BioSig subsidiary NeuroClear acquires license for a broad-spectrum anti-viral agent that may treat COVID-19. Laboratory resul...
March 25 2020 - 7:52AM
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”), a medical technology company commercializing a
proprietary biomedical signal processing platform, today announced
that its majority-owned subsidiary NeuroClear Technologies, Inc.
acquired the rights to develop a novel pharmaceutical to treat
Coronavirus Disease 2019 (COVID-19).
In a preliminary internal review, the orally administered,
broad-spectrum anti-viral agent Vicromax(tm) demonstrated strong
activity against COVID-19 in cell cultures in laboratory testing.
In this analysis, Vicromax(tm) was added to a tissue culture assay
for SARS-CO-2 coronavirus (the causative agent for COVID-19) and an
anti-viral effect was observed, which led to a reduction of over
90% of infectious viruses. The Company intends to pursue
development of this agent for the treatment of COVID-19 through
FDA-approved clinical trials.
The product candidate already completed Phase I and three Phase
II trials in other indications, and underwent extensive animal
testing and human clinical experience. The Company expects that
Vicromax(tm) could be used alone or in a combination with other
anti-viral agents or immune modulators.
“Stopping the COVID-19 pandemic and preventing similar viral
threats in the future must be the number-one priority of all of us
in the healthcare community," said Kenneth L. Londoner, Chairman
and CEO of BioSig Technologies, Inc. "This very promising
anti-viral is the result of tireless efforts by an accomplished
group of pharmaceutical industry veterans, and we are doing
everything in our power to ensure it gets tested and brought to
market as soon as possible.”
The Company intends to develop Vicromax(tm) and take it through
clinical trials under a new NeuroClear subsidiary, ViralClear
Pharmaceuticals, Inc. The Company appointed Mr. Nick Spring as
Chief Executive Officer of ViralClear and Mr. Steve King as Chief
Operating Officer.
Mr. Spring is a seasoned global executive and entrepreneur with
experience spanning both human and animal health. During his
extensive career at Merck & Co., he led the worldwide franchise
for live viral human vaccines as well as the strategic team that
crafted the US launch plan for the HPV vaccine, Gardasil®, which
became a billion-dollar franchise. Most recently, Mr. Spring was
Founder and CEO of Humanitas, a biotechnology and life sciences
consulting firm that advises blue-chip global companies.
Previously, he served as President and CEO of a medical device
company, Reliefband Technologies, and as Founder and CEO of Topaz
Pharmaceuticals Inc, where he raised $35 million in private
investment and took the company from concept to FDA approval to
exit, selling the company for over $200 million to Sanofi. Earlier
in his Merck career, Mr. Spring helped build the Ivermectin family
of endectocides into a billion-dollar global franchise and manage
the start-up of Merial, a Merck/Sanofi animal health joint venture.
While at Merial, Mr. Spring was part of the strategic leadership
planning team that laid the foundations for Heartgard® and the
blockbuster Frontline® brand.
Mr. King is an experienced pharmaceutical executive with proven
skills in business development, licensing, and small-molecule drug
development and commercialization. Most recently, he served as
President at 21159 Pharma, a strategic consulting and business
development company. Previously he was Senior Vice President at Pii
(Pharmaceutics International Inc), building the contract
development and manufacturing organization (CDMO) in the US and the
UK. Earlier in his career, Mr. King worked for Janssen
Pharmaceuticals and managed international business development for
UK-based R.P. Scherer Corporation (Catalent), which specializes in
the development and supply of pharmaceutical products
including softgel products. He earned his Pharmacy degree
from the London School of Pharmacy.
About BioSig Technologies BioSig Technologies
is a medical technology company commercializing a proprietary
biomedical signal processing platform designed to improve signal
fidelity and uncover the full range of ECG and intra-cardiac
signals (www.biosig.com).
The Company’s first product, PURE EP(tm) System is a
computerized system intended for acquiring, digitizing, amplifying,
filtering, measuring and calculating, displaying, recording and
storing of electrocardiographic and intracardiac signals for
patients undergoing electrophysiology (EP) procedures in an EP
laboratory.
About NeuroClear TechnologiesNeuroClear
Technologies, a majority-owned BioSig subsidiary, is a medical
technology company focused on electroneurogram recordings. The
Company aims to address some of the biggest challenges of
bioelectronic medicine devices through targeted stimulation and
feedback loops for optimal therapy delivery.
Forward-looking Statements This press release
contains “forward-looking statements.” Such statements may be
preceded by the words “intends,” “may,” “will,” “plans,” “expects,”
“anticipates,” “projects,” “predicts,” “estimates,” “aims,”
“believes,” “hopes,” “potential” or similar words. Forward- looking
statements are not guarantees of future performance, are based on
certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the Company’s
control, and cannot be predicted or quantified and consequently,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such risks and
uncertainties include, without limitation, risks and uncertainties
associated with (i) our inability to manufacture our products and
product candidates on a commercial scale on our own, or in
collaboration with third parties; (ii) difficulties in obtaining
financing on commercially reasonable terms; (iii) changes in the
size and nature of our competition; (iv) loss of one or more key
executives or scientists; and (v) difficulties in securing
regulatory approval to market our products and product candidates.
More detailed information about the Company and the risk factors
that may affect the realization of forward-looking statements is
set forth in the Company’s filings with the Securities and Exchange
Commission (SEC), including the Company’s Annual Report on Form
10-K and its Quarterly Reports on Form 10-Q. Investors and security
holders are urged to read these documents free of charge on the
SEC’s website at http://www.sec.gov. The Company assumes no
obligation to publicly update or revise its forward-looking
statements as a result of new information, future events or
otherwise.
* Commercial name pending
Shareholder contact:
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
Media contact:
Mario Ottiglio
High Lantern Group
Managing Director
mottiglio@highlanterngroup.com
+41 79 538 8624
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