Intelligent Ultrasound shares rocket on AI imaging agreement

Intelligent Ultrasound shares soared on Thursday after it signed its first long-term licence and co-development agreement for its ScanNav AI software with one of the world's leading ultrasound equipment manufacturers.

The company said that the long-term agreement will enable the integration of its real-time image analysis software onto a range of specific ultrasound systems marketed in the global healthcare market.

The full details of the agreement are confidential but the AIM-listed company said co-development work will begin immediately and royalty per unit revenues are expected during 2021.

Chief executive Stuart Gall said: "This is a milestone agreement for the group and we are delighted to have signed our first long-term agreement with one of the world's leading ultrasound companies. We believe that ScanNav is one of the world's first AI software products to provide real-time image analysis and guidance to sonographers during an ultrasound scan. We expect this to be the first of many agreements for our range of AI based image analysis software."

Intelligent Ultrasound's shares were up 76.85% at 11.94p at 0830 BST.