- Company sees increase in medical centers entering into
60-day evaluation agreements
- Existing customers seeing positive results
from PURE EP™ System expected to increase number of units
purchased
BioSig Technologies, Inc. (NASDAQ: BSGM) ("BioSig" or the
"Company"), a medical technology company advancing
electrophysiology workflow by delivering greater intracardiac
signal fidelity through its proprietary signal processing platform,
today announced that it is seeing positive momentum from the growth
of its sales pipeline, and expects to see an increase in enterprise
adoption of its PURE EP™ System in the coming months.
Since BioSig’s national commercial launch of its PURE EP™ System
on July 1st, 2022, the Company’s commercial pipeline has
experienced a steady increase in advanced leads and technology
adoption across several key regions and centers of excellence.
Under the terms of its new leasing program, the Company recently
signed a purchase agreement with Kansas City Heart Rhythm Institute
at Overland Park Regional Medical Center. In addition, the Company
inked its first master services agreement with one of the largest
U.S. healthcare systems.
Among several key regions, BioSig’s PURE EP™ System continues to
gain interest in hospitals across the Midwest, including new
evaluation agreements with the Cleveland Clinic, a leading Medical
Center of Excellence, and an additional installation at a leading
medical center in Springfield, IL.
“The demand for minimally invasive catheter-based ablation
procedures continues to grow. We believe that market demand is
high, and expect to see an acceleration of commercial activity in
our quarterly results going forward,” commented Kenneth L.
Londoner, Chairman and CEO of BioSig Technologies, Inc.
BioSig’s commercial momentum is supported by its recent decision
to streamline the PURE EP™ System evaluation period from 180-360
days to 60-days. The Company has also implemented a new leasing
program to help expedite the acquisition of Pure EP’s superior
signal processing capabilities and shortens the sales cycle.
Consistent with its stated commercial strategy, BioSig is
prioritizing the growth of its robust sales team, including the
recent appointment of a new sales leader who will cover the COLT
states (Colorado, Oklahoma, Louisiana, and Texas).
“By shortening our evaluation period and providing flexible
paths to purchase, we are meeting the demands of physicians and
supply chain management, ensuring that superior signal processing
technology is within reach. We’re pleased to be exploring
opportunities for repeat business and additional unit placement
with many of our existing accounts,” commented Gray Fleming, Chief
Commercialization Officer, BioSig Technologies, Inc.
Looking further ahead, the Company will be participating in
several key industry conferences and events, including the 2022
Kansas City Heart Rhythm Symposium, taking place at the end of the
month and the Cleveland Clinic Global EP Summit 2022 in September,
where BioSig will serve as sponsor at the annual global summit.
The Company is also expanding its clinical research pipeline,
including the recent commencement of a physician-initiated research
protocol that will analyze the signals acquired by its PURE EP™
System during Radiofrequency (RF) ablation. Led by Dhanunjaya DJ
Lakkireddy, MD, Medical Director for the Kansas City Heart Rhythm
Institute, the single center study underway at Overland Park
Regional Medical Center, is officially registered with
clinicaltrials.gov [NCT05464537], and includes 30 participants with
paroxysmal atrial fibrillation (AF) undergoing pulmonary vein
isolation (PVI).
About BioSig TechnologiesBioSig 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™ System, is a novel signal
processing and acquisition platform designed to extract advanced
diagnostic and therapeutic data that enhances physician workflow
and increases throughput. PURE EP™ was engineered to address the
limitations of existing EP technologies by empowering physicians
with superior signals and actionable insights.
The Company is in a national commercial launch of the PURE EP™
System. The technology is in regular use in some of the country’s
leading centers of excellence, including Mayo Clinic, and
Texas Cardiac Arrhythmia Institute at St. David’s Medical
Center.
Clinical data acquired by the PURE EP™ System in a multi-center
study at centers of excellence including Texas Cardiac Arrhythmia
Institute at St. David’s Medical Center was recently
published in the Journal of Cardiovascular Electrophysiology and is
available electronically with open access via the Wiley Online
Library. Study results showed 93% consensus across the blinded
reviewers with a 75% overall improvement in intracardiac signal
quality and confidence in interpreting PURE EP(T.M.) signals over
conventional sources.
Forward-looking StatementsThis 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) market conditions and the Company’s intended
use of proceeds, (ii) the geographic, social and economic impact of
COVID-19 on our ability to conduct our business and raise capital
in the future when needed, (iii) our inability to manufacture our
products and product candidates on a commercial scale on our own,
or in collaboration with third parties; (iv) difficulties in
obtaining financing on commercially reasonable terms; (v) changes
in the size and nature of our competition; (vi) loss of one or more
key executives or scientists; and (vii) 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
55 Greens Farms Road
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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