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BSGM - Biosig Technologies Inc News Story

$4.35 -0.2  -4.8%

Last Trade - 12/04/21

Sector
Healthcare
Size
Small Cap
Market Cap £106.0m
Enterprise Value £86.0m
Revenue £n/a
Position in Universe 4849th / 6825

BioSig and Mayo Clinic Collaborate on New R&D Program to Develop Transformative AI and Machine Learning Technologies for its PURE EP™ System

Tue 2nd February, 2021 1:00pm
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Westport, CT, Feb. 02, 2021 (GLOBE NEWSWIRE) --
* Global market for AI in healthcare is estimated to reach $45.2 billion by
2026
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the “Company”),
a medical technology company commercializing an innovative signal processing
platform designed to improve signal fidelity and uncover the full range of ECG
and intra-cardiac signals, today announced a strategic collaboration with the
Mayo Foundation for Medical Education and Research to develop a
next-generation AI- and machine learning-powered software for its PURE EP™
system.

The new collaboration will include an R&D program that will expand the
clinical value of the Company’s proprietary hardware and software with
advanced signal processing capabilities and aim to develop novel technological
solutions by combining the electrophysiological signals delivered by the PURE
EP™ and other data sources. The development program will be conducted under
the leadership of Samuel J. Asirvatham, M.D., Mayo Clinic’s Vice-Chair of
Innovation and Medical Director, Electrophysiology Laboratory, and Alexander
D. Wissner-Gross, Ph.D., Managing Director of Reified LLC.

The global market for AI in healthcare is expected to grow from $4.9 billion
in 2020 to $45.2 billion by 2026 at an estimated compound annual growth rate
(CAGR) of 44.9%(1). According to Accenture, key clinical health AI
applications, when combined, can potentially create $150 billion in annual
savings for the United States healthcare economy by 2026(2).

“AI-powered algorithms that are developed on superior data from multiple
biomarkers could drastically improve the way we deliver therapies, and
therefore may help address the rising global demand for healthcare,”
commented Kenneth L Londoner, Chairman and CEO of BioSig Technologies, Inc.
“We believe that combining the clinical science of Mayo Clinic with the
best-in-class domain expertise of Dr. Wissner-Gross and the technical
leadership of our engineering team will enable us to develop powerful
applications and help pave the way toward improved patient outcomes in
cardiology and beyond.”

“Artificial intelligence presents a variety of novel opportunities for
extracting clinically actionable information from existing
electrophysiological signals that might otherwise be inaccessible. We are
excited to contribute to the advancement of this field,” said Dr.
Wissner-Gross.
 
 BioSig announced its partnership with Reified LLC, a provider of advanced
artificial intelligence-focused technical advisory services to the private
sector in late 2019. The new research program builds upon the progress
(https://www.globenewswire.com/Tracker?data=YOgREQYBzZZ6sUUDJWuv4N2kA3jzPWQsBGOKGnvXsrdg9F4sOeJETPmtzV5O97nHi8amL1ZNsectsJzOc6Oi0rYFSJz5Tt7auOqKRy2UdCeefC4PHbD10rWEIRBzdNdMBsRmcUd5OEvvjdK0qfn7EhrQ4oYaXUzllL2iztpK2wzkit1Y0_PqxuagHzJJuBru)
achieved by this collaboration in 2020, which included an abstract for
‘Computational Reconstruction of Electrocardiogram Lead Placement’
presented during the 2020 Computing in Cardiology Conference in Rimini, Italy,
and the development of an initial suite of electrophysiological analytics for
the PURE EP™ System.

BioSig signed a 10-year collaboration agreement with Mayo Clinic in March
2017.  In November 2019, the Company announced that it signed three new
patent and know-how license agreements with the Mayo Foundation for Medical
Education and Research.

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 EPä 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.

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. 



(1) Artificial Intelligence in Healthcare Market with COVID-19 Impact Analysis
by Offering, Technology, End-Use Application, End User and Region – Global
Forecast to 2026; Markets and Markets

(2) Artificial Intelligence (AI): Healthcare’s New Nervous System
https://www.accenture.com/us-en/insight-artificial-intelligence-healthcare%C2%A0



Andrew Ballou
BioSig Technologies, Inc. 
Vice President, Investor Relations 
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133



(https://www.globenewswire.com/NewsRoom/AttachmentNg/c173d8f8-007c-446f-a74c-dc4fc3ad1512)



GlobeNewswire, Inc. 2021
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