Intelligent Ultrasound makes good progress with clinical AI development

Artificial intelligence software and simulation company Intelligent Ultrasound Group told shareholders on Thursday that the development of its two real-time image analysis software solutions - ‘ScanNav’ and ‘AnatomyGuide’ - from its clinical AI division was continuing to progress “well”.

The AIM-traded firm said it believed that they were gaining recognition by both prospective end-user clinicians and potential industry partners, as investors gathered for the annual general meeting.

Chairman Riccardo Pigliucci said the company was in negotiations to secure its first strategic collaboration agreement with a “major” ultrasound equipment manufacturer, with the board said to be “looking forward” to updating the market on that in due course.

To maintain its lead, he said Intelligent Ultrasound would need to continue to invest in its AI-based ultrasound image analysis research and development.

“Our simulation division sales for the four months to 30 April are in line with the same period last year, with significant increases in North America offset by reduced sales in the UK, which we believe are due to the impact that Brexit is having on UK healthcare budgets and spending,” Pigliucci said.

“With five weeks of the half-year remaining, we are encouraged by a healthy pipeline of potential orders which includes a number of high value opportunities that we expect to realise in the second quarter.

“Consequently, we continue to trade within expectations for the full year.”