BioSig Technologies Partners Mayo Clinic To Treat Arrhythmia
Zacks Investment Research | Dec 02, 2019 03:40AM ET
BioSig Technologies, Inc. (NASDAQ:BSGM) has announced that the company and its majority-owned subsidiary have inked three new patent and know-how license deals with Mayo Foundation for Medical Education and Research. Per the terms of the agreement, BioSig will start working on a new R&D product pipeline to support more advanced features of its first product, PURE EP System, and develop solutions for the treatment of autonomic nervous system disease.
Notably, BioSig had received the FDA approval for PURE EP in August 2018. The company started patient enrollment for its clinical trial of PURE EP on Nov 21, 2019.
The recent agreement paves the way for BioSig to strengthen its catheter ablation business, which is part of its electrophysiology arm, on a global scale.
About PURE EP
Electrophysiology (EP), a study of the propagation of electrical impulses throughout the heart, focuses on the diagnosis and treatment of arrhythmias. The PURE EP System is a non-invasive computerized system intended to analyze and store electrocardiographic as well as intracardiac signals for patients undergoing EP procedures in an EP laboratory.
Rationale Behind the Agreement
BioSig’s new product line includes hardware, software and algorithmic solutions that will be integrated into the PURE EP. The company also plans to utilize the licensed intellectual properties and products developed by Mayo Clinic over the past few years, through the FDA approval. These will, then, be manufactured on a large scale and subsequently commercialized.
BioSig claims to dedicate a major portion of its R&D efforts to develop sustainable breakthrough in medicines for the treatment of arrhythmia (irregular or abnormal heart beat). The company plans to dedicate more effort to understand the cause of arrhythmia and other associated conditions.
Recent Developments
BioSig announced its involvement and support in the launch of the Alliance for Advancing Bioelectronic Medicine (AABM), an independent network of professionals united to support bioelectronic medicine in November 2019.
In September, BioSig entered into a new licensing agreement with Mayo Clinic to develop a new product pipeline to support some of the more advanced features of PURE EP.
BioSig had conducted patient cases using PURE EP System at Greenville Memorial Hospital — part of Prisma Health System — in April. Further, in February, BioSig had successfully conducted first patient cases using PURE EP System.
Get The News You Want
Last December, the company had signed an agreement with Mayo Clinic to conduct First-in-Human studies using the PURE EP. In November 2018, BioSig collaborated with Texas Cardiac Arrhythmia Institute (TCAI) to conduct First-in-Human studies using the PURE EP.
Notably, BioSig has been partnering with Mayo Clinic since March 2017, when the company signed a 10-year collaboration agreement with the clinic.
Industry Prospects
Per a report by Zacks Investment Research
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