HeartBeam Partners with Triple Ring Technologies to Co-Develop Telehealth Solution Device
March 10 2022 - 8:31AM
Business Wire
3D Vector ECG Collection Device Slated for FDA
510k Submission in the Fourth Quarter of 2022
HeartBeam, Inc. (NASDAQ: BEAT), a developmental stage
digital healthcare company with a proprietary ECG telemedicine
technology for heart attack detection, today announced it has
signed a professional services agreement (the “Agreement”) with
Triple Ring Technologies, Inc. (“Triple Ring”), a co-development
company, to assist in the design and development of its Telehealth
complete solution 3D vector Electrocardiogram (ECG) collection
device for remote heart attack or myocardial infarction (MI)
monitoring. The joint partnership is a five-phase expedited device
development project scheduled to be completed in the fourth quarter
of 2022 for a 510k submission to the FDA.
HeartBeam has developed a personal, portable and easy-to-use
heart attack detection solution that can be used by patients at
home to help their physicians assess whether chest pain is the
result of a heart attack or MI. HeartBeam’s breakthrough solution
employs a reusable, credit card sized, 3D vector ECG recording
device and cloud-based software to deliver critical data to
physicians real-time outside of a medical setting. More than 18
million people in the U.S. have coronary artery disease and every
40 seconds someone in the U.S. has a heart attack, or MI.
Triple Ring is an innovative company with an established
reputation for working with small and large medtech companies on
co-developing successful medical technologies in the marketplace.
Capabilities span early R&D, product development,
manufacturing, regulatory approval, market access, strategic
investment and incubation.
Under the terms of the Agreement, the joint project will include
HeartBeam Telehealth 3D vector ECG collection device builds for
design verification and validation, device packaging, and a
manufacturing technology transfer to a contract manufacturer to be
named later. HeartBeam is currently in discussions with several
contract manufacturers.
“Triple Ring has a long history of designing a wide variety of
innovative medical devices and underlying technologies, and we are
pleased to be working with its medical device team for our
telehealth device,” said Branislav Vajdic, PhD, Chief Executive
Officer and Founder of HeartBeam. “The joint effort will be a
five-phase expedited device development project to rapidly build
and test our 3D vector collection device. Patients place this
credit card sized device on their chest for a 30 second signal ECG
recording, capturing the heart’s electrical activity from three
angles in 3D by recording 3 (xyz) projections of the heart vector.
A smartphone application connected to the device communicates with
the HeartBeam cloud for a diagnostic suggestion and synthesized
12-lead ECG overlaid with baseline. A physician can then remotely
view the results through an online portal and can direct the next
steps for the patient.
“Our technology partnership with Triple Ring will allow us to
rapidly advance commercial production capabilities of our 3D vector
collection device, with the project scheduled to complete in time
for a 510k submission to the FDA in the fourth quarter of this
year. We look forward to working with the team at Triple Ring to
leverage their scientific capabilities, medical device technology
expertise and commercialization know-how to successfully compete
the project,” concluded Vajdic.
“Triple Ring is pleased to partner with HeartBeam to develop the
integral medical device that is part of their complete Telehealth
solution for the detection of heart attacks outside of a medical
institution,” said Joe Heanue, CEO of Triple Ring Technologies. “We
look forward to contributing our capabilities and experience to the
HeartBeam team to help turn their innovative science into
commercial and business success.”
About Triple Ring Technologies
Triple Ring Technologies is a co-development company
headquartered in Silicon Valley, with offices in Boston, Toronto,
and Copenhagen. They partner with clients in medtech, life
sciences, and sustainability & the environment to create new
technologies, launch innovative projects, and start new ventures.
Their capabilities span early R&D, product development,
manufacturing, regulatory approval, market access, strategic
investment, and incubation. For more information, please visit
www.tripleringtech.com.
About HeartBeam, Inc.
HeartBeam, Inc. (NASDAQ: BEAT) is a development stage digital
healthcare company with proprietary ECG telemedicine technology
that will redefine the way high risk cardiovascular patients are
diagnosed in an ambulatory setting at any time and any place. Its
breakthrough solution employs a reusable, credit card sized, 3D
vector ECG recording device and cloud-based software capable of
assisting a physician in diagnosing a wide range of cardiovascular
disease. HeartBeam is initially focusing on a huge unmet need of
helping diagnose heart attacks in patients outside of a medical
institution. No single lead ECG technology can offer this value to
patients and their physicians. This underserved market is several
times larger than the cardiac arrhythmia detection market based on
the prevalence of patients with coronary artery disease at high
risk of heart attack. For more information visit
www.heartbeam.com.
Forward-Looking Statements
All statements in this release that are not based on historical
fact are “forward-looking statements.” While management has based
any forward-looking statements included in this release on its
current expectations, the information on which such expectations
were based may change. Forward-looking statements involve inherent
risks and uncertainties which could cause actual results to differ
materially from those in the forward-looking statements, as a
result of various factors including those risks and uncertainties
described in the Risk Factors and in Management’s Discussion and
Analysis of Financial Condition and Results of Operations sections
of our recently filed Registration Statement on Form S-1, which can
be found on the SEC’s website at www.sec.gov. We urge you to
consider those risks and uncertainties in evaluating our
forward-looking statements. We caution readers not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. Except as otherwise required by the federal
securities laws, we disclaim any obligation or undertaking to
publicly release any updates or revisions to any forward-looking
statement contained herein (or elsewhere) to reflect any change in
our expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
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Media and Investor Relations Contact: Chris Tyson
Executive Vice President MZ North America Direct: 949-491-8235
BEAT@mzgroup.us www.mzgroup.us
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