BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”) today appointed Mr. Dennis Purcell to the Board of
Directors of its majority-owned subsidiary ViralClear
Pharmaceuticals, Inc.
Mr. Purcell brings to ViralClear a wealth of life science and
investment experience. Mr. Purcell is the Founder of Aisling
Capital LLC and previously served as Senior Managing Partner. Prior
to Aisling Capital, Mr. Purcell served as Managing Director of the
Life Sciences Investment Banking Group at Chase H&Q (formerly
Hambrecht & Quist, “H&Q”). Aisling Capital (formerly
Perseus-Soros Bio-pharmaceutical Fund), formed in 2001, is a
leading venture capital fund that has invested over $2 billion in
emerging biopharmaceutical companies globally which has helped the
industry to mature and become the main source of new innovative
drugs and devices being used to treat diseases today. While at
H&Q, Mr. Purcell was directly involved with over two hundred
completed transactions and supervised over $10 billion of financing
and advisory assignments in the Life Sciences industry. Prior to
joining H&Q, Mr. Purcell was a Managing Director in the
Healthcare Group at PaineWebber, Inc.
Mr. Purcell is a frequent commentator on the industry and has
been honored in the “Biotech Hall of Fame” by Genetic Engineering
News, named to the Biotechnology All-Stars list by Forbes ASAP,
honored as one of the top 50 Irish-American businessmen and cited
as one of the top 100 contributors to the biotechnology
industry.
Mr. Purcell serves on numerous healthcare company boards. He
currently sits on the Boards of Real Endpoints, Summus Global,
Inc., BioScience Managers Pty Ltd., and Ichnos Sciences. He also
serves as a member of the Board of: the Editorial Advisory Board at
Life Science Leader Magazine; the Executive Committee at NYBIO
Association; the University of Delaware Investment Visiting
Committee as well as the Biopharmaceutical Innovation Board at the
University of Delaware; the Foundation of the Alliance for
Regenerative Medicine; and the Healthcare sector of the New York
City Investment Fund. He is also an Executive in Residence at
Columbia University.
Mr. Purcell received his M.B.A. from Harvard Business School and
his B.S. in Accounting from the University of Delaware.Mr. Purcell
is the latest high-profile addition to the Company’s Board and will
serve alongside former Chief Medical Officer of Celgene Jerome
Zeldis, M.D., Ph.D, Nick Spring, CEO of ViralClear and a former
senior executive at Merck & Co. and Anthony Zook, former senior
executive at Astra Zeneca, Plc.
“ViralClear assembled a team with a highly impressive collective
skillset to address a very pressing public health issue. I look
forward to joining the management and my fellow Board members as
the Company seeks to translate the strong in vitro findings into
clinically meaningful results,” commented Mr. Purcell.
“We are thrilled to welcome Dennis at this important time in our
Company’s development, and look forward to his contributions,”
added Jerome Zeldis, M.D., Ph.D, Executive Chair of ViralClear
Pharmaceuticals, Inc.
The Company recently announced that Mayo Clinic is set to become
a study site for a planned Merimepodib Phase II clinical trial for
the treatment of COVID-19, once permitted by the FDA. The study
will be a randomized, placebo-controlled trial. Data from the Phase
II trial is expected within three months from its commencement.
“Dennis is a fantastic addition to ViralClear Board. His extensive
knowledge of the biotech industry and his directorship expertise
will be highly valuable to the Company as it reaches inflection
points in its development,” stated Kenneth L. Londoner, Chairman
and CEO of BioSig Technologies, Inc. and Director of ViralClear
Pharmaceuticals, Inc.
About merimepodibAnti-viral candidate
merimepodib (MMPD) targets RNA-dependant polymerases. The molecule
has shown activity against a broad spectrum of RNA viruses and has
demonstrated satisfactory safety data from over 300 patients
treated for hepatitis C. Recently, the Company published first
pre-clinical data generated under contract with Galveston National
Laboratory at The University of Texas Medical Branch. The Company
recently submitted two manuscripts titled“The IMPDH inhibitor
merimepodib provided in combination with the adenosine analogue
remdesivir reduces SARS-CoV-2 replication to undetectable levels in
vitro” and “The IMPDH inhibitor merimepodib suppresses SARS-COV-2
replications”. The manuscripts were authored by Natalya Bukreyeva,
Emily K. Mantlo, Rachel A. Sattler, Cheng Huang, John T. Manning,
Slobodan Paessler, DVM, Ph.D of the UTMB Galveston National
Laboratory and Jerome Zeldis, M.D., Ph.D of ViralClear. In-vitro
studies referenced in the manuscript demonstrated that merimepodib
decreased viral production by over 98%. 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 ViralClearBioSig’s subsidiary ViralClear
Pharmaceuticals, Inc., is seeking to develop a novel pharmaceutical
to treat COVID-19. Merimepodib is intended to be an orally
administered, broad-spectrum anti-viral agent that has demonstrated
strong activity against COVID-19 in cell cultures in laboratory
testing. The product candidate has completed Phase I and three
Phase II trials in other indications.
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) the geographic, social and economic impact of
COVID-19 on our ability to conduct our business and raise capital
in the future when needed, (ii) our inability to manufacture our
products and product candidates on a commercial scale on our own,
or in collaboration with third parties; (iii) difficulties in
obtaining financing on commercially reasonable terms; (iv) changes
in the size and nature of our competition; (v) loss of one or more
key executives or scientists; and (vi) 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.
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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