Minneapolis, MN, March 30, 2017 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing the PURE EP(TM) System, a proprietary platform designed to address an unmet technology need for the $4 billion electrophysiology (EP) marketplace, today announced it will host five Lafayette College students as part of an immersive internship program.
Under the leadership of President Alison Byerly, Lafayette College has established the immersive internship program in conjunction with BioSig Founder, Kenneth L. Londoner. The mission of the new program, called InternShift, is to provide a learning experience that is more intensive than a typical internship, with students conducting high-impact project work that provides a significant return on investment for employers. Students are paid well for their contributions, partially lightening their student debt burden. Students also gain insight into industry that enable them to better plan for their careers or post graduate study.
Alison Byerly commented, “Making an executive investment in InternShift and a high-performing Lafayette student helps companies move special projects forward. Surveys find that our students, unlike students nationally, list a ‘creative and dynamic work environment’ as the most important attribute for their careers. This is the type of problem-solving intern and future employee that companies need.”
Ken Londoner added, “Our kids are our future. All companies would benefit from a reduction in student debt levels as future demand for goods and services improve when students have less debt and interest to service. We fully support the evolution of this program and strongly believe in its mission at BioSig Technologies. We look forward to our third year of hosting Lafayette’s bright future leaders.”
About BioSig Technologies
BioSig Technologies is a medical device company developing a proprietary technology platform designed to improve the $4 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System.
BioSig’s technology has been developed to address an unmet need in a large and growing market. The 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 deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia.
Data from the 2016 HRI Global Opportunities in Medical Devices & Diagnostics report shows the global Electrophysiology (EP) market revenues is expected to grow nearly 10% annually, from currently $4 billion to approximately $6 billion by 2020 with accompanying procedure growth close to 10% annually, from 865,000 patients in 2015 to 1,350,000 in 2020. Procedure growth in the United States alone is projected at an 11.0% annual rate, from 250,000 in 2015 to 422,000 in 2020; accompanied by an 11.7% growth in revenues, from $1.85 billion in 2015 to $3.220 billion in 2020.
BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance and CE Mark for the PURE EP System. The company has achieved proof of concept validation and tested its prototype at the University of California at Los Angeles (UCLA) Cardiac Arrhythmia Center, and has performed pre-clinical studies at Mayo Clinic in Minnesota and Mount Sinai Hospital in NY. The company continues to perform research and development studies in the form of an Advanced Research Program at Mayo Clinic which began in June 2016. Other prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute and UH Case Medical Center in Cleveland also play an important role in the PURE EP technology.
Forward-looking Statements
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 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 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 web site 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.