4th Sep 2019 11:43
(Alliance News) - Medical devices firm IQ-AI Ltd said Wednesday its subsidiary Imaging Biometrics, in conjunction with the Medical College of Wisconsin, has received a five-year grant award worth USD2.8 million from the National Institutes of Health.
Imaging Biometrics will use the funding to help with the transition of new, scientifically validated algorithms to its software, that will help to provide new clinical insight on advanced brain tumour treatment.
"Our grant and contract development work are important stimuli at Imaging Biometrics. This grant will provide income for the company for the next 5 years, as well as, further catalyse the development of our quantitative imaging tools, enabling us to apply the result of this collaboration with MCW to our commercial products," said David Smith, chief executive officer of Imaging Biometrics.
Shares in IQ-AI were up 1.7% at 5.91 pence on Wednesday in London.
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