Feedback PLC AGM Statement (6593T)
18 Novembre 2019 - 08:01AM
UK Regulatory
TIDMFDBK
RNS Number : 6593T
Feedback PLC
18 November 2019
Feedback plc
AGM Statement
-- Bleepa making good progress with first pilot announced
-- Final outcome of TexRAD strategic review
-- Alastair Riddell retiring as Chairman
Cambridge, 18 November 2019: Feedback plc (AIM: FDBK, "Feedback"
or the "Company"), the specialist medical imaging technology
company, provides the following update ahead of its Annual General
Meeting, which is being held today at 3pm at the offices of
Peterhouse Corporate Finance Limited, 80 Cheapside, London, EC2V
6EE.
At the meeting, Dr Tom Oakley, CEO of Feedback, will make the
following statement:
"Our exciting new encrypted medical communication app, Bleepa ,
has made great strides since its launch at the NHS Expo 2019 in
September. We have received interest from clinicians and
professionals across both public and private hospitals, within the
UK and internationally. As detailed in the RNS Reach announcement
today, the first pilot study will commence at Pennine Acute
Hospitals NHS Trust in Manchester and the outcome of this pilot is
expected to provide the evidence base to support a number of
commercial opportunities for Bleepa .
"The strategic review for our TexRAD medical image analysis
technology has reached the conclusion that further clinical data is
required to support a US FDA submission; therefore, this process
has been put on hiatus. This decision follows an opinion from an
FDA regulation consultant, a Clinical Evaluation Report and two
pilot studies. The additional data that is required for the TexRAD
FDA submission is being provided by independent studies at academic
institutions and therefore the timing of data supplied is outside
the Company's control.
"We have made some product modifications to TexRAD Research in
response to customer feedback and are evaluating the impact of
these on revenue. In the near term, we will continue to sell TexRAD
within the research setting through third party distributors which
provides a more cost-effective avenue for maintaining our sales
efforts. As a result, we have reduced the resources associated with
TexRAD. These changes also allow us to redirect our efforts and
focus onto Bleepa , which we believe holds the largest mid-term
revenue opportunity for the Company. We will continue to assess
opportunities for the TexRAD platform and will update the market as
appropriate."
Dr Alastair Riddell, Chairman of Feedback, will also make the
following statement:
"I am honoured to have been Chairman of Feedback for the last
three years. The business has evolved to realise the potential of
its proprietary technology and its sophisticated cutting-edge tools
are aimed directly at helping clinicians and patients in the NHS
and beyond. The time has come to hand over the reins as
Non-executive Chairman to Professor Rory Shaw who brings valuable
clinical and commercial experience to the role and I believe will
guide the Company through its next stage of growth. Tom Oakley's
appointment as CEO has energised Feedback and with the exciting
launch of Bleepa , I feel confident that Feedback has a bright
future and I am proud to have been a part of building this
business."
-Ends-
Enquiries:
Feedback plc +44 (0)1954 718072
Tom Oakley, CEO IR@fbk.com
Lindsay Melvin, CFO
Allenby Capital Limited (Nominated Adviser)
David Worlidge / Asha Chotai +44 (0)20 3328 5656
Peterhouse Capital Limited (Joint Broker)
Lucy Williams / Duncan Vasey +44 (0)20 7469 0936
Stanford Capital Partners Limited (Joint +44 20 3815 8880
Broker)
Patrick Claridge / John Howes
+44 (0)20 7457 2020
Instinctif Partners feedbackplc@instinctif.com
Rozi Morris / Phillip Marriage
Notes to editors
About Feedback plc - www.fbk.com
Feedback plc (AIM: FDBK) is a specialist medical imaging
technology company providing innovative software and systems,
through its fully-owned trading subsidiary, Feedback Medical
Limited. Its products advance the work of radiologists, clinicians
and medical researchers by improving workflows and giving unique
insights into diseases, particularly cancer.
Feedback has launched Bleepa , a new secure, encrypted medical
communication app for clinicians accessible through smartphones,
tablets and desktops that facilitates rapid clinical messaging and
review of medical grade imaging for all members of a clinical team,
directly from a hospital Picture Archiving and Communications
System (PACS). For more information on Bleepa , see
www.bleepa.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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