Echo IQ Raises AU$17.3 million to Accelerate US Commercialisation and FDA Pathway for EchoSolv

Echo IQ Limited (ASX: EIQ) has secured firm commitments to raise AU$ 17.3 million through a strongly supported placement to institutional and sophisticated investors at AU$ 0.30 per share. The capital raise, including participation from directors and new and existing shareholders, reflects growing market confidence in the company’s AI-driven cardiac diagnostics platform and US commercial strategy.

Funds raised will be directed towards the commercialization of EchoSolv AS and EchoSolv HF in the United States, with AU$ 8.5 million allocated to support integration with major hospital groups and strategic partners and ongoing licensing discussions with global medical device and pharmaceutical companies. An additional AU$ 2.6 million will support continued product development, while AU$ 2 million is earmarked for the FDA application of EchoSolv HF, anticipated in Q4 CY2025. The remaining AU$4.2 million will go towards general working capital and offer costs. With this placement, Echo IQ is fully funded to execute its next growth phase, building on recent milestones, including FDA clearance of EchoSolv AS, deployment at Beth Israel Deaconess Medical Center, and a clinical validation study with the Mayo Clinic Platform.

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