Feedback PLC Strategy Update (5703B)
08 Oktober 2015 - 8:00AM
UK Regulatory
TIDMFDBK
RNS Number : 5703B
Feedback PLC
08 October 2015
Feedback plc
("Feedback" or the "Company")
Strategy Update
Feedback plc (AIM: FDBK), the medical imaging software company,
is pleased to announce an update on its corporate strategy.
Feedback has recently announced two joint ventures where its TexRAD
texture analysis software is to be incorporated into developing new
products designed specifically for the assessment and management of
patients with prostate cancer and kidney stones.
In the light of these exciting developments the Board has
re-evaluated the Company's strategy for seeking FDA approval for
TexRAD as a stand-alone software application.
In the Company's Admission document and in previous results
announcements the Company indicated it was preparing to make a
510(k) submission for TexRAD to be used as an analytical tool for
measuring texture in CT scans. The Company now recognises that
there are significant commercial opportunities available to
Feedback if TexRAD is used in conjunction with other imaging
biomarkers to create integrated products for specific clinical
applications. The Board expects these types of products to be
marketed much more effectively to clinicians compared with a
general software application. As part of the updated strategy the
Company is also considering prioritising CE marking in order to
accelerate development of commercial products for the European
markets.
As a consequence of this new focus, FDA approval for TexRAD is
no longer regarded as one of the Company's principal corporate
objectives.
Feedback has sold research versions of TexRAD software to many
of the world's leading oncology research centres. In conjunction
with this, pioneering research is being undertaken in these centres
to evaluate how texture analysis can be introduced into radiology
workflow to assist clinicians in the assessment and patient
management of various different types of cancer. Feedback is now at
the stage where the publication of research findings is likely to
have a significant effect on determining where the Company should
be concentrating its efforts.
As a result of the changes highlighted above the Company has
concluded that it no longer has a compelling strategic need to
continue the sale of research versions of TexRAD to a broad market
and intends to restrict further sales of the research versions of
TexRAD to a limited number of new customers.
The Company's future strategy is expected to involve the
formation of more joint ventures and collaborations where
Feedback's valuable intellectual property can be combined with the
specialist skills and intellectual property of other companies and
research institutions. By adopting this approach the Company is
expected to generate licensing and royalty revenue streams and a
residual equity participation in these joint ventures.
The Company's audited results for the financial year ended 31
May 2015 are expected to be announced by 31 October 2015.
For further information contact:
Feedback plc Tel: 01954
718072
Simon Barrell / Trevor Brown
/ Tom Charlton
Sanlam Securities UK (Nominated Tel: 020 7628
Adviser and Joint Broker) 2200
Simon Clements / Virginia Bull
Peterhouse Corporate Finance Tel: 020
Ltd (Joint Broker) 7469 0936
Lucy Williams / Duncan Vasey
Notes to editors:
TexRAD (is a novel sophisticated imaging risk stratification
research tool that analyses the textures in existing radiological
scans. This research software application analyses textures,
detecting and measuring tumour heterogeneity (complexity) from
these images, revealing more information from medical images than
it is currently possible to see with the naked eye. Research to
date has shown that TexRAD could potentially assist the clinician
(as an 'Imaging Biomarker') in confident decision-making: assessing
the prognosis, disease severity (e.g. risk of metastases) and
response evaluation of patients with cancer. Currently TexRAD
research has shown great potential in many different oncological
sites, including, colorectal, breast, lung, prostate, oesophageal,
head & neck, lymphoma, liver and renal cancers and could
potentially be employed as a heterogeneity assessing tool in the
era of 'Precision and Personalized Medicine'.TexRAD is manufactured
under licence by the ISO 13485 certified company Cambridge Computed
Imaging Ltd, a subsidiary of Feedback plc. More information is
available on www.fbk.com and www.texrad.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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