IQ-AI shares surges as liver nodule software gets green light in Europe
The CE marking confirms that LSN, which is made by IQ-AI subsidiary Imaging Biometrics, meets the essential requirements of the European Medical Devices Directive.
This follows 510(k) market clearance from the US Food and Drug Administration (FDA) earlier in the month.
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Imaging Biometrics is now permitted to market and sell the software to the world’s two most prominent healthcare markets, IQ-AI said.
The proprietary algorithms in LSN process images from a CT scan of a patient’s liver to assess the nodules along the organ’s surface.
“This virtual biopsy offers a low cost, low-risk, non-invasive alternative that may aid in the staging of CLD and has the potential to become the standard of care for a significant global market,” the London-listed company said.
Shares in IQ-AI jumped over 40% to a high of 16.88p on Monday afternoon.