IQ-AI subsidiary gets rare paediatric disease designation FDA

(Alliance News) - IQ-AI Ltd on Friday said its subsidiary, Imaging Biometrics LLC, has been granted rare paediatric disease designation by the US Food & Drug Administration for its lead drug candidate, IB-003, or gallium maltolate for the treatment of ATRT.

The medical services firm and parent company of Wisconsin-based healthcare imaging software firm said if market approval for IB-003 is obtained under the RPDD, IB may qualify for a priority review voucher.

ATRT is a "highly aggressive" tumour. There are limited options for children with ATRT, IQ-AI said.

According to IQ-AI, IB-003 has demonstrated "promising potential2 in pre-clinical and clinical settings for the treatment of multiple brain tumours.

IQ-AI Chief Executive Officer Trevor Brown said: "Receiving this RPDD from the FDA underscores the unmet clinical need for children with ATRT. It is another critical milestone in our planning and development of IB-003."

Shares in IQ-AI were down 3.0% at 1.60 pence each in London on Friday afternoon.

By Sabrina Penty, Alliance News reporter

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