for the development of a new full-body computed tomography platform.

The latest milestone forms part of the first phase of the agreement and represents one of several development stages planned under the program.

The collaboration provides Micro-X with access to funding and project support while enabling the company to apply its cold cathode X-ray technology platform to advanced medical imaging applications.

The completion of the critical design review demonstrates ongoing progress within the Partnership and advances the project toward its next technical objectives.

Technology Platform Supports Multiple Markets

The Full Body CT initiative is one of several programs being developed by Micro-X using its cold cathode X-ray technology.

The company has built a portfolio spanning both healthcare and security applications.

In healthcare, Micro-X currently markets mobile digital radiology systems that are used in hospitals, military environments and veterinary settings.

The company is also developing a miniature brain CT imaging system intended for stroke diagnosis in ambulances. That project has received support through Australian Government funding programs, including the Medical Research Future Fund and Industry Growth Program.

Outside healthcare, Micro-X has been engaged by the United States Department of Homeland Security to develop a next-generation airport security screening solution.

The Full Body CT project expands the company's presence within advanced imaging technologies and complements its broader product development strategy.

Why the Milestone Matters

The completion of a critical design review often represents one of the most important stages within an engineering program.

By successfully completing this phase, Micro-X has demonstrated that major design elements have undergone review and testing sufficient to support prototype construction.

The milestone also allows the company to progress from design activities into the physical manufacturing stage, where the technology can be evaluated under practical testing conditions.

The associated funding payment further confirms that project deliverables under the ARPA-H agreement have been achieved.

As development progresses, future prototype testing is expected to provide additional information regarding system performance and imaging capability.

What This Means for Investors

Micro-X's latest announcement centres on progress within its ARPA-H-funded Full Body CT development program. The completion of the critical design review represents an important engineering milestone that unlocks AUD 1.6 million in milestone funding and enables the project to move into prototype manufacturing.

The achievement demonstrates advancement in the company's imaging technology development efforts and supports the next phase of the Full Body CT program. Investors are likely to monitor future updates related to prototype manufacturing, testing outcomes and additional milestones under the ARPA-H agreement.