Expansion of European customer base

RNS Number : 6860E

Feedback PLC

22 October 2018

 

Feedback plc

Feedback expands its European customer base with new orders for TexRAD^® from prestigious European university hospitals 

Cambridge, 22 October 2018: Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist medical imaging technology company, announces that its operating company, Feedback Medical Ltd, has received a number of new significant orders for TexRAD^®, its patented image texture analysis technology, from prestigious university hospitals across Europe.

The orders have come from: Universitair Ziekenhuis Gent, Belgium; Beaujon Hospital, University Hospital Clichy, Service d'Imagerie médicale, France; ICNAS Producao Unip. Lda (Coimbra), Portugal; University of Cagliari - Department of Diagnostic Imaging and Radiology, Italy. This collection of orders represents the first for TexRAD^® in Belgium and Portugal. 

The initial areas of research range from Crohn's disease, aneurysms and carotid imaging, to liver cancer on routinely acquired standard computed tomography (CT) and magnetic resonance (MR) images. These research projects will run alongside other projects in the area of oncology, which is the main focus area for the Company.

The orders have arisen from an increase in business development activities during the year. These include scientific presentations and peer group referrals from previous purchasers of TexRAD^®.

TexRAD^® is now used across Europe and the Company is looking to expand its existing customer bases in the US and Asia. As outlined in the recent trading update, the Company has initiated plans for regulatory approval of TexRAD with the US FDA including 510k as medical device and CFR Chapter 21 part 11 compliance for use in clinical trials of drug candidates for FDA marketing approval.

Dr Balaji Ganeshan, Global Business Development Director of Feedback Medical Ltd, said:

"These recent orders of TexRAD^® are further validation of Feedback Medical and our technology. We are taking advantage of our growing reputation to drive new business. These new business wins have resulted from having referrals from current customers and penetrating new country markets. TexRAD^® is now being used in a diverse range of research fields which demonstrates the significant potential and applicability of our technology."

- ENDS -

For further information, please contact:

Feedback plc Alastair Riddell, Executive Chairman Lindsay Melvin, CFO	[phone] [e-mail]
Instinctif Partners Rozi Morris/ Deborah Bell/ Phillip Marriage	[phone] [e-mail]

Notes to editors

About Feedback plc

Feedback plc (AIM: FDBK) is a specialist medical imaging technology company providing innovative software and systems, through its fully-owned trading subsidiary, Feedback Medical Limited. Its products advance the work of radiologists, clinicians and medical researchers by improving workflows and giving unique insights into diseases, particularly cancer. Feedback Medical works with customers globally from headquarters in the internationally renowned scientific hub of Cambridge, UK. Its proprietary technologies are TexRAD^®, the quantitative texture analysis tool and Cadran, a picture archiving communication system (PACS). For more information, see www.fbk.com

About TexRAD^® quantitative texture analysis

TexRAD^® is a patent-protected software tool which extracts and quantifies texture features in radiological images, assisting research into all tumour types. In the exciting new field of radiomics, TexRAD^® uncovers biomarkers in medical images which are invisible to the naked eye. TexRAD^® has featured in over 100 academic publications, won numerous awards and is currently used in over 50 prestigious institutions worldwide. Feedback Medical recently launched TexRAD^® Lung, a software tool for the analysis of lung cancer, which is CE marked for clinical use in the EU.

 

END

 

 

NRAFMMZGGMFGRZZ