Santa Monica, CA, Nov. 13, 2018 (GLOBE NEWSWIRE) — BioSig Technologies, Inc. (NASDAQ: BSGM), a medical device company developing a proprietary biomedical signal processing platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, today announced that the Company entered into a new advanced research agreement with Mayo Clinic in Rochester, Minnesota.
The new program will be run under the leadership of Samuel J. Asirvatham, M.D., Mayo Clinic’s Vice-Chair of Innovation and Medical Director, Electrophysiology Laboratory. The program will consist of a number of two-to three-year projects, which will focus on development of additional advanced features of PURE EP(tm) System within the field of electrophysiology and potential clinical applications of BioSig’s technology in a new, previously unexplored, field.
“We are very pleased to continue our collaboration with Dr. Asirvatham and the outstanding team at Mayo Clinic. Our pre-clinical studies have shown the strong potential of PURE EP(tm) System to improve clarity of cardiac signals during the ablation procedures and related studies. We are confident that enhanced product development of our PURE EP(tm) System and testing of its advanced features at the number one hospital in the nation will lead to increased value proposition of our technology. We are fully committed to deliver outstanding value to our shareholders and our future clients,” commented Kenneth L. Londoner, Chairman and CEO of BioSig Technologies, Inc.
BioSig received FDA 510(k) clearance for its first product, PURE EP(tm) System on August 8, 2018. The Company began trading on the Nasdaq Capital Market on September 21, 2018 under the ticker symbol BSGM. The Company completed twelve pre-clinical studies at Mayo Clinic to date and has signed a 10-year collaboration agreement with the Clinic in March 2017.
About BioSig Technologies
BioSig Technologies is a medical technology company developing a proprietary biomedical signal processing platform designed to improve the electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Los Angeles-based BioSig Technologies is preparing to commercialize its PURE EP™ System. The technology has been developed to address an unmet need in a large and growing market.
The Company’s first product, PURE EP™ System, is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision- making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and potentially deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia. BioSig has partnered with Minnetronix on technology development and has received FDA 510(k) clearance for the PURE EP™ System in August 2018.
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to market our products and product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.