• Strategic collaboration with Mayo Clinic Platform for EchoSolv HF validation study
• $17.3m institutional placement to fund commercialisation and development
• Commenced trading on OTCQB Venture Market in the US

Echo IQ continued to deliver strong progress across its US commercialisation strategy and initiatives for EchoSolv HF during the quarter. Key highlights include securing a collaboration agreement with the Mayo Clinic Platform to undertake a validation study for EchoSolv HF, which is a critical milestone prior to FDA clearance. The company also commenced the validation study in collaboration with Mayo Validate. Echo IQ completed a $17.3m institutional placement, providing balance sheet strength to pursue ongoing deployment of EchoSolv AS in the US, EchoSolv HF regulatory approvals and commercialisation, as well as expansion of the technology suite. The company was also approved to trade on the OTCQB Venture Market in the US, providing enhanced visibility, liquidity and access to US capital markets. Other key developments include the commencement of a reseller agreement with SARC MedIQ to scale EchoSolv AS across 300+ healthcare sites in the US, and continued progress on the Category III CPT code application for EchoSolv AS.

The company expects to complete the Mayo Clinic validation study for EchoSolv HF, integrate EchoSolv AS via the SARC MedIQ agreement, and execute its FDA and CPT submission strategies during the current quarter and beyond.