Feedback (LON:FDBK) said its TexRAD Lung product could soon be available on the diagnostic imaging platform of a leading global imaging company.
The Aim-listed medical imaging software company has signed a letter of intent with the unnamed company and the expectation is that the partnership will make TexRAD Lung easily available for hundreds of potential users worldwide on a subscription basis.
Before that can happen the company needs to obtain the CE mark for TexRAD Lung to enable the product to be sold in the European Union and certain other markets.
WATCH: "There's a lot more to come", says Feedback boss ...
The company is targeting obtaining the CE mark in May of this year.
Feedback's subsidiary company, Cambridge Computed Imaging (CCI), continues to talk to other big names in the medical imaging world to broaden the potential routes to market for TexRAD.
Current trading going well
New purchase orders for the well-established TexRAD research version are continuing at a good rate ahead of the impending release of the first clinical version with keen interest being shown in India, the US and the UK, Feedback said in a trading update.
There remain significant opportunities for TexRAD in China and South Korea and some additional professional and legal costs have been incurred regarding advice on new distribution and licensing agreements that could substantially increase future revenues.
The company confirmed it is on track to report increased revenue for the financial year as a whole.
Shares in Feedback were up 14% to 1.65p in the first haf hour of trading.
More to follow ...