Minneapolis, MN, Jan. 20, 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, announced that the company mailed a letter to its shareholders updating them on recent developments, market trends, and new business opportunities.
Key Highlights in 2016:
- BioSig has been featured in three peer-reviewed presentations and publications regarding its collaboration with Mayo Clinic.
- The most recent MD&D report shows the global Electrophysiology (EP) market revenues will grow nearly 10% annually, from currently $4 billion to approximately $6 billion by 2020.
- The accompanying procedure growth close to 10% annually, from 865,000 patients in 2015 to 1,350,000 in 2020.
- Management intends to transition to a national exchange this year, and believes that the “uplisting” will provide access to a wider range of investors and analysts.
- BioSig’s article entitled “Novel Electrophysiology Signal Recording System Enables Specific Visualization of the Purkinje Network and Other High-Frequency Signals” was published in the Journal of the American College of Cardiology (JACC): Clinical Electrophysiology.
- BioSig conducted several studies with its PURE EP System in a ventricular scar model at Mount Sinai Hospital in New York, NY with Dr. Vivek Reddy and his team, which will continue to expand clinical research activities.
- PURE EP has since entered its seventh Pre-Clinical Trial to further research capabilities of the system.
- Management engaged Minnetronix, an award winning medical technology and innovation firm, to complete design and development of the first version of the PURE EP System.
- The Company is currently working with regulatory agencies, both domestically and abroad in order to secure clearance to market and sell the PURE EP System.
- Successful completion of these submissions would serve as a vital step in achieving commercialization.
“I am extremely pleased with the recent achievements that we have made, and believe that now is an ideal time to provide an in-depth overview of the Company to the investment community,” stated Mr. Gregory Cash, President and CEO of BioSig Technologies. “Since inception, our management has been focused on building a strong platform of best-in-class technologies coupled with strategic industry relationships. I feel that we are now well positioned to leverage those assets within the rapidly growing medtech marketplace. I have no doubt, that the introduction of BioSig’s PURE EP System will be a significant advancement in addressing the multi-billion dollar Electrophysiology market. Going forward, we are committed to commercializing this product on a global scale, uplisting to a more senior exchange and enhancing overall shareholder value.”
To view BioSig Technologies’ Shareholder Letter please visit: LINK
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.
BioSig’s 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 will 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. Procedure growth in the United States alone is projected at an 11.0% annual rate, from 250,000 in 2015 to 422,000 in 2020; accompanied by an 11.7% growth in revenues, from $1.85 billion in 2015 to $3.220 billion 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. The Company has achieved proof of concept validation and tested its prototype at the University of California at Los Angeles (UCLA) Cardiac Arrhythmia Center, and has performed pre-clinical studies at Mayo Clinic in Minnesota and Mount Sinai Hospital in NY. The company continues to perform research and development studies in the form of an Advanced Research Program at Mayo Clinic which began in June 2016. Other prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute and UH Case Medical Center in Cleveland also play an important role in the PURE EP technology.
Investor Relations: Brian McLaughlin BioSig Technologies, Inc. firstname.lastname@example.org 917-370-9817 Robert Haag IRTH Communications BSGM@irthcommunications.com 866-976-4784