Echo IQ (ASX:EIQ) shares jump on new clinical study agreement

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Echo IQ (ASX:EIQ) shares jump on new clinical study agreement

 Echo IQ (ASX:EIQ) shares jump on new clinical study agreement
Image source: © Ipopba | Megapixl.com

Highlights

  • Echo IQ has collaborated with a world-class teaching hospital of Harvard Medical School to conduct clinical research on its technology.
  • The study will assess the artificial intelligence (AI) algorithm of Echo IQ in aortic stenosis.
  • Echo IQ is leveraging AI to assist in improved diagnosis of aortic stenosis and other types of structural heart diseases.

Echo IQ (ASX:EIQ) has taken a vital step towards commercialising its solutions in the US market. The company has joined hands with a world-class teaching hospital of Harvard Medical School, Beth Israel Deaconess Medical Center (BIDMC), on clinical research of its technology.

Echo IQ is steered by the mission to reduce the number of patients currently being lost for lifesaving and extending treatments. The company utilises technology backed by Artificial Intelligence (AI) to improve structural heart disease diagnosis.

Shares jump over 3%

Echo IQ has a market capitalisation of AU$64.45 million. At the time of writing this article, shares of the company were trading at AU$0.155, indicating a gain of 3.33% from the last close.

In the last six-month period, the shares have gained more than 29%.   

AI in heart disease

The study will assess the artificial intelligence algorithm of Echo IQ in identifying people with severe aortic stenosis and the corresponding risk of death linked with an aortic stenosis phenotype in a North American cohort. It adds to the company's previous studies and is likely to enhance an already extensive body of research in this important space.

The retrospective clinical cohort and outcomes study will be led by Assistant Professor of Medicine at Harvard Medical School, Jordan B. Strom.

Aortic stenosis

Diagnosis of Aortic stenosis

Image source: © Mdshidlovski  | Megapixl.com

Aortic stenosis is the most common type of heart valve disease in high-income countries. Further, the latest valuations from Australia and the UK suggest that this occurrence will grow in line with the continuing aging of the population.

Echo IQ is leveraging AI to assist in improved diagnosis of this condition and other types of structural heart disease.

Commenting on the collaboration, Echo IQ Chief Medical Advisor Professor David Playford said, "Applying AI-backed algorithms to structural heart disease has the potential to unlock faster, more actionable diagnosis of conditions that are increasingly treatable."

Andrew Grover, Executive Chair of Echo IQ, highlighted the collaboration as a major milestone. The partnership with a teaching hospital of this calibre and status is testimony to the significance of the work the company is undertaking, Grover added.

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