Its race to find alternatives appears to be a well-timed one given the latest welter of clinical evidence linking these gadolinium products with a host of conditions.
Included on that list is nephrogenic systemic fibrosis, a rare disease which leads to skin contractures. Other side-effects include bone and brain deposits; rashes and aching joints.
IB has been working on a portfolio of products that cut down on the use of gadolinium with the aim, longer term, of finding alternatives to the element.
It currently offers two methods that eliminate the "pre-load" dose of traditional gadolinium-based contrast agents (GBCA), which significantly reduces the exposure to the potentially harmful chemicals – the products are Dual Echo and Low Flip Angle.
And IB is working on a technology called simulated T1+C that would generate results almost identical to a post-contrast image but without the use of a contrast agent. Simulated T1+C version 2.0 is the firm’s zero GBCA product.
IQ-AI chief executive Trevor Brown said: "[We are] committed to lowering the GBCA doses used for all populations, but particularly those most vulnerable to gadolinium deposition disease.
“The gadolinium free imaging project, if successful, will have a significant impact on the revenues of the company over coming years. We will continue to update shareholders as matters progress."
In lunchtime trading, shares in IQ-AI were 0.6% higher at 4.45p.
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