$BSGM excerpt/ Announces a Strategic Partnership w
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Posted On: 04/27/2017 2:47:56 PM
$BSGM excerpt/ Announces a Strategic Partnership with Mayo Clinic!
Good Evening Everyone,
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BioSig Technologies Provides Shareholder Update
Minneapolis, MN, April 25, 2017 (GLOBE NEWSWIRE) — BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing the PURE EP(TM) System, a proprietary platform designed to address an unmet technology need for the $4 billion electrophysiology (EP) marketplace, today provided a shareholder update and highlighted the company’s recent achievements it has reached during the first part of 2017.
BioSig Technologies issued a Shareholder Letter to its investors; a copy of which can be found here: Link to Shareholder Letter.
Highlights
· As previously announced, BioSig signed a product development collaboration agreement with expert Mayo Clinic cardiac electrophysiologists.
· The Company secured a private placement with proceeds totaling nearly $5 million, with Laidlaw & Co (UK) Ltd. in New York serving as placement agent, and a separate funding with accredited investors.
· Management is currently engaged with regulatory agencies in the U.S. and in Europe to secure clearance to sell the PURE EP System, both internationally and domestically.
· The Company expressed its intent to enter the emerging field of bioelectric medicine.
“We are extremely pleased with the significant trajectory that we have experienced throughout the first quarter of this year,” stated Kenneth Londoner, Executive Chairman of BioSig Technologies Inc. “In addition to bolstering our relationship with Mayo Clinic expert physicians, we have also made significant strides towards commercialization of our unparalleled electrophysiology technology. BioSig’s PURE EP System, continues to generate excitement within the ever-growing electrophysiology marketplace. We anticipate receiving our FDA 510(k) clearance by the end of this year, and look forward to commercialization in 2018.”
Mr. Londoner continued, “Management feels that we are at an inflection point and that now was an ideal time to reach out to our loyal shareholder base. Going forward, we expect to forge additional relationships with industry leaders, actively target new customers and develop cutting-edge medical devices to capitalize on the evolving medtech space.”
About BioSig Technologies
BioSig Technologies is a medical device company developing a proprietary technology platform designed to improve the $4 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System. The technology has been developed to address an unmet need in a large and growing market.
The PURE EP System is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia.
Data from the 2016 HRI Global Opportunities in Medical Devices & Diagnostics report shows the global Electrophysiology (EP) market revenues is expected to grow nearly 10% annually, from currently $4 billion to approximately $6 billion by 2020 with accompanying procedure growth close to 10% annually, from 865,000 patients in 2015 to 1,350,000 in 2020.
BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance and CE Mark for the PURE EP System.
Mayo Clinic has a financial interest in the technology referenced in this news release.
According to the American Heart Association, AF increases an individual’s risk of stroke (fourth leading cause of death in the U.S.) four to five-fold. AF is the most common arrhythmia with 2.7 million cases in 2010 in the U.S., forecast to grow to 5.6 million cases by 2050. In the U.S. alone, AF leads to about 600,000 hospitalizations/year with a direct cost of about $6 billion annually and, adding indirect costs, brings the AF total cost to $26 billion. Image result for http://www.biosigtech.com
Analysts forecast the global market for EP devices will grow at a 12.1 percent compound annual growth rate from $2.5 billion in 2012 to $5.5 billion by 2019 – making it one of the fastest growing medical device segments. Just in the U.S., the number of AF and VT ablations is forecast to grow at 10.5 percent from 2012 to 2017.
BioSig will seek FDA 510(k) clearance for its PURE EP System. The Company has achieved proof of concept through UCLA EP & Animal Labs and has performed preclinical studies at the Mayo Clinic in Minnesota. BioSig is collaborating with several of the nation’s most prestigious cardiac arrhythmia centers to develop, refine and, ultimately, commercialize the PURE EP System, including:
Good Evening Everyone,
How about that last alert? It turned into a nice winner for some of you bottom feeders who could have racked up to 100% or so in gains while the average trade topped out to be a 40%+ winner. We couldn’t be happier.
https://www.insiderfinancial.com/microcap-profile/
BioSig Technologies Provides Shareholder Update
Minneapolis, MN, April 25, 2017 (GLOBE NEWSWIRE) — BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing the PURE EP(TM) System, a proprietary platform designed to address an unmet technology need for the $4 billion electrophysiology (EP) marketplace, today provided a shareholder update and highlighted the company’s recent achievements it has reached during the first part of 2017.
BioSig Technologies issued a Shareholder Letter to its investors; a copy of which can be found here: Link to Shareholder Letter.
Highlights
· As previously announced, BioSig signed a product development collaboration agreement with expert Mayo Clinic cardiac electrophysiologists.
· The Company secured a private placement with proceeds totaling nearly $5 million, with Laidlaw & Co (UK) Ltd. in New York serving as placement agent, and a separate funding with accredited investors.
· Management is currently engaged with regulatory agencies in the U.S. and in Europe to secure clearance to sell the PURE EP System, both internationally and domestically.
· The Company expressed its intent to enter the emerging field of bioelectric medicine.
“We are extremely pleased with the significant trajectory that we have experienced throughout the first quarter of this year,” stated Kenneth Londoner, Executive Chairman of BioSig Technologies Inc. “In addition to bolstering our relationship with Mayo Clinic expert physicians, we have also made significant strides towards commercialization of our unparalleled electrophysiology technology. BioSig’s PURE EP System, continues to generate excitement within the ever-growing electrophysiology marketplace. We anticipate receiving our FDA 510(k) clearance by the end of this year, and look forward to commercialization in 2018.”
Mr. Londoner continued, “Management feels that we are at an inflection point and that now was an ideal time to reach out to our loyal shareholder base. Going forward, we expect to forge additional relationships with industry leaders, actively target new customers and develop cutting-edge medical devices to capitalize on the evolving medtech space.”
About BioSig Technologies
BioSig Technologies is a medical device company developing a proprietary technology platform designed to improve the $4 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System. The technology has been developed to address an unmet need in a large and growing market.
The PURE EP System is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia.
Data from the 2016 HRI Global Opportunities in Medical Devices & Diagnostics report shows the global Electrophysiology (EP) market revenues is expected to grow nearly 10% annually, from currently $4 billion to approximately $6 billion by 2020 with accompanying procedure growth close to 10% annually, from 865,000 patients in 2015 to 1,350,000 in 2020.
BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance and CE Mark for the PURE EP System.
Mayo Clinic has a financial interest in the technology referenced in this news release.
According to the American Heart Association, AF increases an individual’s risk of stroke (fourth leading cause of death in the U.S.) four to five-fold. AF is the most common arrhythmia with 2.7 million cases in 2010 in the U.S., forecast to grow to 5.6 million cases by 2050. In the U.S. alone, AF leads to about 600,000 hospitalizations/year with a direct cost of about $6 billion annually and, adding indirect costs, brings the AF total cost to $26 billion. Image result for http://www.biosigtech.com
Analysts forecast the global market for EP devices will grow at a 12.1 percent compound annual growth rate from $2.5 billion in 2012 to $5.5 billion by 2019 – making it one of the fastest growing medical device segments. Just in the U.S., the number of AF and VT ablations is forecast to grow at 10.5 percent from 2012 to 2017.
BioSig will seek FDA 510(k) clearance for its PURE EP System. The Company has achieved proof of concept through UCLA EP & Animal Labs and has performed preclinical studies at the Mayo Clinic in Minnesota. BioSig is collaborating with several of the nation’s most prestigious cardiac arrhythmia centers to develop, refine and, ultimately, commercialize the PURE EP System, including:
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