IB Awarded $2.57m grant

RNS Number : 4190O

IQ-AI Limited

01 June 2020

 

IQ-AI Ltd

("IQ-AI" or the "Company")

Imaging Biometrics in Collaboration With Three Top Imaging Centers

Awarded $2.57m NIH Grant  

Imaging Biometrics™, LLC (IB), a subsidiary of IQ-AI Limited (LON:IQAI), in collaboration with the Barrow Neurological Institute (BNI), the Mayo Clinic (AZ), and the Medical College of Wisconsin (MCW), has received a $2.57 million, five-year grant award from the National Institutes of Health(NIH) - National Cancer Institute (NCI). Funding for this effort begins 1^st July with the primary purpose of optimising and validating multi-vendor quantitative perfusion tools for the prediction of brain tumor response to therapy on a patient-specific basis.

Principal Investigator, Chad Quarles, PhD, Professor and Chair of the Division of Neuroimaging Research at BNI (Phoenix, AZ), will lead this multi-institutional effort to provide brain tumor physicians with a novel MRI method that provides several different measures of tumor biology using just one MRI technique, called SAGE (spin and gradient echo [MRI]). The additional biological information will help doctors determine how best to combine therapies, and will complement IB's current methods of monitoring treatment response. This NIH-funded effort also includes a plan to harmonise the way SAGE data is collected and analysed across sites and MRI vendors. IB's experience in providing vendor-neutral and standardised software is key to this effort, and IB's participation in this effort will further expand its footprint as the recognised leader in brain cancer imaging and assessing treatment response.

Michael Schmainda, CEO of IB, added, "Since our inception in 2007, NIH grant funding has helped fuel our business by enabling us to accelerate the development and translation of novel imaging technologies into practical products. Not only does this grant provide a financial boost for IB, it further strengthens our relationships with recognized leaders in MR imaging."

The Directors of the Company accept responsibility for the contents of this announcement.

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For further information, please contact:

IQ-AI Limited Trevor Brown/Vinod Kaushal/Qu Li Tel: [phone]

Peterhouse Capital Limited (Financial Adviser and Broker) Lucy Williams/Heena Karani Tel: [phone]

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 .

 

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