Specialist medical imaging technology company Feedback plc (LON:FDBK) said it is receiving significant interest in China for its TexRAD product.
In its full-year results statement it also mentioned it has seen an increase in purchase orders for TexRAD from leading medical institutions in South Korea; the company signed exclusive distributor agreements in the middle of the year covering South Korea and China.
READ: Feedback announces exclusive distribution agreement with China's Boya Digital Technology
Revenue for the year to the end of May rose to £465,885 from £431,454.
The loss before tax widened to £300,927 from £251,219 the previous year, reflecting an increase in operating expenses to £755,960 from £676,596.
The company ended the reporting period with cash and cash equivalents of £696,811, up from £105,673 a year earlier.
“Our technical and regulatory team have been working diligently on the delivery of a CE marked release of TexRAD Lung," said Dr Alastair Riddell, chairman of Feedback.
READ: Feedback PLC's eye on the prize: a CE mark for TexRAD
“We are acutely aware that this development has taken longer than originally expected; however, we are confident that our rigorous regulatory review will pave the way for new products and therefore maximise the potential for TexRAD's clinical use worldwide,” he continued.
“We remain focused on applying our leading research expertise to the clinical setting to drive future revenue growth and would like to thank our shareholders, customers and partners for their continued support."