Feedback PLC Letter of Intent signed and trading update (9462A)

TIDMFDBK

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                                Tel: [phone] 
  Alastair Riddell 
 Allenby Capital Limited (Nominated          Tel: [phone] 
  Adviser and Joint Broker)                   5656 
  David Worlidge / Virginia Bull/ 
  James Thomas 
 Northland Capital Partners Ltd (Joint       Tel: [phone] 
  Broker)                                     6625 
  Patrick Claridge / Margarita Mitropoulou 
 Peterhouse Corporate Finance Ltd            Tel: [phone] 
  (Joint Broker)                              0936 
  Lucy Williams / Duncan Vasey 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFERVEIAFID

(END) Dow Jones Newswires

March 30, 2017 02:00 ET (06:00 GMT)