IQ-Ai PLC (LON:IQAI) has said it expects automation of its brain tumour mapping technology to drive sales over the coming year as the use of artificial intelligence (AI) and deep learning networks pave the way for widespread and rapid clinical adoption.
In a statement accompanying its 2019 results, the company said: “At the close of 2019, four leading brain tumor centers from major metropolitan areas continued to explore the adoption of our tools and, in early 2020, one of those centers purchased our neuro-oncology platform.
"Fully automating our brain tumor monitoring platform will enable healthcare facilities of all sizes to take advantage of our solution.”
The group’s "fractional tumor burden" (FTB) mapping process for low-grade tumors and metastatic cancers will also be an important area for development, it added, as will be work in areas other than neurology including prostate, breast and lung cancers.
“For instance, neuronavigation and radiotherapy companies are prime candidates for adopting advanced imaging tools to more accurately guide their planning and treatment platforms. Likewise, drug development companies could leverage our proven biomarkers to provide a more accurate indication of the effectiveness of their new agents.
“Improved accuracy for drug developments equates to shortened product development timelines and, ultimately, substantial benefits and savings,” the firm said.
IQ-Ai also noted that the sale of its Stonechecker software has been interrupted by the coronavirus outbreak, with the process to resume once normal conditions are back in place.
The company's losses for the year to December 31, 2019, were £639,000 (£764,000).