(Alliance News) - IQ-AI Ltd said on Friday that the T1+C software, developed by its subsidiary, Wisconsin-based Imaging Biometrics LLC, was granted a patent by the US Patent & Trademark Office.
The Jersey-based medical services and software company said the patent issue highlighted the potential for artificial intelligence to improve medical treatment and diagnostic accuracy. Imaging Biometrics' T1+C software removes the need to inject a contrast agent into a patient undergoing medical imaging procedures.
Currently, contrast agents are administered to patients to improve the contrast level of images taken using x-rays, computed tomography, magnetic resonance imaging and ultrasound. The enhanced contrast makes the images clearer and improves diagnostic accuracy.
The T1+C software automatically adds accurate contrast to non-contrasted images from medical imaging procedures, mimicking the effect of a contrast agent but avoiding potential side effects and patient discomfort. The newly issued patent gives IQ-AI control over who can and cannot use the T1+C technology.
"This patented technology now available in the [IQ-AI] portfolio has the potential to directly impact routine clinical workflows globally," said Trevor Brown, chief executive of IQ-AI.
In April, IQ-AI reported that its revenue dropped 6.5% to GBP255.2 million in 2020 from GBP272.9 million in 2019. Meanwhile the company's pretax loss widened in 2020 to GBP717.5 million from GBP638.7 million the year prior.
IQ-AI shares were trading up 15% at 9.07 pence each in London on Friday morning.
By Scarlett Butler; scarlettbutler@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Iq-ai Ltd (IQAI)