Today we take a look at BioSig Technologies, (OTCQB: BSGM). The company was founded in 2009 at is headquartered in Minneapolis, Minnesota.
BioSig Technologies, Inc., a development stage medical device company, engages in developing a proprietary technology platform to minimize noise and artifacts from cardiac recordings during electrophysiology studies and ablation. The company develops includes PURE (Precise Uninterrupted Real-time evaluation of Electrograms) EP System, a surface electrocardiogram, and intracardiac multichannel recording and analysis system, which acquires, processes, and displays electrocardiogram and electrograms required during electrophysiology studies and ablation procedures. It is also developing a library of software tools that are designed to be configured to fit the needs of electrophysiologists in various settings and for arrhythmia treatments.
BioSig Technology aims to eliminate the noise associated with Diagnostic Cardiac Electrophysiology and Catheter Ablation procedures. In layman’s terms, the company’s technology is aimed at improving cardiac recordings of patients who suffer primarily from irregular heartbeats and or heart rates, and these cases are very much on the rise across the globe. The company’s proprietary system aids electrophysiologist in making real-time analysis and decisions that greatly improve outcomes for their patients. Its proprietary platform is designed to address an unmet need in the $4 billion electrophysiology (EP) market and this market is expected to grow to nearly $6 billion by 2020. Furthermore, according to industry data, growth in these types of heart procedures is expected to grow around 10% annually through 2020, by then nearly 1.3 million patients will have undergone an EP procedure.
On March 17, 2017, BioSig Technologies signed a ten year strategic agreement with Mayo Clinic and Mayo Clinic Ventures. This new and expanded collaboration builds upon the upon the work realized under Advanced Clinical Research Program that was signed with the Mayo Clinic in 2016. BioSig intends to work closely with Samuel Asirvatham, M.D. and K. L. Venkatachalam, M.D., cardiac electrophysiologists at Mayo Clinic, to develop advanced clinical features and applications for its PURE EP System as well as to leverage the company’s core competency in physiologic signal processing to develop future technologies. Drs. Asirvatham and Venkatachalam are expected to contribute know-how, intellectual property and clinical support to the partnership. The company expects joint patent filings to come out of the relationship. Also on July 11, 2017 the company engaged with Health Research International (HRI) to compile essential market data and help perform strategic planning for its PURE EP™ platform technology. Project goals include understanding and presenting the clinical relevance of BioSig’s technology, pricing strategies, and envisioning optimal applications of BioSig’s platform technology beyond EP. In addition to benefitting from HRI’s acknowledged research expertise, the Company will gain access to HRI’s extensive network in the medical field. This collaboration will provide further meaningful input regarding new products, technologies, and clinical applications, as the Company moves closer to the commercialization of the PURE EP System.
BioSig Technologies innovative platform addresses an unmet technology in the enormous electrophysiology marketplace. As medical care and treatments costs rise across the board, hospitals, doctors and healthcare professionals are looking to be more efficient and accurate in diagnosing their patients. Overall technology in this field is ripe for improvement and innovation and BioSig Technologies is positioning itself to take advantage by shortening procedure times and delivering more accurate patient diagnosis. By the end of 2017 the projected size of the US medical device market will reach $155 billion, and if BioSig Technologies can execute and successfully introduce their platform grabbing just a small slice of the pie, it may result in big returns for early investors.