First order for IQ-AI's kidney stone software rolls in

IQ-AI is pleased to announce the first commercial sale of its StoneChecker Software after its South Korean distributor received an order from a major hospital on the peninsular.

The StoneChecker software is intended to be used by hospitals, imaging and urology centres for diagnosing and assessing kidney stones on non-contrast CT scans in the clinical setting in South Korea.

The software uses statistical techniques to make analyses of kidney stones, producing a series of data to describe key clinical stone variables such as stone volume and measures of stone heterogeneity.

David Smith, chief operating officer of IQ-AI, said: "We are delighted to announce this significant commercial milestone for StoneChecker Software. The enthusiasm and commercial interest with which the product has been greeted upon its introduction to South Korea bodes well for the global market. We look forward to making further announcements as we expand distribution."

The London-listed company said that kidney stone disease is on the rise in the Far-Eastern nation and that it is estimated that the population of 51m people suffer approximately 0.3m new cases of the disease each year.

IQ-AI’s shares were up 6.93% at 2.70p at 1137 GMT.