BioSig Technologies Initiates Technology Development with Minnetronix
Minneapolis, MN, Feb. 22, 2016 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: BSGM) today announced it has signed an agreement to initiate development of its PURE EPTM high fidelity cardiac electrophysiology (EP) signal acquisition and analysis system with Minnetronix, an award-winning medical technology development and manufacturing firm.
Greg Cash, President and Chief Executive Officer of BioSig Technologies, stated, “We are very pleased to begin this relationship with Minnetronix, who has proven to be a leader in taking innovative medical technology through the development process and into manufacturing in a timely manner. It is our goal to help patients through positively impacting the diagnosis and treatment of complex cardiac arrhythmias as soon as we possibly can.”
“We are excited to work with an advanced cardiac electrophysiology company like BioSig,” said Jeremy Maniak, Minnetronix Chief Operating Officer. “Minnetronix has developed numerous technologies in the electrophysiology field, including mapping and ablation, which positions us well to bring leading-edge technologies like the PURE EP System to the market quickly.”
About BioSig Technologies
BioSig Technologies is a medical device company that is developing a proprietary technology platform designed to improve the $3 billion EP marketplace1 (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP System.
The PURE EP System is a surface electrocardiogram and intracardiac multichannel signal acquisition and analysis system designed to assist electrophysiologists in making clinical decisions in real-time by acquiring and displaying high-fidelity cardiac signal recordings and providing clarity of data which may be used to guide the electrophysiologists in identifying ablation targets - areas of tissue to treat that otherwise create a heart rhythm disturbance (arrhythmia).
Analysts forecast the global market for EP devices will grow at a 12.1 percent compound annual growth rate, from $2.5 billion in 2012 to $5.5 billion by 20191, making it one of the fastest growing medical device segments. Just in the US, the number of Atrial Fibrillation (AF) and Ventricular Tachycardia (VT) arrhythmia ablations is forecast to grow at 10.5 percent from 2012 to 20172.
BioSig intends to seek FDA 510(k) clearance for the PURE EP System. The Company has achieved proof of concept validation through UCLA labs, and has performed pre-clinical studies at the Mayo Clinic in Minnesota. The Company is collaborating with several of the nation's most prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute, UCLA Cardiac Arrhythmia Center, and Mayo Clinic.
1Electrophysiology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019
2HRI 2013 "Global Opportunities in Medical Devices & Diagnostics" report; triangulation of multiple sources; AF includes left atrial tachycardia, left WPW, left atrial flutter.
About Minnetronix
Minnetronix is a medical technology and innovation company with deep expertise in electronic and electromechanical devices. Founded in 1996, the company creates new technologies and therapies that solve unmet clinical and business needs for patients and medical device companies. Minnetronix is FDA Registered and ISO 13485 Certified.
Contact: Investor Relations: Brian McLaughlin BioSig Technologies, Inc. bmclaughlin@biosigtech.com 917-370-9817
Released February 22, 2016
