BioSig Issues Shareholder Letter with Corporate Update on Recent Achievements and Anticipated Milestones for 2021
March 29 2021 - 9:15AM
- Company expands clinical footprint, installations and
commercial sales with leading hospitals
- Neurostimulation division to develop a novel sensing
and stimulation technology to optimize neurostimulation therapies
and develop novel solutions to diagnose and treat neurological
disorders; the Company licensed a first utility patent from the
Mayo Foundation for Medical Education and Research
- Launched artificial intelligence effort with leading
partners
- Balance sheet remains robust with $28.3 million in
cash, cash equivalent, and short-term investments, well-positioned
for 2021, based on current expectations
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”), a medical technology company commercializing a
proprietary biomedical signal processing platform designed to
improve signal fidelity and uncover the full range of ECG and
intra-cardiac signals, today announced that the Company had issued
a Letter to Shareholders providing highlights on the Company’s
recent developments and updates.
Recent Company highlights include:
- Updates on the commercial adoption of the PURE EP™ System,
including the first commercial sale of three units to St. David’s
HealthCare in Austin, TX, an HCA Healthcare-owned hospital.
- More than 643 patient cases have been conducted with the PURE
EP™ System by 40 physicians across eight clinical sites to
date.
- At least three more clinical sites are scheduled to commence
the evaluation in the coming months, including the New
York-Presbyterian/Weill Cornell Medical Center and the Michigan
Medicine–University Hospital that maintain two of the most
extensive electrophysiology programs in the country.
- The PURE EP™ System received favorable reviews during
leading industry conferences, including EPLive 2020 and the 26th
Annual International AF Symposium 2021. Complete recordings of the
presentations and articles authored by the physician users and
independent reviewers of the technology are available on the
Company’s website.
- The Company launched an initiative to develop and commercialize
novel AI- and machine learning-powered software solutions. The
program will be conducted under the leadership of Mayo Clinic and
Dr. Alexander Wissner-Gross, a leading AI scientist at M.I.T.
- The Company deployed innovative Vuzix M400 Smart Glasses for
remote servicing and training, allowing its customers uninterrupted
access to its technical team.
- The NeuroClear™ division is developing a novel nerve sensing
and stimulation technology to improve current treatments for
resistant hypertension and other nerve-related therapeutic
targets.
- The Company reports $28.3 million in cash as of December 31,
2020, positioning the Company well for commercial and operational
growth, based on the Company’s current expectations and
projections.
“We made some significant strides in 2020, which have laid the
foundation for a strong 2021,” stated Kenneth L. Londoner, Founder,
Chairman, and CEO of BioSig Technologies, Inc. “Commercial adoption
of the PURE EP™ System is gaining momentum, and we continue to add
new healthcare facilities and complete more patient cases.
Commercialization, innovation, and growth remain at the forefront
of our strategic priorities as we expand our clinic footprint and
strengthen our product positions and service offerings. We have a
strong balance sheet, we are progressing well with our
neurostimulation division, and are looking to the future of
next-generation AI- and machine learning-powered software for our
PURE EP™ System with a new strategic initiative that we are
launching with the Mayo Foundation for Medical Education and
Research. BioSig is well-positioned to have an excellent 2021, and
we look forward to executing on many opportunities that we believe
will drive shareholder value.”
To view the Company’s Shareholder Letter in its entirety, please
visit https://ir.biosig.com. About BioSig
Technologies BioSig Technologies is a medical technology
company commercializing a proprietary biomedical signal processing
platform designed to improve signal fidelity and uncover the
full range of ECG and intra-cardiac
signals (www.biosig.com).
The Company’s first product, PURE EP™ System is a
computerized system intended for acquiring, digitizing, amplifying,
filtering, measuring and calculating, displaying, recording, and
storing of electrocardiographic and intracardiac signals for
patients undergoing electrophysiology (EP) procedures in an EP
laboratory.
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) the geographic, social and
economic impact of COVID-19 on our ability to conduct our business
and raise capital in the future when needed, (ii) our inability to
manufacture our products and product candidates on a commercial
scale on our own, or in collaboration with third parties; (iii)
difficulties in obtaining financing on commercially reasonable
terms; (iv) changes in the size and nature of our competition; (v)
loss of one or more key executives or scientists; and (vi)
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.
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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