Flying Brands Ltd’s (LON:FBDU) shares jumped in early trading Thursday after its subsidiary Imaging Biometrics has secured an agreement with the University of Alabama (UAB) to develop a diagnostic tool that will help predict liver cirrhosis.
The healthcare technology firm said Imaging would work with UAB to develop a product to quantify liver surface nodularity (LSN), a biomarker derived from routine computed tomographic (CT) images, which allows prediction of cirrhosis decompensation and death.
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The aim of the agreement is to develop a software product that streamlines the process of cirrhosis prediction from CT images, with a plan to submit an application to the US Food and Drug Administration (FDA).
Imaging Biometrics' chief executive, David Smith, said the agreement had the potential to generate “significant revenues” for the firm.
Shares were up 4.7% at 2.2p.