Echo IQ signs $20M Pro Medicus deal

• Echo IQ has executed a binding agreement with Pro Medicus for a strategic investment and United States commercial partnership.
• The transaction involves an investment of up to $20 million alongside a proposed reselling arrangement for the EchoSolv software suite.
• The company stated that the partnership is expected to accelerate commercialisation initiatives and provide funding flexibility for international growth.

Echo IQ (ASX:EIQ) has executed a binding agreement for a proposed strategic investment of up to $20 million and a commercial partnership with Pro Medicus (ASX:PME).

The arrangement establishes a framework for commercial expansion as the company prepares its regulatory submissions for international markets.

Under the agreement, Pro Medicus will provide an initial $10 million investment followed by an option for an additional $10 million tranche.

The secondary tranche remains subject to Echo IQ receiving United States Food & Drug Administration clearance for its EchoSolv HF technology.

The company stated that the transaction is expected to fully fund its commercial activities and accelerate product adoption across the United States.

Following the announcement, the Echo IQ share price was unchanged at $0.15.

Echo IQ develops artificial intelligence solutions for cardiovascular diagnostics, while Pro Medicus provides enterprise health imaging software through its Visage platform.