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(Alliance News) - Medical software services provider IQ-AI Ltd said Wednesday it has entered into an agreement to expand its product offering in the US and other international markets.
The company's Imaging Biometrics LLC unit has signed a non-exclusive business development and sales agreement with CorTechs Labs, a provider of quantitative analysis of brain structures and lesions.
The agreement will expand CorTechs' portfolio to include Imaging Biometrics' algorithms that advance clinical understanding of brain tumour pathology by quantitatively distinguishing tumour progression.
"For the first time IQ-AI's full range of products will have direct sales representation worldwide. We are very excited about the shared revenue potential of this agreement. CorTechs Labs has a well established and rapidly growing sales and marketing team who can introduce IB's portfolio to their existing and new clients," said Imaging Biometrics Chief Executive David Smith.
Shares in IQ-AI were up 7.9% at 1.30 pence each on Wednesday in late trade.