Imricor Medical Systems (ASX:IMR) announced a licensing agreement with Swiss company ADIS for the commercialisation of its NorthStar AI modules.
The agreement outlines the terms for licensing the modules, which are designed for integration with Imricor's NorthStar 3D mapping system.
The NorthStar AI modules are currently undergoing regulatory processes with a commercial launch planned across Europe, the USA, and the Middle East by 2025.
Under the agreement, Imricor will share revenue from the software licenses with ADIS, paving the way for potential expansions beyond cardiac ablations to fields such as oncology and neurology.
The initial AI module aims to provide automatic heart segmentation capabilities, expected to drastically reduce the time taken for iCMR procedures.
The automation will create 3D anatomical models from MRI images, shifting a manual task that takes minutes to a process completed in seconds.
"We have been working with the highly talented people at ADIS for several years," stated Steve Wedan, Chair and CEO of Imricor.
"With today's agreement, we have taken the next step with ADIS to solidify the commercial terms around which we will deliver these capabilities," Wedan added.
The license agreement is a strategic move for Imricor as it continues to develop its MRI-compatible product line, with the goal of making NorthStar vital to any customer's iCMR program.