27th Sep 2019 10:26
(Alliance News) - Shares rose in IQ-AI Ltd on Friday as subsidiary Imaging Biometrics received word the US Food & Drug Administration has cleared its StoneChecker software for marketing in the US.
Shares in the medical software services provider were 50% higher at 7.07 pence on Friday in London.
StoneChecker is a medical software designed to aid clinical decision making by providing information about a patient's kidney stone.
In May 2018, IQ-AI first submitted an application for StoneChecker to the FDA for testing, but the process was delayed by requests for further information in October and the US government shutdown in February 2019.
"We are delighted that after an exhaustive review of the product, the FDA has cleared the product for marketing in the US," said Chief Executive David Smith.
By Dayo Laniyan; [email protected]
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