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IQAIs news made it to Daily Mail and This Money
https://www.dailymail.co.uk/money/markets/article-9676585/SMALL-CAP-MOVERS-NetScientific-soars-tapping-investors.html
Results next...
One in three MRI scans use contrast to improve the diagnostic accuracy of the scan. In the US alone, that equates to approximately 10 million scans per year of which 40% are neuro scans. While the associated cost savings of contrast agent material alone is substantial, the potential impact to routine clinical practice is also significant. For instance, not having to inject contrast agents results in more efficient clinical workflows. Moreover, since the administration of contrast agent is not always performed properly and may result in lost scanner time or rescheduled scans, patient throughput and scanner utilisation may also increase. There are also costs associated with the power injectors themselves. Most importantly, a successful gad-free program will further reduce the potential risks associated with gadolinium retention in the body.
Costs estimated at 1.3 Billion in the US alone per year. Success with this product alone will make current SP levels look very historic indeed.
IB CAD, GaM trials, IB Trax, auto segmentation IB/cortech platform 510k, IB suite picking up huge contracts, LSN sales updates, SC distribution in Asia - it is going to be a busy second half of the year!!
If successful, our development would eliminate the need of CAs and subsequently eliminate their associated health risks, streamline clinical workflows, reduce procedure costs due to contrast and administration, and conserve clinical resources (labour and equipment).
This invention is based on Deep Learning techniques using only non-contrast MR images as inputs, including T1-weighted, T2- weighted, fluid attenuation inverse recovery (FLAIR), and/or diffusion weighted- imaging (DWI) sequences. A collection of retrospectively collected inputs and the post-contrast T1+C as the target output are used to generate the Simulated T1+C image. The use of DL tools are increasing in application across a variety of fields and disciplines.
The approach described here generates an image analogous to post-contrast (T1+C) image without the use of an exogenous CAs. This image would be automatically generated within a few seconds and eliminate common operational and procedural errors plaguing current clinical practice.
In the USA alone, there were an estimated 39 million MR procedures performed in 2016. This equates to 19.5 million MR procedures that used CA's. Conservatively, if each dose of CA is $60, the direct material expense alone equates to roughly $1.2 billion. This does not include the indirect costs associated with operational inefficiencies.
IQ-AI intends to develop a technology that the Directors believe could completely eliminate the use of gadolinium-based contrast agents in MR imaging procedures. This could result in substantial savings in healthcare systems globally and avoid all of the emerging toxicity concerns associated with contrast agents. This invention is based on Deep Learning (DL) techniques using only non-contrast MR images as inputs.
David Smith, CEO of IQ-AI's operating subsidiaries commented "We are delighted to announce the filing of this patent. We believe the potential exists to develop, for the first time, a contrast agent-free imaging technology that should generate output comparable to traditional contrast-based imaging, offering significant savings to global healthcare systems. We now intend to develop the technology and conduct the clinical work necessary to prepare for worldwide regulatory submissions."
Gadolinium has been used for over 30 years as a contrast agent (CA) in imaging to allow health care practitioners to more clearly see abnormal, diseased, and even cancerous tissue.
It is estimated that up to 50% of all magnetic resonance imaging (MRI) and magnetic resonance angiography rely on the use of an exogenous contrast materials or agents, with gadolinium- based contrast agents (CAs) being the most common. CAs are administered intravenously and, when subjected to a magnetic field, enhance the diagnostic quality of MR scans by improving their sensitivity and/or specificity. MRI contrast injections improve diagnostic accuracy in some conditions, such as inflammatory and infectious diseases of the brain, spine, soft tissues and bones, by making images clearer so that the radiologist can better identify the location and extent of disease. The nature and extent of some cancers and benign tumours is best seen and assessed after an injection of CA. Also scans showing the function of blood vessels in real time can be carried out using CA's and many heart abnormalities can only be fully assessed with CAs.
Gadolinium is a rare earth metal. Compounds of gadolinium, in solution, are used as enhancing agents for MR imaging procedures due to their magnetic properties, and the way that they become concentrated in abnormal tissues in the brain and other body organs. Within the last 10 years, gadolinium-based products have been highlighted in numerous clinical papers showing their potential toxicity, retention in the human body for many years, and their potential to induce nephrogenic systemic fibrosis (NSF) in a small number of patients, particularly those with compromised kidney function.
Proper injection/administration of the CA requires additional patient time (not to mention discomfort) and, if not injected properly, results in wasted CA material, inefficient use of resources, and wasted MR scanner time. In these situations, rescheduling the patient and performing another scan may be required to achieve an accurate diagnosis.
Morla – tech companies like this are valued on 'potential' not revenue – potential is difficult to quantify and for markets to easily recognise, so you have to do enough research to have your own idea of what that equates to. By the time the big contracts come though, the market will have already caught on & this will be built into the SP.
Look at RENX 's half year report which showed a net loss of $14m with revenue of only $400,000 & yet their share price at the time was circa 990.00 which is a huge market cap for that revenue but valued on potential. They have since secured a government contract which shifted the SP to 1125.00 so largely had already been factored in. IMO IQAIs potential is currently overlooked, which can be illustrated by looking at the gulf in value between other tech companies in the sector like RENX.
I do agree that if we get news of contracts for LSN, SC, IB Neuro etc, it may be what shines a light on IQAI & we know an RNS can change things quickly here. None of us know when these share changing updates might land but we do know the products they are working on and rough time scales. It is up to you to decide if those products (including those recently released) have potential.
Re-read the final results & you'll get an idea of how much is going on and you should be able to work out roughly when bits of news are due.
IMO the transformational news (in the public domain) will be Gad free where updates could land anytime & IB CAD with accelerated development now with $3m grant. GaM will also be starting soon, there's auto-segmentation, IB Trax, cortech partnership 510k, & would expect news of mergers/acquisitions as well as other developments that will emerge from their various partnerships. ..etc etc
Thanks iPhone - views a lot of people share here on the site:
AI digital transformation in healthcare, in our view, will drive a complete restructuring of healthcare systems around the world.
Developing economies with poor or non-existent healthcare systems will likely jump straight to AI digital, in the same way they moved to digital banking without going through the ubiquitous bricks and mortar distribution networks of the ultra-developed economies.
The benefits of AI digital transformation, apart from the ease of cross-referencing data easily, cheaply, quickly and in huge volumes that will lead to more efficacious protocols, is saving medical administrative and travel time.
Saving medical administrative and travel time means more time for medical assessment and treatment rather than recording, searching and travelling.
In developing nations, where highly trained medical professionals are a rare resource, this is a critical advantage leading to better population healthcare and so faster overall economic development.
Ultra-developed economies are facing an unfavourable demographic (aging populations). Cost efficiencies available to such nations must be grasped with enthusiasm in order to stand any fiscal chance of maintaining affordability for free at point of use healthcare systems. For ultra-developed nations this, ultimately, is about political stability as much as it is about maintaining economic productivity and competitive advantage.
& what are IQAI doing - yes AI...
As well informed as ever Safy & iPhone!
Firstly, they do not have a broker. Secondly TB has advised IF (& is a big IF - remember 3M grant just paid) they require funding he will supply it so no placing coming. Appointing a broker (if they decide to) would be to attract institutional investors & gain fair value.
Safy, re-read this a few times until it make sense - ...there are regulations that determine which pieces of news require a company to RNS - meaning not all news flows through RNS & so many company achievements/news will be significant steps forward but not obliged to be updated by RNS & why companies update investors via social media.
We will get an RNS when the results of Gad free testing come through or IB Trax or auto-segmentation or IB CAD or contracts from IB trials or LSN contracts, 510k apps for Cortech.ai platform or patent approval for Spice & Gad free or merger/acquisitions update/conclusion, or appointment of broker or GaM trials update or use of their tech for other body areas… etc
The scale of all the on-going developments and with GaM trial due to start soon it seems now is the perfect time for the company to seek the appointment of a broker. This will be a huge boost as true value & forecasts can be made & most importantly they can open the door for institutional investors.
For clarity, there are regulations that determine which pieces of news require a company to RNS - meaning not all news flows through RNS & so many company achievements/news will be significant steps forward but not obliged to be updated by RNS & why companies update investors via social media.
We will get an RNS when the results of Gad free testing come through or IB Trax or auto-segmentation or IB CAD or contracts from IB trials or LSN contracts, 510k apps for Cortech.ai platform or patent approval for Spice & Gad free or merger/acquisitions update/conclusion, or appointment of broker or GaM trials update or use of their tech for other body areas… etc
The importance of IQAI's products having been chosen by the US National Comprehensive Cancer Network & the NCI Quantitive Imaging Network for use in multi-center clinical trials should not be overlooked. This sort of validation of their software is what will pave the way for IB's products becoming the standard choice. There are already signs this is happening with the IB suite being adopted by Keck & then Montgomary & are currently being trialled in US and Europe by at least 8 institutions.
Now many countries like the US are coming out of the pandemic, institutions are now able to re-focus streamlining process, reducing costs & improve patient outcome. IB have positioned themselves well for widespread adoption by increasing distribution partner agreements like the recently expanded business development agreement with Cortechs.ai which means their products are available immediately on their global delivery platform for radiology.
It is about getting the ball rolling & will be the same for their recent product releases like LSN which is tapping into a huge market & we should start to see the fruit of their marketing campaign over this last 6 months.
News on many fronts due here including an update on the biggest of all, Gad free, which if they crack it will be mega.
iPhone - it is clear from the progress the company has made over the last year with the products they have developed, obtained clearance for & brought to market, things do not stand still between RNS.
I think you need to re-read the RNS history or my last posts a few times & understand the extensive operations the company are involved in - each of which could lead to a company changing RNS.
& we don't know what other developments will come from any of their many collaborations like Keck or Mayo clinic.
Too much going on here for it not to come good so its a matter of when not if + could happen at any time. Anyone of its products have the potential to transform the company.
LSN – Interest continues to increase in the recent FDA-cleared and CE-marked LSN (Liver Surface Nodularity) - marketed Q1 - A single liver biopsy can cost between $2,000 and $3,000 per test and is associated with a risk of bleeding. Biopsy sampling is also prone to errors which may result in misdiagnosis. LSN's proprietary algorithms process CT images of a patient's liver to assess the nodules along the liver surface. This low cost, low-risk, non-invasive procedure provides physicians with new information that may aid in the staging of CLD and has the potential to become the standard of care for a significant global market.
Gad Free – currently being tested – TB said only word to describe initial results was ‘wow’ in RNS – what price would you put on this tech of being world first to eliminate use of Gad - the patent application submitted in Q4 2018, is advancing through the US Patent and Trademark Office review process.
IB Trax - an entirely new platform initially targeted to assist the assessment of metastatic brain tumours, is being developed in partnership with the Mayo Clinic.
IB portfolio – with flagship Neuro imaging recognised as the national standard for use on brain tumours (recently bought by Keck & Montgomary) – Now includes recent release of IB Stroke - current annual stroke related costs are $46 billion and are projected to increase to $94 billion by 2035. By capitalizing on existing software capabilities and regulatory clearances of the IB Clinic® software suite, IB Stroke is available in both Europe (CE Marked) and the US (FDA-cleared) markets. IQ-AI intends to serve this sizable market through annual subscriptions to IB Stroke.
Auto-segmentation - will fully automate the Company's "fractional tumour burden" ("FTB") mapping process. Eliminating this manual step will also enable FTBs to be offered via IB Clinic and render the full complement of IB software as a platform independent quantitative imaging solution.
GaM trials to start July (funded by TB IF required) - "The discovery that GaM has anticancer activity against glioblastoma in an animal brain tumour model is extremely exciting; it opens the door for developing it as a drug for treatment of glioblastoma in patients", said Dr. Chitambar. "The anticancer mechanism of GaM applies to other solid tumours as well", Dr. Chitambar added.
Stonechecker – improved version released & distributors sought as interest shown in Asia
IB CAD – recent $3M grant being used to accelerate the development of this product - will have the potential to detect and identify sites of infiltrating tumor growth not visible with current imaging methods. IB CAD has the potential to detect tumor cells in non-contrast enhancing regions, thus providing the ultimate in early detection, a key advancement for cancer treatment. This technology has the potential to disrupt the way surgery is performed, how radiation treatments are planned, and how treatment therapy is assessed.
Agree Hump, no surprise that sales were obviously suspended while institutions dealt with the crisis - US emerging from this now & emphasis will be on tech that can streamline process, reduce costs & pressure on clinicians as well as improve patient outcome. Also, companies like IQAI are valued on potential rather than current revenue (like RENX ) & that leaves us overlooked IMO - which is not necessarily a bad place to be as an investor. IQAI is perfectly placed to now take a chunk of this sector - sales started at back end of 2020, enquiries coming in on LSN, IB products being trialled, new products rolling out - the ball is starting to roll & the market will look again at potential here when prompted.
Patience is key, big things coming & a news rich year ahead. Worth re-reading the update a few times to see the potential here - DYOR
Agreed BB - a single RNS can change things dramatically & there are plenty in the pipeline; Gad free, IB Trax, auto-segmentation, IB CAD, contracts from IB trials, LSN update, 510k apps, patents pending (Spice & gad free), merger/acquisitions discussion's update/conclusion, 'other' . It is going to be a very busy year to come.
I would also not be surprised to see a NASDAQ listing app later this year, especially now they are starting the GaM phase I in July.
Agreed Phil - the Gad free is a massive product & will change things here. Not to forget the IB CAD which was originally due to be finished at the EOY but development will be accelerated by the recent grant.
News on many fronts due here with their ever expanding product range,. Expecting Auto-segmentation soon - maybe be included in EOY result.
Yes, NASDAQ do acknowledge the value in AI but other markets are starting to catch on, as its use is becoming more prevalent. Our US base will also help as we become more established there and as we have seen we have already forged important connections and are picking up contracts so we will not be overlooked for too long (IMO).