Business
Collaboration with Future Processing
Collaboration with Future Processing.
About this update from Feedback Plc
[{"type":"text","content":"\n \nRNS Number : 5501F Feedback PLC 28 July 2016 \n\n28 July 2016\n \nFeedback plc\n(\"Feedback\" or the \"Company\")\nCollaboration with Future Processing\n \nFeedback plc (AIM: FDBK), the medical imaging software company is pleased to announce a large-scale collaboration with Future Processing Sp. z o.o. (\"Future Processing\"), a software development service provider based in Gliwice, Poland to develop medical imaging software. The collaboration will entail a substantially increased development team working on new products and the sharing of intellectual property and future revenues. This collaboration has resulted from Feedback's assistance with a successful EU grant application made by Future Processing.\nIn September 2015, Mike Hayball, CEO of Cambridge Computed Imaging Limited, a wholly owned subsidiary of Feedback, (\"CCI\") and Executive Director of Feedback, and Dr Stephen Brown, COO of CCI, began assisting Future Processing with a grant application to develop an innovative quantitative imaging product. The grant application was subsequently successful and has led to a significant expansion of the Future Processing healthcare team. CCI has had a working relationship with Future Processing since 2005.\nThe directors of Feedback believe that by CCI working jointly with the Future Processing healthcare team, CCI's existing product portfolio can be improved and new products developed more rapidly including further applications for TexRAD. Although at this stage only a non-binding letter of intent has been agreed, the intention is for the Company to agree formal licences for new software products to be brought to market in 2017/18 under a shared revenue arrangement. In the current financial year, the Company will make substantial savings in software development costs and thereafter expects to benefit from its share of the revenue from sales of the new products.\n\"This is an exciting opportunity to expand the relationship with Future Processing to build a talented, dynamic team of medical imaging specialists.\" said Mike Hayball, CEO of CCI.\n\"We are excited about this joint project. Together with CCI we will develop medical imaging software and bring innovative solutions to the healthcare sector.\" said Jarosław Czaja, CEO of Future Processing.\nFor further information, contact:\n\n\n\n\nFeedback pl...