28 July 2017
Feedback plc
("Feedback" or the "Company")
Exclusive distributor agreement with Boya Digital Technology (Beijing) Co. Ltd
Feedback is pleased to announce that its subsidiary, Cambridge Computed Imaging Ltd ("CCI"), has signed an exclusive distributor agreement (the "Agreement") with Boya Digital Technology (Beijing) Co. Ltd. ("Boya"), based in Beijing, China, for sales and distribution of its TexRAD® texture analysis research software in the People's Republic of China ("PRC"). Boya is an approved vendor to GE Healthcare China, Beijing ("GE") and is facilitating the purchase and installation process of TexRAD research software on behalf of GE in the PRC.
TexRAD will be used by customers for research purposes, performing advanced analysis of routinely acquired medical diagnostic images (e.g. CT, MRI). As in western countries, university hospitals and research institutions in China are increasingly using innovative software such as TexRAD to generate new knowledge and insights in the fight against cancer and other diseases. The Agreement ensures user access and customer support for TexRAD within the rapidly growing market for medical research in the PRC.
Feedback regards the completion of this Agreement as a significant step in the continuing development of its global sales and market presence as outlined in recent investor presentations.
Dr Balaji Ganeshan, CEO of TexRAD Ltd and Director of New Business at Feedback Plc, said: "we are delighted to have formalised the business relationship with both Boya and GE. This follows discussions at the Beijing Society of Radiology in 2016 and involvement in the installation of TexRAD software in a leading medical institution, Peking Union Medical College Hospital, Beijing. I look forward to working with Boya and GE to develop awareness of the capabilities of TexRAD and sales to the medical research community in China".
Ian McLellan, Commercial Director CCI Ltd, commented: "the signing of this Agreement with Boya represents an excellent basis on which to develop our sales and presence in this exciting growth market using the expertise and customer reach of Boya Digital Technologies. We look forward to developing the TexRAD revenue potential and increasing the market reach to our users."
Ni Xiaowei, President of Boya Digital Technologies, stated: "we are pleased with the addition of TexRAD to our software portfolio, and look forward to working with CCI to promote this texture analysis software to research institutes in leading hospitals within the People's Republic of China. I anticipate a very successful business relationship, working closely with Dr Balaji Ganeshan and CCI. Boya Digital Technologies has developed a strong reputation for IT sales and support with our customers which we can offer to support the development of TexRAD sales in China."
For further information, please contact:
Feedback plc
Alastair Riddell |
Tel: 01954 718072 |
Allenby Capital Limited (Nominated Adviser and Joint Broker)
David Worlidge / James Thomas |
Tel: 020 3328 5656 |
Northland Capital Partners Ltd (Joint Broker)
Patrick Claridge / Margarita Mitropoulou |
Tel: 020 3861 6625 |
Peterhouse Corporate Finance Ltd (Joint Broker)
Lucy Williams / Duncan Vasey |
Tel: 020 7469 0936 |
About CCI
CCI Ltd is owned by AIM listed Feedback Plc (FDBK), based in Bourn, Cambridge UK. CCI focusses on the development and supply of advanced software including TexRAD, for texture analysis of medical images and storage and interpretation of imaging data.
About Boya
Boya Digital Technologies, founded in 2004 is based in Beijing, China and has been a manufacturer and supplier of computers, peripherals and software for over 10 years. It is a re-seller and vendor to a number of companies in China. Boya is part of the larger corporate organization, Boya Software Co Ltd, which aims to create value for its customers through technology and services.
About TexRAD
TexRAD is a highly advanced, patented image texture analysis software tool that analyses the textures in routinely acquired diagnostic medical images (e.g. CT, MRI) to reveal features that are not always evident to the human eye. The platform also comprises a novel data-mining tool to assist the research customer to undertake statistical analysis to identify interesting parameters demonstrating association with patient outcome and clinical parameters. A number of research studies published in numerous peer-reviewed journals and conference presentations show that TexRAD texture metrics may have the potential to predict prognosis, disease severity and treatment prediction/evaluation in a number of cancer applications. TexRAD is manufactured under licence by the ISO 13485 certified company Cambridge Computed Imaging Ltd, a subsidiary of Feedback plc.
