BioSig Technologies Inc (NASDAQ:BSGM) founder, Chairman, and CEO Kenneth L. Londoner told investors on Monday that the commercial adoption of the company’s first product called the PURE EP, which measures electrocardiographic signals, is “gaining momentum.”
In an update on the commercial adoption of the PURE EP system, Westport, Connecticut-based BioSig touted the first commercial sale of three units to St. David’s HealthCare in Austin, Texas, an HCA Healthcare-owned hospital.
In addition, more than 643 patient cases have been conducted with the PURE EP system by 40 physicians across eight clinical sites to date.
“We made some significant strides in 2020, which have laid the foundation for a strong 2021,” Londoner said in a letter to shareholders.
“Commercial adoption of the PURE EP System is gaining momentum, and we continue to add new healthcare facilities and complete more patient cases. Commercialization, innovation, and growth remain at the forefront of our strategic priorities as we expand our clinic footprint and strengthen our product positions and service offerings.”
BioSig’s biomedical signal processing platform, called PURE EP, is designed to improve signal fidelity and uncover the full range of ECG and intracardiac signals.
At least three more clinical sites are scheduled to kick off the evaluation of the PURE EP system in the coming months, including the New York-Presbyterian/Weill Cornell Medical Center and the Michigan Medicine–University Hospital that “maintain two of the most extensive electrophysiology programs in the country,” the company said.
BioSig said it has deployed Vuzix M400 Smart Glasses for remote servicing and training, allowing its customers “uninterrupted access” to its technical team.
“We have a strong balance sheet, we are progressing well with our neurostimulation division, and are looking to the future of next-generation AI- and machine learning-powered software for our PURE EP System with a new strategic initiative that we are launching with the Mayo Foundation for Medical Education and Research,” said Londoner.
The program will be spearheaded by the Mayo Clinic and Dr Alexander Wissner-Gross, a leading AI scientist at the Massachusetts Institute of Technology.
“Balance sheet remains robust with $28.3 million in cash, cash equivalent, and short-term investments, well-positioned for 2021, based on current expectations,” said the company.
The company said its NeuroClear division is developing “a novel nerve sensing and stimulation technology to improve current treatments for resistant hypertension and other nerve-related therapeutic targets.”
“BioSig is well-positioned to have an excellent 2021, and we look forward to executing on many opportunities that we believe will drive shareholder value,” said Londoner.
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
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