REG - IQ-AI Limited - New Patent Application and Trading Update

IQ-AIAnnouncement

05/11/2024 07:00

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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: 020 7469 0930
 Peterhouse Capital Limited (Financial Adviser and Broker)

 Tel: 020 7220 9797

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
(http://www.imagingbiometrics.com/) . Follow IB on Twitter, @IQAI_IB.

 

 

 

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