Iq-ai Ltd Share News (IQAI)

(Sharecast News) - IQ-AI announced on Thursday that its subsidiary Imaging Biometrics (IB) has entered into a global distribution agreement with AI Metrics.
The London-listed firm said the agreement granted IB non-exclusive global rights to market and distribute AI Metrics' 'LSN' image analysis product.

It described LSN as a first-to-market platform designed by AI Metrics as a virtual liver biopsy, evaluating liver surface nodularity (LSN) to assess chronic liver disease (CLD) using commonly-acquired CT images.

Leading up to the agreement, IB assisted AI Metrics in the development of the LSN software by working closely with AI Metrics' CEO, Dr Andrew Smith, who provided "valuable feedback" and enhancement suggestions to IB's development team.

IB also offered its regulatory expertise, and was assisting AI Metrics in obtaining CE-mark and FDA 510(k) market clearance in Europe and the United States, respectively.

"We are excited about partnering with Imaging Biometrics as we introduce LSN technology to the worldwide market," said AI Metrics chief executive officer Dr Andrew Smith.

"Their development efforts have been integral to bringing LSN from promising research to commercial introduction, and the continuity of our relationship moving forward will ensure that LSN can quickly gain rapid and widespread utilisation."

IQ-AI described chronic liver disease as a serious condition that included inflammation, progressive stages of fibrosis, and cirrhosis.

Clinically silent, more than 20 million deaths worldwide are attributed to CLD, with the majority of those resulting from non-alcoholic fatty liver disease.

AI Metrics had developed its proprietary LSN software to non-invasively assess the nodules, or bumps, on the liver's surface.

That information, when used by trained clinicians, could aid in the diagnosis and staging of CLD.

Currently, clinicians assessed patient liver condition via surgical biopsy, which was prone to sampling error, pain, bleeding, and other complications.

In contrast, LSN analysis used common CT scanning technology and proprietary software for accurate, low risk assessment of CLD.

While other non-invasive imaging approaches were available, such as magnetic resonance elastography and ultrasound elastography, both required non-standard imaging technology, and patient fasting beforehand.

"LSN fits perfectly with IB's product portfolio and we look forward to helping deploy LSN worldwide," said IB director Michael Schmainda.

"The ability to non-invasively and accurately assess CLD is exciting for clinicians and will ultimately benefit patients."

At 0942 GMT, shares in IQ-AI were down 0.4% at 4.78p.