8th Oct 2015 07:41
LONDON (Alliance News) - Medical imaging software developer Feedback PLC on Thursday said it has decided to shift its strategy in light of recent joint ventures it has signed and will no longer be focusing on securing approval from the US Food and Drug Administration for its TexRAD texture analysis product.
Feedback said it has recently signed two joint ventures whereby the TexRAD software will be incorporated into developing new products designed to assess and manage patients suffering from prostate cancer and kidney stones.
The company said it now sees significant commercial opportunities for TexRAD to be used in combination with other imaging biomarkers and said it expects these products will be more effectively marketable to clinicians compared to a general software product.
In addition, the company is considering plans to prioritise CE marking, the EU product certification standard, in order to accelerate its commercial plans in the European market.
As a result of the changes, the company will no longer prioritise securing FDA approval of the use of TexRAD as a standalone product.
It also will no longer be pursuing the sale of a research version of TexRAD to a broad market and will restrict further sales of the research versions to a limited customer base.
Feedback shares were up 2.7% to 3.08 pence early Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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