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Source - https://aycan.com/new-plug-in-for-aycan-workstation-detects-and-stages-liver-disease-eliminating-need-for-invasive-biopsies

New plug-in for aycan workstation detects and stages liver disease; advanced technology eliminates need for invasive biopsies

Rochester, New York, January 22, 2021. aycan, a recognized worldwide leader in medical imaging, announced today the availability of a new software plug-in for aycan workstation, Liver Surface Nodularity (LSN). Developed by AI Metrics, LLC and manufactured by aycan business partner Imaging Biometrics, this advanced technology provides a non-invasive method to diagnose and stage chronic liver disease and predict future liver events without the need for a patient biopsy.
With higher stages of chronic liver disease, the liver surface becomes more nodular due to increasing amounts of liver fibrosis. Liver surface nodularity (LSN) is visible on routine abdominal CT images. Using the advanced LSN software, radiologists can now non-invasively and rapidly measure LSN from routine abdominal CT images and generate a Liver Score, which can be used to evaluate the severity of chronic liver disease, eliminating the need for a biopsy.

aycan workstation is an FDA 510(k) cleared, vendor-neutral, highly functional advanced image-processing tool and DICOM PACS workstation for conventional, multi-slice, and other image reading. aycan continually develops/adds clinical and workflow plug-ins to further enhance the capabilities of aycan workstation, which, in addition to the new LSN software, includes hanging protocols, and FusionSync (automatic image fusion plug-in).

ABOUT aycan

With a focus on vendor-neutral integration and service, aycan is a leading global provider of solutions for viewing, printing, sharing, and storing medical images and information that improve workflow efficiency and drive down costs. aycan works with other industry innovators such as Apple and Xerox, whose quality products are part of their solutions. aycan supports worldwide customers with U.S. headquarters in Rochester, New York, and European headquarters in Wuerzburg, Germany. The company is privately held. www.aycan.com

Great to see that IB have now retweeted Aycan for this.

Now let’s see the same from AI Metrics LLC and other channel partners.

Time to build the momentum...

Given that the LSN Software is a potential strong revenue generator for the company, I would have expected that the main IB website be updated to list this as one of their key products with recent approval.

I can’t seem to find it on their website.

The company needs to get its marketing in to gear over Q1.

If you look at the last RNS it was very much written as a sales brochure, so I very much believe this is their overall intention with the company.

If not, they will need to focus significantly on sales generation and may need further fundraises to progress company growth.

They have built the strong foundations for the company in 2020 and now they need to convert on this investment.

They could be trying to stabilise the share price given the markets reaction to the last RNS and the subsequent sell off.

Either way, more frequent news from the company is a good thing.

Another important element within the RNS regarding the potential of IB Trax.

“ The Board believes that the initial version of IB Trax will form the foundation for streamlining the assessment of other cancers and pathologies.”

This shows that IB are fully committed to their business plan of expanding their reach outside of neurology.

A positive sign for the future a derisks the company from being a one trick pony.

We shouldn’t underestimate the importance of IB working with GE, Siemens, and Philips.

They all have sizeable healthcare businesses and have ventured into AI healthcare.

It is great to see the company pivoting to revenue generation and marketing whilst also maintaining an innovate product roadmap.

Lots of great products here which will change the standard of healthcare.

I particularly like the statement that IB Trax will also open up other cancer areas. Looks like the company have plans to expand significantly outside of the neurology area.

Lots more to come here...

I’m not sure if this was commented on at the time, but on the 29th December IB retweeted the following:

Did you hear the great #news? Blackford and Bayer announced collaboration on Medical Imaging AI Platform #AI #radiology

The fact that this was important enough for IB to retweet suggests to me that this new AI Platform is going to help IB gain access to a wider customer base.

https://www.blackfordanalysis.com/2020/12/01/bayer-and-blackford-collaborate-on-medical-imaging-ai-platform/?utm_content=150016843&utm_medium=social&utm_source=twitter&hss_channel=tw-1920073382

From the press release:

“Via a curated marketplace, the Bayer platform will allow healthcare professionals to access and centrally manage a range of imaging applications and AI tools from Bayer, as well as from strategic external partners.”

This is not an insignificant platform given the size of Bayer:

“ About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2019, the Group employed around 104,000 people and had sales of 43.5 billion euros. Capital expenditures amounted to 2.9 billion euros, R&D expenses to 5.3 billion euros. For more information, go to www.bayer.com.”

Watch this space for when the Bayer Platform comes online.

For anyone that missed this, AI Metrics LLC received FDA clearance yesterday for their cancer imaging software.

This is all positive publicity for the company which owns the LSN software and for which IB have an exclusive distribution agreement.

Worth looking into...there have been two days of consecutive rises on low volumes.

It could be related to their Bleepa product but they also licence out the TexRad algorithm for the StoneChecker software.

A long shot link to StoneChecker sales?

Yes he has been very influential Claire.

From the October StoneChecker Update RNS:

Last December's decision to dispose of SC enabled existing resources to accelerate the development of key initiatives in Imaging Biometric's neuro imaging platforms. This accelerated pathway included the addition of a recognized artificial intelligence (AI) expert, Dr. Jay Urbain, PhD, to the development team in January 2020. The added development capacity of Dr. Urbain has allowed the existing developers to focus and complete numerous initiatives ahead of schedule.

Hi All,

A good read to get a better understanding of the Arterys Marketplace and how it works.

IB have a number of AI models on this platform available for use and is also include as part of the Neuro AI product.

https://blogs.nvidia.com/blog/2020/06/26/arterys-marketplace-nvidia-clara-ai/

The Artery’s link with Nvidia Healthcare is extremely promising and shows that IB are really working with the big players in AI Healthcare.

We know that the Arteys Neuro AI platform is powered by imaging biometrics.

I went to this link to trial the software, and interestingly if you click the top left “Study” it clearly shows the IB Model being used.

It also lists the manufacturer as GE Medical Systems.

This may all be test data, but would be interested to hear from someone close to healthcare how GE Medical Systems link up here.

Are they tools to acquire the images which are then processed by AI in the cloud?

Could there be a future partnership with GE on the cards here?

Link:

https://marketplace.arterys.com/clinicalApp/neuroapp

Click Try in Browser and then “Study”

Happy to hear some thoughts...

Well that has been an interesting day with the share price hitting above 12p and maintaining above 10p for the close.

Well done to the traders who took profit as needed and more so to those who held.

I maintain my position that this share was grossly oversold from previous highs (and dare I say it) purposely dropped to allow people to take their stakes at 8p and below.

I have no doubt we will continue to see the games and volatility in the share price in the near term, but for people who bought in today, don’t panic on a drop and simply ride it out.

The long term potential gains here far outweigh the short term noise.

Gad Free Imaging

Another disruptive technology under development by the Company is the ability to generate a contrast-free MRl image that is equivalent to one acquired with contrast. AI networks have been created and are being trained using only anatomical and functional images free of any exogenous contrast material. The ability to completely eliminate the administration of contrast material has significant benefits on multiple levels. Along with substantial financial savings that can be realised, the on-going concerns about the long-term effects of gadolinium deposition throughout the body can be avoided.

Telehealth

Since the inception of IQ-AI's subsidiary, Imaging Biometrics™, LLC ("IB, the foundational architectural design strategy of the products has been to build them as platform independent plugins. Steadfast in this approach, IB has successfully translated advanced technologies into portable clinical solutions that readily extend the base functionality of established workstations, medical viewing stations, PACS, and servers. A logical application of the platform-independent design of IB's products is in telehealth. With the onset of Covid-19, healthcare providers had to find new ways to stay connected with patients and administer care. The field of telehealth is exploding and is, for all intents and purposes, and untapped market. During the review period, three licenses of IB Neuro were deployed specifically in teleradiology application. While IB's current products readily lend themselves as natural value-add extensions to established teleradiology platforms, the Company is exploring more direct applications and platforms in the rapidly emerging telehealth space.

Distribution / Partnerships

Eureka Clinical AI, QMENTA, Blackford Analysis, Medimsight, CorTechs Labs, Arterys, aycan Medical Systems, Pixmeo

Grants

IB received a five-year, $2.57 million, NIH grant award in collaboration with The Barrow Neurological Institute (BNI), the Mayo Clinic in Arizona, and the Medical College of Wisconsin (MCW).

This award follows the previously announced five-year, $2.8 million award IB received in late 2019. Together, these grants provide long-term funding to execute the respective goals and, at current staffing levels, subsidise over 60% of IB's development costs. Additional grants have been submitted to the NIH.

All of their products are targeted at $bn markets...

...so taking into consideration all of the above...it’s hard not to believe that the share price will be multiples of where it is today.

Let’s recap why the SP is completely undervalued.

The company has the following products:

On the market:

IB Clinic 2.0 - FDA, CE Approved

IB Clinic consists of perfusion weighted imaging and permeability computation modules IB Neuro and IB DCE, diffusion weighted imaging analysis module IB Diffusion, image co-registration and manipulation module IB Delta Suite, and IB Rad Tech, which streamlines and automates customizable workflows.

StoneChecker 2.0 - Approved for US, Europe and South Korea

Recently upgraded based on potential client feedback and AI workflows to be included in the next upgrade early this year.

Liver Surface Nodularity (LSN) Software - FDA and CE approved

LSN's proprietary algorithms process CT images of a patient's liver to assess the nodules along the liver surface. This virtual biopsy offers a low cost, low-risk, non-invasive alternative that may aid in the staging of CLD and has the potential to become the standard of care for a significant global market.

IB Stroke - FDA and CE approved

A key differentiator for IB Stroke resides in the core Imaging Biometrics' ("IB") algorithms that will be used to generate output commonly used for stroke assessment. Specifically, the ability to automatically quantify blood volume and other perfusion parameters is unique to IB. The initial launch of IB Stroke will be within an IB Rad Tech workflow, which is already installed at leading neurological centres.

In the pipeline:

IB CAD

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.

IB Trax - in partnership with the Mayo Clinic

This application will leverage the proven ability of quantitative Delta T1 maps, among other technologies, and focus on an improved workflow for evaluating both brain metastases and primary brain cancer across time. For almost a decade, IB's medical advisors and end-users of IB Neuro have considered that the manually intensive way currently used to longitudinally assess brain lesions is cumbersome and prone to error. IB Trax represents an efficient and streamlined platform that will address a significant and immediate need for routine clinical use.

Incase any investors missed this, I think 2021 will be the year IQAI capitalise on the sevens fold growth of the Telehealth market in the US.

Source: https://www.healtheuropa.eu/explosion-in-telehealth-market-due-to-covid-19/100127/

From the 2020 Half Year Report:

Teleradiology and Expanding Distribution

Since the inception of IQ-AI's subsidiary, Imaging Biometrics™, LLC ("IB, the foundational architectural design strategy of the products has been to build them as platform independent plugins. Steadfast in this approach, IB has successfully translated advanced technologies into portable clinical solutions that readily extend the base functionality of established workstations, medical viewing stations, PACS, and servers. A logical application of the platform-independent design of IB's products is in telehealth. With the onset of Covid-19, healthcare providers had to find new ways to stay connected with patients and administer care. The field of telehealth is exploding and is, for all intents and purposes, and untapped market. During the review period, three licenses of IB Neuro were deployed specifically in teleradiology application. While IB's current products readily lend themselves as natural value-add extensions to established teleradiology platforms, the Company is exploring more direct applications and platforms in the rapidly emerging telehealth space.

Watch this space as this could lead to exponential growth for the company...

Great find Claire and looks like IB are licensing out their algorithm for inclusion in Neuro AI.

Another great revenue stream for the company.

Interesting they didn’t chose IB Stroke for inclusion....but then that would just be creating a monopoly :-)))

Yes I do believe they have a strong portfolio and now need the sales to come to fruition.

Interesting that I was reading an article that Amazon are moving into the healthcare space (pharmacy and AI Health), so IB need to pick up pace and cement their position. I think they are extremely well positioned to do this with the extremely strong foundation they built in 2020.