BioSig’s Division NeuroClear Technologies Signs a Research Agreement with the University of Minnesota
December 18 2020 - 8:30AM
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 and its
NeuroClear Technologies division signed a new research agreement
with the University of Minnesota.
Under the terms of the agreement, the Company intends to launch
a program to develop novel therapies to treat sympathetic nervous
system disease. Due to launch in Q4 2020, the program studies are
expected to form a foundation for developing a new platform
technology to address disorders of the autonomic nervous system.
NeuroClear intends to develop new intellectual properties and
products, including new hardware, software, and algorithmic
solutions, with the support of a tier 1 US-based manufacturing
partner and take it through FDA approval, manufacturing, and
commercialization. The R&D program will be run under the
leadership of Richard W. Bianco, Ph.D., Professor, Director of
Experimental Surgical Services (ESS), Department of Surgery in the
University of Minnesota Medical School, John W. Osborn, Ph.D.,
Professor, Department of Surgery and Director of the Minnesota
Consortium for Autonomic Neuromodulation (MCAN) in the University
of Minnesota Medical School and Barry Keenan, Ph.D., Vice President
of Engineering at NeuroClear.
“We are very pleased to commence a new research and development
program with the accomplished team at the University of Minnesota.
Our mission is to lead through innovation in bioelectronic
medicine, and we are most impressed with the cutting-edge research
work led by John and his colleagues. Our team made tremendous
progress in the past twelve months, having identified several
lucrative opportunities, onboarded a leading manufacturing partner,
and developed a scientific proposal to drive this program forward.
We are thrilled to begin this new chapter and look forward to
reporting on our progress,” commented Kenneth L Londoner, Chairman,
and CEO of BioSig Technologies, Inc.
“I am extremely excited about this strong collaboration between
the University of Minnesota and NeuroClear Technologies. This
agreement combines the rich expertise in autonomic neuromodulation,
the 40-year track recorded of ESS in device development at the
University of Minnesota, with NeuroClear’s mission to develop
technology for recording and processing of biological signals
specifically for treating the diseases of the autonomic nervous
system. This aligns perfectly with the mission of MCAN.” said John
W. Osborn, Ph.D.
“University of Minnesota is at the forefront of autonomic
neuromodulation research. We believe that with their expertise,
resources and collaboration, we can accelerate product development
of new novel bioelectronic medicine devices,” commented Barry
Keenan, Ph.D., Vice President of Engineering of BioSig
Technologies, Inc.
The Company previously reported that it appointed John W.
Osborn, Ph.D. as a Consultant on autonomic neuromodulation and
raised $3.7 million in an initial seed round in August 2019.
About NeuroClear Technologies Founded in
November 2018, NeuroClear Technologies aims to address some of the
biggest challenges in bioelectronic medicine, including, but not
limited to, targeted nerve stimulation and a closed feedback loop
system. NeuroClear intends to build upon the core competencies in
recording and analyzing intracardiac, surface ECG and neuronal
signals, which have been already validated by BioSig, and develop a
dedicated product line to address and advance current therapies
within several markets, such as cognitive disorders and
nephrology.
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 (tm) 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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