REG - IQ-AI Limited - Orphan Drug Status to GaM and Total Voting Rights

IQ-AIAnnouncement

09/10/2023 07:15

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RNS Number : 0526P  IQ-AI Limited  09 October 2023

IQ-AI Ltd

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

IQ-AI Announces Orphan Drug Designation Status

FDA grants orphan status to Gallium Maltolate for treating ATRT

Total Voting Rights

 

Imaging Biometrics, LLC (IB), a wholly owned subsidiary of IQ-AI Ltd (LSE:
IQAI), today announces the U.S. Food and Drug Administration (US FDA) has
granted Orphan Drug Designation (ODD) for gallium maltolate (GaM) for the
treatment of atypical teratoid rhabdoid tumour (ATRT). Currently the prognosis
for patients with ATRT is dismal due to the lack of effective treatments.

This decision by the FDA is the second orphan designation granted to GaM this
year.

"This additional orphan drug determination by the FDA is another regulatory
milestone towards providing an effective, well-tolerated treatment alternative
for patients with limited options, and we look forward to sharing additional
information on our clinical data as the phase 1 nears completion," said Trevor
Brown, CEO of IQ-AI.

Further to the announcement made on 18 August 2023, IQAI has cancelled the
396,241 ordinary shares issued to the Mayo Clinic. Following this
cancellation, the issued share capital is now 182,225,149 ordinary shares.

The above figure of 182,225,149 may be used by shareholders in the Company as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and Transparency
Rules.

 

--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)

 Lucy Williams/Heena Karani

 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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