BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”), a medical technology company commercializing an
innovative 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 entered
into a feasibility study with The Technion Research &
Development Foundation Ltd.
Based in Haifa, Israel, Technion – Israel Institute of
Technology is a public research university offering degrees in
science, engineering, and related fields, such as medicine,
industrial management, and education. Over the years, the Technion
established itself as a leading academic institution in Artificial
Intelligence (AI). It is currently ranked as number one in AI in
Europe and 15th in the world, with 100 faculty members engaged in
areas across the AI spectrum.
The feasibility program with BioSig will be led by Asst. Prof.
Joachim Behar, Head of the Artificial Intelligence in Medicine
Laboratory (AIMLab) at the Technion. Under the terms of the
program, the ECG signals supplied by the PURE EP(tm) System,
the Company’s signal processing technology for arrhythmia care,
will be analyzed in the context of developing AI-powered algorithms
for atrial fibrillation ablation procedures.
“Artificial Intelligence is promptly becoming an essential tool
for increasing efficiency and driving value in many sectors of
healthcare, but predictive insights that form the foundation for
machine learning solutions are dependant on the high-quality input
data. Our clinical work provides us with vast volumes of smaller,
often undetectable cardiac signals that hold additional diagnostic
information, and we are thrilled to partner with Prof. Behar and
his Technion team to take our AI work to the next level. Their
expertise in developing deep learning systems for ECG records is
invaluable to this program, and we look forward to reporting on the
progress of this promising new project,” commented Kenneth L.
Londoner, Chairman, and CEO of BioSig Technologies, Inc.
“The laboratory for artificial intelligence in medicine
(AIMLab.) at the Technion focuses on the usage of advanced signal
processing and machine learning in medicine within the context of
physiological time series analysis with a specific focus in
cardiology where we have 10 years of expertise in processing and
analysing the ECG signal. In particular, in our most recent
research we have developed robust deep learning algorithms for AF
diagnosis and risk prediction working on large databases -
totalling over a million ECG recordings. We look forward to
contributing our expertise to support leading industry in the field
providing novel clinical ECG analysis tools. Our new partnership
with BioSig is aligned with this desire to contribute and impact
the medical field through AI powered algorithms to support clinical
decision making in cardiology," commented Asst. Prof. Behar.
One in 18 Americans suffers from a cardiac arrhythmia. Atrial
fibrillation is the most common arrhythmia type, affecting over 33
million people worldwide, including over 6 million in the U.S. The
number of people suffering from atrial fibrillation is expected to
reach 8-12 million by 20501. According to the Centers for
Disease Control and Prevention (CDC), atrial fibrillation causes
more than 750,000 hospitalizations in the U.S. each year, resulting
in approximately $6 billion in healthcare spending annually2.
The PURE EP(tm) is an FDA 510(k) cleared non-invasive class
II device that aims to drive procedural efficiency and efficacy in
cardiac electrophysiology. To date, over 70 physicians have
completed over 1600 patient cases with the PURE EP(tm) System.
Clinical data acquired by the PURE EP(tm) System in a
multi-center study at Texas Cardiac Arrhythmia Institute at St.
David’s Medical Center, Mayo Clinic Jacksonville and Massachusetts
General Hospital was recently published in the Journal of
Cardiovascular Electrophysiology and is available electronically
with open access via the Wiley Online Library. Study results showed
93% consensus across the blinded reviewers with a 75% overall
improvement in intracardiac signal quality and confidence in
interpreting PURE EP(tm) signals over conventional
sources.
About Technion – Israel Institute of
Technology
Founded in 1912, Technion-Israel Institute of Technology is
Israel’s first university and its largest center of applied
research. Technion is ranked among the leading technological
universities worldwide. A major source of the innovation and
brainpower that drives the Israeli economy, Technion is the engine
behind Israel’s renown as the iconic “Startup Nation.” Technion
people, ideas, and inventions have made, and continue to make
tremendous scientific contributions in fields such as medicine,
sustainable energy, computer science, water conservation, and
nanotechnology. It is one of a handful of technological institutes
worldwide with a medical school, facilitating the rapid development
of advanced therapies and devices, from the laboratory to the
patient's bedside.Technion’s success is attributed to its
unwavering commitment to excellence in education and research. The
University is proud of its four Nobel laureates – Aaron
Ciechanover, Avram Hershko, Dan Shechtman, and Arieh Warshel.
Technion currently ties with MIT in 8th place for the number of
Nobel prizewinners this century.In 2011, Technion and Cornell
University partnered to establish an applied science and
engineering institution in New York City: The Joan and Irwin Jacobs
Technion Cornell Institute (JTCI). In 2013, Technion joined with
Shantou University to establish the Guangdong Technion-Israel
Institute of Technology (GTIT) in China.
The Technion Research and Development Foundation (TRDF) manages
university research programs and performs testing and research
services for industry and government. T3, the technology transfer
arm of TRDF, takes the university’s game-breaking scientific ideas
and matches them with investors and entrepreneurs, licensing
intellectual property and supporting the establishment of startup
companies. 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.
1 Top 10 Things You should Know About Heart Rhythm; Scripps
Health.
2 Managing Atrial Fibrillation; Lisa Eramom MA, Medical
Economics Journal, February 25, 2019, Volume 96, Issue 4
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
55 Greens Farms Road
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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