Intelligent Ultrasound Group plc has signed its first long-term licence and co-development agreement for its AI software with an ultrasound equipment manufacturer.
The Group’s range of AI-based software aims to boost scanning quality and to streamline sonographer workflow in medical ultrasound specialties, such as anaesthesiology, obstetrics, gynaecology, radiology and primary care medicine.
The long-term agreement will enable the integration of Intelligent Ultrasound’s real-time image analysis software onto a range of specialty specific ultrasound systems marketed in the global healthcare market. Co-development work with the original equipment manufacturer (OEM) partner will commence immediately, with initial royalty per unit revenues expected during 2021 following regulatory approval. Terms of the agreement are confidential and undisclosed for commercial reasons.