BioSig AI Sciences Selected for NVIDIA Inception Partnership Program to Support R&D Collaboration on AI Medical Device Platform for Hospitals
July 20 2023 - 7:11AM
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”), a medical technology company delivering unprecedented
accuracy and precision to intracardiac signal visualization, today
announced that its subsidiary BioSig AI Sciences, Inc. (BAIS) was
selected to join NVIDIA Inception, a program designed to partner
with companies revolutionizing industries with advancements in
artificial intelligence (AI) and data sciences.
NVIDIA Inception helps leading emerging-growth companies during
critical stages of product development, prototyping and deployment.
Partners are qualified to receive engineering guidance, technical
training, hardware and software support, co-marketing, and exposure
to the NVIDIA investment community. As BAIS advances research
and development of its AI medical device platform, it intends to
draw on NVIDIA’s wealth of resources including developer
application frameworks and domain-specific AI computing for
building medical devices.
“We are thrilled to join an elite group of AI-centric technology
companies leading the evolution of machine
learning and AI across industries,” said Ken Londoner,
Chairman, CEO and Founder of BioSig. “We believe NVIDIA Inception
will help advance BioSig’s role in identifying transformational
applications of AI opportunities in healthcare.”
BAIS is training its AI platform using electrocardiogram and
intracardiac electrogram data from BioSig’s patented PURE EP™
Platform, used in more than 3,500 procedures to date and featured
in peer-reviewed clinical research. The technology has the
potential to help healthcare systems develop and deploy a branded
ChatGPT-like, multi-modal foundation model that understands
structured, semi-structured, and unstructured medical data across
time-series, text, image, video, and other clinically relevant
signal modalities.
About BAISBAIS, a majority-owned Delaware C
Corporation subsidiary of BioSig, is developing AI solutions for
the hospital marketplace utilizing structured, semi-structured, and
unstructured data.According to Data Bridge Market Research, the
market for AI in healthcare, estimated at $9.6 billion in 2022, is
expected to reach $272.9 billion by 2030, at a CAGR of 51.9% during
the forecast period.1
About BioSigBioSig is an advanced medical
technology company bringing never-before-seen insights to the
treatment of cardiovascular arrhythmias. Through collaboration with
physicians, experts, and healthcare leaders across the field of
electrophysiology (EP), BioSig is committed to addressing
healthcare’s biggest priorities—saving time, saving costs, and
saving lives.
The Company’s first product, the PURE EP™ Platform, an FDA
510(k) cleared non-invasive class II device, provides superior,
real-time signal visualization allowing physicians to perform
insight-based, highly targeted cardiac ablation procedures with
increased procedural efficiency and efficacy.
The global EP market is projected to reach $16B in 2028 with an
11.2% growth rate.2
Forward-looking StatementsThis 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 Data Bridge Market Research. Global Artificial Intelligence in
Healthcare Market – Industry Trends and Forecast to 2030. January
2023.
2 Global Market Insights Inc. March 08, 2022
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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