IQ-AI's Imaging Biometrics at the forefront of brain tumour analysis
- IQ-AI venture secures European patent for imaging tech
- IQ-AI trebles in value after impressive run of updates
- IQ-AI present their plans to finance brain tumour trial to evaluate efficacy of Gallium Maltolate
Quick facts: IQ-AI Ltd
Price: 7.25 GBX
Market Cap: £12.33 m
About the company
IQAI was created to accelerate the translation and commercialisation of proven imaging technologies, from the laboratory to routine clinical use, that have potential to dramatically impact the quality of life for patients facing brain tumours and other chronic diseases.
Brain tumour patients and especially those diagnosed with glioblastoma multiforme (GBM) for example face a dismal prognosis. Despite tremendous global efforts that span decades, only incremental improvements have been made in survivability and progression free survival.
The unmet clinical need of GBM and other diseases motivates IQAI to continuously innovate and deliver validated products that benefit patients. Since its inception, the company has aggressively proliferated its product portfolio, accelerated product and technology development, and obtained market clearance for new global territories.
How it is doing
The award was for ‘multiparameter perfusion imaging with leakage correction’.
"This EU patent further extends our leading position in the translation and development of novel MR Imaging technologies in major global markets,” said Michael Schmainda, chief executive of IQ-AI’s Imaging Biometrics subsidiary.
“We look forward to our continued collaboration with Dr Quarles, other collaborators on the grant, and the leading scanner vendors in the industry."
The sales include renewal licenses for established clients and a new installation of its brain tumour imaging platform IB Clinic at the Eastern Alabama Medical Center (EAMC).
IQ-AI Limited said its Gallium Maltolate phase I clinical trial has been rescheduled for the fourth quarter rather than the summer as planned after a change to the trial agent's encapsulation supplier.
“While the selection and qualification process will result in a delay, securing and establishing a robust supply chain now will benefit subsequent trial phases and support high-volume production capacity,” investors were told.
Insight: IQ-AI trebles in value after impressive run of updates
What management says
Michael Schmainda, co-founder and CEO of IQ-AI Limited's (LON:IQAI) subsidiary Imaging Biometrics presents their plans to finance brain tumour trial to evaluate the safety and efficacy of Gallium Maltolate in the treatment of this disease.
This type of cancer, Glioblastoma is the most common and aggressive primary brain cancer and has limited treatment options and a dismal prognosis.
If the trial is successful IQAI intends to apply to the US Food and Drug Administration (FDA) for orphan drug status under the FDA's orphan drug designation programme, which grants market exclusivity in the US for seven years following approval of the drug.
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