Feedback gets several major orders for 'TexRAD' technology
By Josh White
Date: Monday 22 Oct 2018
(Sharecast News) - Specialist medical imaging technology company Feedback announced on Monday that its operating company, Feedback Medical, has received "a number" of significant new orders for 'TexRAD', its patented image texture analysis technology, from university hospitals across Europe.
The AIM-traded firm said the orders came from Universitair Ziekenhuis Gent in Belgium; Beaujon Hospital, University Hospital Clichy, Service d'Imagerie médicale in France; ICNAS Producao Unip. Lda (Coimbra) in Portugal; and University of Cagliari - Department of Diagnostic Imaging and Radiology in Italy.
It said the collection of orders represented the first for TexRAD in Belgium and Portugal.
The initial areas of research ranged from Crohn's disease, aneurysms and carotid imaging, to liver cancer on routinely-acquired standard computed tomography (CT) and magnetic resonance (MR) images.
Feedback said the research projects would run alongside other projects in the area of oncology, which was the main focus area for the company.
The orders arose from an increase in business development activities during the year, the board explained, including scientific presentations and peer group referrals from previous purchasers of TexRAD.
TexRAD was now used across Europe, with the company saying it was looking to expand its existing customer bases in the US and Asia.
As it outlined in the recent trading update, it had 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.
"These recent orders of TexRAD are further validation of Feedback Medical and our technology," said Feedback Medical's global business development director Dr Balaji Ganeshan.
"We are taking advantage of our growing reputation to drive new business."
Dr Ganeshan said the new business wins had 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."
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