Letter of Intent signed and trading update

RNS Number : 9462A

Feedback PLC

30 March 2017

 

30 March 2017

Feedback plc

("Feedback", the "Group" or the "Company")

Letter of Intent signed with leading global medical imaging company and trading update

Feedback plc (AIM: FDBK), the medical imaging software company, is pleased to update shareholders on current developments. The Group's efforts are being concentrated on obtaining the CE mark for TexRAD Lung by the target date of May 2017. The CE mark will allow the sale of TexRAD Lung in the EU and certain other markets as a medical device which provides analysis of PET/CT images for clinical use. As part of the intended distribution arrangements, Feedback's subsidiary company, Cambridge Computed Imaging Ltd ("CCI"), has signed a Letter of Intent with a leading global medical imaging company which would make TexRAD Lung available for purchase on its diagnostic imaging solutions platform. This would, in due course, enable easy access to TexRAD Lung for hundreds of potential users around the world on a subscription basis.

CCI continues to pursue its ongoing discussions with other leading imaging companies to broaden the range of potential routes to market for clinical versions of TexRAD. CCI has also been very active in finalising arrangements for the secure transfer of patient data from Papworth Hospital NHS Foundation Trust to the new Cambridge Biomedical Campus ahead of the move there in April 2018. CCI has provided and maintained the software to store and display medical images at Papworth Hospital since 2001 and is excited at the challenge of transferring the extensive archive of medical images. 

New purchase orders for the well-established TexRAD research version are continuing at a good rate ahead of the impending release of the first clinical version with keen interest being shown in India, the US and the UK. There remain significant opportunities for TexRAD in China and South Korea and some additional professional and legal costs have been incurred regarding advice on new distribution and licensing agreements which could substantially increase future revenues. As previously indicated, TexRAD-related revenue in the second half of the Company's financial year is expected to be substantially ahead of that reported for the first half and the Company is on track to report increased revenue for the financial year as a whole.

For further information contact:

Feedback plc Alastair Riddell	Tel: [phone]
Allenby Capital Limited (Nominated Adviser and Joint Broker) David Worlidge / Virginia Bull/ James Thomas	Tel: [phone]
Northland Capital Partners Ltd (Joint Broker) Patrick Claridge / Margarita Mitropoulou	Tel: [phone]
Peterhouse Corporate Finance Ltd (Joint Broker) Lucy Williams / Duncan Vasey	Tel: [phone]

 

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