Last checked at 6 Apr 2021 07:00
IQ-AI Ltd
("IQ-AI" or the "Company")
Five Year NCI Award Grant to IB
The Company's subsidiary, Imaging Biometrics, LLC (IB), has received another award from the US National Cancer Institute (NCI). Approximately $3 million in funding begins on 15 April and is in collaboration with Professor Kathleen Schmainda, PhD, the grant's Principal Investigator (PI) at the Medical College of Wisconsin (MCW). The award is the third NCI grant IB has received within a two year period. As a subawardee on the grant, IB will use the funds to accelerate the development and commercialisation of IB CAD™.
IB CAD combines multi-parameter magnetic resonance (MR) data and artificial intelligence (AI) technology to identify areas of infiltrating brain tumour cells in non-contrast enhancing regions. The current paradigm is to wait until the cells grow into a tumour large enough to be visualised on standard imaging and/or treat all areas in a similar way, which together may result in delayed or suboptimal treatment targeting. Thus, the Directors of IQ-AI believe that IB CAD's ability to "detect the undetectable" may offer early detection and, thereby, giving current treatment therapies a better chance of success. Moreover, the Directors consider that the technology has the potential to disrupt the way surgery is performed, how radiation treatments are planned, and how treatment therapy is assessed.
Trevor Brown, IQ-AI CEO commented "We continue to advance the field in brain tumour imaging and understanding. This grant underscores the scientific merits of the technology and helps pave the way towards commercialisation."
The Directors of the Company accept responsibility for the contents of this announcement.
-ENDS-
For further information, please contact:
IQ-AI Limited Trevor Brown/Vinod Kaushal/Qu Li/Michael Schmainda Tel: 020 7469 0930 |
Peterhouse Capital Limited (Financial Adviser and Broker) Lucy Williams/Heena Karani Tel: 020 7220 9797 |
ABOUT Imaging Biometrics™, LLC
Imaging Biometrics, a subsidiary of IQ-AI Limited (LON:IQAI), develops and provides visualisation and analytical solutions that enable clinicians to better diagnose and treat disease with greater confidence. Through close collaboration with top researchers and clinicians, sophisticated advancements are translated into platform-independent and automated software plug-ins which can extend the base functionality of workstations, imaging systems, PACS, or medical viewers. By design, IB's advanced visualisation software seamlessly integrates into routine workflows. For more information about Imaging Biometrics, visit the company's website at www.imagingbiometrics.com.