IQ-AI Limited Technology Portfolio Update (6194L)
14 Gennaio 2021 - 08:00AM
UK Regulatory
TIDMIQAI
RNS Number : 6194L
IQ-AI Limited
14 January 2021
IQ-AI Ltd
("IQ-AI" or the "Company")
Technology Portfolio Update
In 2020, IQ-AI secured major clients and partners, introduced
new products, and accelerated the development of new technologies.
Today the Company is pleased to provide an update and an outline of
our major plans for 2021. IQ-AI's development pipeline is extensive
and growing.
Trevor Brown, CEO commented: "We are operating at a time of
rapid innovation where the development and clinical translation of
medical AI solutions will provide a paradigm shift in routine
clinical practice, resulting in improved patient care. The Company
is optimistic that substantial progress will be made in all these
initiatives during 2021".
1. IB Trax(TM), an entirely new platform initially targeted to
assist the assessment of metastatic brain tumours, is being
developed in partnership with the Mayo Clinic. The core team, which
includes Dr. Leland Hu, MD of the Mayo Clinic (Arizona, USA), has
begun translating the desired workflow into software requirements
and specifications. The focus is on providing a streamlined
workflow to systematically identify, quantify, and organize
volumetric analysis for metastatic brain lesions. The Board
believes that the initial version of IB Trax will form the
foundation for streamlining the assessment of other cancers and
pathologies.
2. The "Gad Free" technology is about to embark on the next
round of validation testing which includes subjecting the algorithm
to a comprehensive and extensive testing protocol. To accomplish
this, a large number of test datasets are being prepared to fully
assess the robustness of the technology. Although challenging, the
Board considers that this novel solution would be the first in the
world and the Company is confident the appropriate technical team
is in place to deliver. The patent application submitted in Q4
2018, is advancing through the US Patent and Trademark Office
review process.
3. Interest continues to increase in the recent FDA-cleared and
CE-marked LSN (Liver Surface Nodularity) platform. Prospective
users are inquiring about LSN's ability to perform virtual biopsies
to help assess chronic liver disease for an extremely large patient
population. In addition, the sales and marketing teams of the
Company's channel partners were trained on the functionality of the
LSN platform. While trade shows and scientific meetings are still
conducted virtually due to the pandemic, the Company will be
launching a series of marketing campaigns in Q1 to help accelerate
trials and adoption of LSN.
4. New releases for IB Clinic and StoneChecker are planned
throughout 2021. As more sites adopt IB Clinic's automated
processing, enhancing IB Clinic's ability to account for various
artifacts, such as head motion and inherent MR system variability,
will further improve the robustness of the processing and maintain
the high-quality output the Company's users have grown to expect
and appreciate. The Company continues to invest in its kidney stone
analysis software, StoneChecker, with plans to gain traction in the
market this year.
5. Sales of products and especially those optimised for treating
primary brain tumours will continue to be a priority in 2021. The
Company's fully automated and quantitative processing options
available in IB Clinic continue to gain interest at leading cancer
centres. There are currently six US-based sites that are arranging
for trials of IB Clinic with additional sites in Europe evaluating
IB software via one of the Company's channel partners. Several key
factors are driving increased interest. IB Clinic is the only
platform that automatically generates truly quantitative parameter
maps. It is the only commercially available perfusion platform
whose output has been rigorously compared to tissue biopsy samples.
It exactly matches the national recommended consensus standard in
acquisition and post-processing of datasets, providing an ideal
pathway for standardising on a proven brain tumour imaging
protocol. It enables accurate longitudinal comparison regardless of
scanner vendor, field strength, patient, or timepoint. Existing
clients have provided examples how the Company software has
provided an immediate impact to clinical decision making and has
provided rich information that optimises patient care.
6. Auto-segmentation will fully automate the Company's
"fractional tumour burden" ("FTB") mapping process. Eliminating
this manual step will also enable FTBs to be offered via IB Clinic
and render the full complement of IB software as a platform
independent quantitative imaging solution. The technology is being
implemented into a beta workflow for assessment by luminary sites
including the Mayo Clinic, Keck Medical Center at USC, the Medical
College of Wisconsin ("MCW"), and others. This beta evaluation is
expected to conclude in Q1 and, if the feedback dictates, further
refinements will be made to the technology.
7. The Company is fulfilling the work outlined in its two funded
grants collaborating with MCW and the Barrow Neurological Institute
("BNI"). Both grants are "industrial-academic partnerships", aimed
at commercialising technologies and incorporating them into routine
clinical use, and each grant is entering into the second year of
its five-year term. The grant in collaboration with MCW is the
second such award as part of the Quantitative Imaging Network
("QIN"). The QIN is an initiative sponsored by the US National
Cancer Institute ("NCI") promoting research, development, and
clinical validation of quantitative imaging tools and methods for
the measurement or prediction of tumour response to therapies in
clinical trial settings, with the overall goal of facilitating
clinical decision making. The grant in collaboration with BNI
includes working with major scanner vendors (GE, Siemens, and
Philips) to harmonise the way perfusion MRI data is collected and
post-processed. The involvement of the major scanner vendors is
exciting and very positive, and the Company looks forward to their
continued collaboration and support.
The Directors of the Company accept responsibility for the
contents of this announcement.
-ENDS-
For further information, please contact:
IQ-AI Limited
Trevor Brown/Vinod Kaushal/Qu Li
Tel: 020 7469 0930
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