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IQ-AI Limited

IQ-AI becoming a leader in the field of medical imaging diagnostics

Snapshot

Here we take a closer look at the imaging and diagnostics firm IQ-AI

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Quick facts: IQ-AI Limited

Price: £0.06

Market: LSE
Market Cap: £8.39 m
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  • Two businesses, one vision 
  • Strong development pipeline 
  • Expects sales to double this year

IQ-AI Limited (LON:IQAI) is the company formerly known as Flying Brands. The name change reflected its aspiration of becoming a leader in the field of medical imaging diagnostics. It currently comprises two businesses - Stone Checker Software and Imaging Biometrics (IB).

StoneChecker

This is predictive diagnostic software product that helps urologists determine whether a kidney stone will disintegrate under a vibration process called lithotripsy. This capability becomes important in determining whether to subject patients to multiple rounds of lithotripsy or send them straight to surgery. Its products are now sold in the USA, UK, The Netherlands, Switzerland, Germany, Greece and South Korea.

Imaging Biometrics

IB provides advanced imaging software used by cancer hospitals and universities in the US such as the Mayo Clinic and Stanford University Medical Centre. One application is commercialising aids in the detection and staging of chronic liver disease, while another “leverages deep learning algorithms” for breast cancer screening.

Developments and new products

• In June, IB signed a non-exclusive business development and sales deal with brain analysis firm CorTechs Labs, which IQ-AI said would provide its products with “extended and immediate” sales representation in the US and other international markets
• Fee per click service to make IB's products more economically accessible and to promote immediate widespread distribution
• IB Server is an application that provides immediate access to the company’s clinically-validated processing algorithms
• Artificial intelligence is being used to enhance and automate software
• PC-based version of IB plugins so the software is available on Microsoft Windows platforms and not just Apple computers
• Gadolinium-free imaging. IB has a patent for an image processing technology that doesn’t use the possibly toxic rare earth

Interview

Outlook

On April 30 chief executive Trevor Brown told investors he expects sales to double year on year: “Our objectives for 2019 are to expand sales and continue to develop new products which utilise areas of our expertise where we believe we have scientific and technological leadership. As a result of product development and new users, sales have continued to accelerate in 2019.The future looks to be an exciting place for IQ-AI.”

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Watch

StoneChecker still on track for FDA clearance and commercial roll out of...

Nick Stevens, chief executive of StoneChecker, which is part of the Flying Brands group (LON:FDBU) tells Proactive's Andrew Scott that despite a small delay in the US FDA clearance process, they're still looking at a commercial roll out in Q4 this year. Once approved, the group aims to...

on 23/7/18

2 min read