IQ-AI Limited New Patent Application and Trading Update

RNS Number : 8681K

IQ-AI Limited

05 November 2024

 

November 5, 2024

IQ-AI Ltd

("IQ-AI" or the "Company")

 

New Patent Application, Trading Update and

Commencement of discussions with potential phase 2 partners

 

IQ-AI (LSE: IQAI) Imaging Biometrics ("IB") has filed a provisional patent application with the United States Patent and Trademark Office ("USPTO") "Gallium Maltolate (GaM) as a Cancer Treatment Agent and Method". Provisional patents are routinely used to secure an early filing date while an invention is being developed and refined. 

The Company is also pleased to report that the growth in IQ-AI's revenues, first reported at the time of our Interim Report in August, has continued. The Board now expects that total revenue for the current year will thus be between U$900,000 and U$1million. This expected material year-on-year sales increase (up from U$760,000 in 2023), has primarily been driven by sales of our software solutions.

As we have previously advised, the phase 1 clinical trial is nearing its conclusion. We have now commenced discussions with potential partners to provide funding for a phase 2 trial.

"We are extremely pleased with the revenue performance this year," said Trevor Brown, CEO of IQ-AI. "and we remain hopeful that revenue will continue to build as software innovations come on stream. Regarding IB003, the planning for a phase 2 trial will move to the centre of our attention which includes discussions with potential funding partners."

--ENDS-

 

The Directors of the Company accept responsibility for the contents of this announcement.

 

For further information, please contact:

 

IQ-AI Ltd Trevor Brown/Vinod Kaushal/Brett Skelly/Michael Schmainda Tel: [phone]

Peterhouse Capital Limited (Financial Adviser and Broker) Tel: [phone]

About Imaging Biometrics® LLC:  IB is a wholly owned subsidiary of IQ-AI Limited, (LON: IQAI), and focuses on delivering quantitative imaging platforms and therapeutics that transform how clinicians diagnose and treat patients more efficiently and effectively. For more information about Imaging Biometrics, visit the company's website at www.imagingbiometrics.com. Follow IB on Twitter, @IQAI_IB.  

 

 

 

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