Imaging Biometics, IQ-AI’s principal investment, recently received a strong endorsement from a leading pharmaceutical company, Bayer AG. The Company’s IB Clinic platform has been chosen to debut in the launch of Bayer’s entrance into artificial intelligence-enabled radiology applications. Bayer’s Calantic platform features only nine products from seven independent companies, which have agreed to partner with Bayer in what is arguably a bold move in the fast-growing radiology applications market. We believe inclusion in this small group speaks well to the technological strength in IB Clinic and the capacity of Imaging Biometrics to support customers. It is logical that Bayer would only risk its world class reputation with strong partners who can help win and retain customers.
We are steadfast in our interest in IQ-AI Ltd. and reiterate our Speculative Buy rating of IQAI.L with a target price of 6.50 GBp. Despite an uptick in new interest in the shares, the stock price has traded downward in sympathy with the broader U.S. equity market. This is unfortunate, in our view, given that worries about inflation that have weighed on investor sentiment apply only tangentially to IQ-AI and its channel partners. We believe hospitals and clinics making capital investments in efficiency-creating products are not likely to alter decisions based on the prospect of inflation rates.
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