BioSig Technologies Signs Three New Licensing Agreements with Mayo Clinic
November 26 2019 - 7:52AM
·New areas of collaboration identified
between Mayo Clinic and BioSig
·Focus on previously untapped arrhythmia
treatments
·Additional development areas covering novel
therapies for autonomic nervous system disease
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”), a medical technology company developing 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 and its majority-owned
subsidiary signed three new patent and know-how license agreements
with Mayo Foundation for Medical Education and Research.
Under the terms of the newly reached agreements the Company
plans to establish a new product pipeline to complement more
advanced features of BioSig’s first product, PURE EPTM System, and
develop solutions for novel ways to treat autonomic nervous system
disease. The new R&D pipeline includes hardware, software and
algorithmic solutions to be integrated into PURE EPTM platform
technology. BioSig intends to take the licensed intellectual
properties and products, which have been developed by Mayo Clinic
over the last decade, through FDA approval, manufacturing, and
commercialization. The development 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.
“Sustainable innovation in medicine goes beyond individual
products and entails consistent approach to improving the way
therapies are delivered. A significant part of our R&D efforts
is dedicated to basic science to advance understanding of
arrhythmia origination and analysis of the spectrum of other
conditions which often accompany heart disease. Mayo Clinic’s
mission to providing the best care through integrated clinical
practice, research and education deeply resonates with BioSig’s own
mission to lead through innovation in bioelectronic medicine, and
we are pleased to unveil this new, exciting, chapter in our
Company’s development,” commented Kenneth L Londoner, Chairman and
CEO of BioSig Technologies, Inc.
“Development of leading-edge therapeutic solutions requires
profound knowledge of the leading academic institutions and
commitment and dedication of the industry. As part of the growing
relationship between physicians at Mayo Clinic and BioSig, my
colleagues and I look forward to contributing to the success of the
new projects,” said Samuel Asirvatham, M.D., Vice Chair, Innovation
and Medical Director, Electrophysiology Laboratory, Mayo Clinic,
Rochester, MN. The Company signed a 10-year collaboration agreement
with Mayo Clinic in March 2017. On November 21, 2019 the
Company announced that it commenced patient enrollment in its first
clinical trial for the PURE EPTM System.
Mayo Clinic and Dr. Asirvatham have a financial interest in the
technology referenced in this news release. Mayo Clinic will use
any revenue it receives to support its not-for-profit mission in
patient care, education and research.
About BioSig TechnologiesBioSig Technologies is
a medical technology company developing a proprietary biomedical
signal processing platform designed to improve the
electrophysiology (EP) marketplace (www.biosig.com). Led by a
proven management team and a veteran Board of Directors, BioSig
Technologies is preparing to commercialize its PURE EPTM System.
The technology has been developed to address an unmet need in a
large and growing market.The Company’s first product, PURE EPTM
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. The system is indicated for use under the
supervision of licensed healthcare practitioners who are
responsible for interpreting the data. This novel cardiac signal
acquisition and display system is engineered to assist
electrophysiologists in clinical decision-making during
electrophysiology procedures in patients with abnormal heart rates
and rhythms. BioSig’s ultimate 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 received FDA 510(k) clearance for the PURE EPTM
System in August 2018.
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 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.
TM
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x119
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