Echo IQ inks data licensing agreement with Advara HeartCare

• Echo IQ signed a definitive exclusive data licensing agreement with Advara HeartCare.
• The announcement saw the Echo IQ share price rise by 8.02%.
• The company aims to use the dataset to train and develop next-generation cardiovascular artificial intelligence products.

Echo IQ (ASX:EIQ) executed an exclusive agreement to license up to 1 million de-identified echocardiography studies from Advara HeartCare to expand its cardiovascular artificial intelligence platform.

The agreement gives the company access to one of Australia’s largest private cardiovascular imaging datasets, building upon its existing relationship with the National Echo Database Australia.

"While NEDA continues to provide a world-class platform for clinical validation and outcomes research, the Advara dataset brings something different and highly complementary, which centres around large-scale real-world imaging data that can be used to train, refine and develop future generations of cardiovascular AI products," said Echo IQ CEO Dustin Haines.

Under the three-year agreement, Advara HeartCare guarantees the delivery of at least 500,000 de-identified echocardiograms, with at least 70% of the licensed data required to meet agreed quality specifications.

Following the announcement, the Echo IQ share price was up at $0.14.

The company stated that large-scale imaging data is increasingly important as cardiovascular artificial intelligence moves towards broader multi-condition diagnostic and predictive platforms.

The transaction allows the business to retain full ownership of all artificial intelligence outputs generated from the licensed data under built-in intellectual property protections.