EchoIQ Limited (AU:EIQ) has released an update.
Echo IQ Limited has successfully secured $7.1 million through a placement at $0.15 per share, backed by institutional investors, to enhance the commercialization and development of their AI-driven cardiology solutions, including progressing through the FDA approval process. The funds will be allocated to various key activities, with the majority earmarked for commercialization efforts. The placement reflects the company’s growth phase, leveraging recent clinical successes to further engage with potential sector partners and regulatory bodies.
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