Santa Monica, CA, Dec. 21, 2017 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: 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 has officially issued a letter to its shareholders providing them with updates on recent operational developments, industry trends, and strategic business prospects.
Recent Company Highlights
- Solidified a 10-year collaboration deal with Mayo Clinic
- Completed a 2-year product assessment study with Health Research International, which has shown strong interest in evaluating PURE EP(tm) System and the ongoing need for innovation in the field of cardiac rhythm management
- Expanded shareholder base to 22 countries, including Switzerland, UK, Ireland, France, Spain, Israel, Qatar, UAE (Abu Dhabi/Dubai), Iceland, and others
- Appointed a number of strategic hires ahead of FDA 510(k) submission and targeted commercialization
- Signed a partnership agreement with one of the top IP strategy firms – Sherpa Technology Group
- Added Andrew Filler to the Board of Directors, who brings over 20 years of experience in intellectual property for technology and medical device companies
- Raised $ 5.5 million in equity at a premium-to-market.
“With so much positive news and industry activity, Management felt it was an ideal time to directly communicate with our loyal shareholder base,” stated Mr. Kenneth Londoner, Founder, Chairman and CEO of BioSig Technologies. “We believe that we have made significant strides to our company, both from a technological standpoint and through the addition of human capital. Additionally, BioSig has significantly improved its financial standing while bolstering strategic industry relationships. We remain confident in the capabilities of our innovative PURE EP™ System and our ability to successfully commercialize it within the multi-billion-dollar global electrophysiology market. We believe that our recent accomplishments will allow us to begin targeted commercialization and uplist to a more senior exchange in the near future, as we remain focused on our primary goal of enhancing shareholder value.”
To view BioSig Technologies’ Shareholder Letter please visit: link to Shareholder Letter
About BioSig Technologies
BioSig Technologies is a medical device company developing a proprietary biomedical signal processing technology designed to improve the $4.6 billion 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(TM) System. The technology has been developed to address an unmet need in a large and growing market.
The Company’s first product, PURE EP(TM) 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. BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance for the PURE EP™ System.
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 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.