HeartSciences Granted European Patent for Proprietary Electrode and Cable Connections for Use with its AI-Based MyoVista® ECG
October 25 2022 - 9:00AM
Heart Test Laboratories, Inc. d/b/a HeartSciences (NASDAQ:
HSCS; HSCSW) (“HeartSciences” or the “Company”), a medical
technology company focused on saving lives by making an ECG (also
known as an EKG) a far more valuable screening tool through the use
of AI, today announced it has been granted a patent from the
European Patent Office (EPO). The patent covers the design of the
Company’s electrode and cable connectors for use with an ECG, and
in particular its MyoVista® device.
“Millions of ECGs are performed every week. The
electrodes used with the MyoVista® are proprietary to
HeartSciences. Adding Europe to our electrode patent coverage
strengthens and diversifies our overall intellectual property
portfolio as well as further protects future recurring revenues.
This granted patent enhances our strategic position as we progress
toward commercialization,” stated Andrew Simpson, CEO of
HeartSciences.
“Unlike a conventional ECG, the MyoVista® AI
algorithm for cardiac dysfunction analyzes frequency signals from
the heart. Our unique electrode design helps ensure an optimal,
high quality, low impedance signal capture for each and every test.
We have secured a number of U.S. and international patents and this
most recent expansion of our IP portfolio is an example of how we
continue to leverage our first mover advantage as we position
ourselves to deliver a new era of clinical value for ECGs across
the US and internationally.”
Electrocardiography (ECG) systems analyze the
electrical activity of the heart by recording and processing
electrical signals using electrodes placed on a patient’s body. The
MyoVista® 12-lead AI-enabled ECG system includes electrodes and a
processing device connected to the electrodes via a suitable cable.
For safety and security, new electrodes are used for every ECG
test.
About HeartSciencesHeart Test Laboratories,
Inc. d/b/a HeartSciences is a medical technology company focused on
applying innovative AI-based technology to an ECG (also known as an
EKG) to expand and improve an ECG’s clinical usefulness. Millions
of ECGs are performed every week and the Company’s objective is to
improve healthcare by making an ECG a far more valuable cardiac
screening tool, particularly in frontline or point-of-care clinical
settings. HeartSciences’ first product candidate for FDA clearance,
the MyoVista® wavECG, or the MyoVista®, is a resting 12-lead ECG
that is also designed to provide diagnostic information related to
cardiac dysfunction which has traditionally only been available
through the use of cardiac imaging. The MyoVista® also provides
conventional ECG information in the same test. The business model,
which involves the use of the MyoVista® device and consumables for
each test, is expected to be “razor-razorblade” as the electrodes
used with the MyoVista® are proprietary to HeartSciences, and new
electrodes are required for every test performed.For more
information, please visit:
https://www.heartsciences.com. Twitter: @HeartSciencesSafe
Harbor StatementThis announcement contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements are made under the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995
and are relating to the Company's future financial and operating
performance. All statements, other than statements of historical
facts, included herein are "forward-looking statements" including,
among other things, statements about HeartSciences’ beliefs and
expectations. These statements are based on current expectations,
assumptions and uncertainties involving judgments about, among
other things, future economic, competitive and market conditions
and future business decisions, all of which are difficult or
impossible to predict accurately and many of which are beyond the
Company's control. The expectations reflected in these
forward-looking statements involve significant assumptions, risks
and uncertainties, and these expectations may prove to be
incorrect. Investors should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Potential risks and uncertainties include, but are
not limited to, risks discussed in HeartSciences’ filings with the
U.S. Securities and Exchange Commission at www.sec.gov. Other than
as required under the securities laws, the Company does not assume
a duty to update these forward-looking statements.For investor
and media inquiries, please contact:Investor
Relations:Crescendo Communications, LLCPhone: (212)
671-1021Email: HSCS@crescendo-ir.com
Company:Gene GephartPhone: +1-737-414-9213
(US)Email: investorrelations@heartsciences.com
Heart Test Laboratories (NASDAQ:HSCS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Heart Test Laboratories (NASDAQ:HSCS)
Historical Stock Chart
From Apr 2023 to Apr 2024