Greetings and Happy New Year! As a new year begins, we at BioSig Technologies are heading into 2018 with a great deal of optimism. We receive a lot of questions from investors and partners alike asking about the company and industry trends. To help keep you better informed, we plan to launch this new communication forum, where I will personally update the BioSig community. This new medium will serve as a direct line of communication from myself and other team members and will better allow us to keep readers informed of all topics within the medtech and investment industries and how this can relate to BioSig.
Please allow me to introduce myself. My name is Ken Londoner and I am the Founder, Chairman and CEO of BioSig Technologies, Inc. I became one of the leading growth stock investors in the 90s with more than $3.5 billion in assets under management through J.W. Seligman & Co. Having supported emerging growth companies for over 25 years as a professional investor, I became an entrepreneur in 2002. Since that time, I have built and taken five innovative companies public (NYSE and Nasdaq). Among many things, this experience has taught me the ability to recognize true potential of an opportunity, which is both global and scalable, and the importance of attracting talent both human capital and KOL support. I can truly say that our team at BioSig is one of the most dedicated, and BioSig is - one of the most exciting companies with which I have been associated with.
I’ve had considerable success investing in medical technology, and I’m always on the lookout for new trends or accomplishments within the industry. Our vision at BioSig is simple: to further develop biomedical signal processing technology, initially targeting clinical effectiveness in our PURE EPTM product launching in 2018 and ultimately extending into the rapidly growing field of bioelectronic medicine.
I believe that 2018 will be an exciting year for us. BioSig is well-positioned for success in the future with strengths in the areas of physical and intellectual property, financial and organizational resources, international expansion and corporate social responsibility. As we move toward commercialization, you will notice us taking steps to shore up manufacturing, distribution and our 510(k) submission to the FDA, which we expect to enter during the first half of 2018. These strengths combined with our core competencies will enable us to shepherd BioSig toward success.
Investment returns in the Medtech sector has been dynamic in 2017. One of our direct industry comparisons is iRhythm Technologies, Inc. (NASDAQ: IRTC), a digital healthcare company, which focuses on the provision of ambulatory electrocardiogram, or ECG, monitoring for patients at risk for arrhythmias in the United States. The company had a series of positive business development news in 2017, which has resulted in substantial appreciation of the value of the iRhythm stock. We believe that we are on a developmental track that runs parallel to them with what we see as greater and broader applications. Our technology has the potential to offer greater clinical and economic impact, both in the U.S. and internationally in our opinion.
Currently we’re focused on several items that are expected to enhance the value of our company. As stated previously, we expect to submit the PURE EPTM System for clearance in the United States with the FDA processes through our 510(k) application in the coming months. 510(k) applications are typically faster than the phase I, II and III processes that drug development companies go through. This is one of the reasons I myself was drawn to BioSig’s products as an investor.
Additionally, we’re continuing to attract top talent. We were particularly happy to welcome Steve Chaussy as our new Chief Financial Officer. Steve has been one of the longstanding supporters of our company, and we could not have been more pleased with his decision to join the company on the full-time basis. We have also welcomed Chuck Austin and his team at JK Advisors. Chuck’s remarkable career at Johnson & Johnson, his extensive experience with executive leadership running Ethicon Endo-Surgery then global supply chain and successful track record in his success with scaling up complex operations is of tremendous value to our company. Chuck will become an integral part of our team, and we look forward to working with him and his partners.
Our collaborations with Mayo Clinic and Sherpa Technology Group also bear watching in 2018. Both are the best in what they do and we will soon demonstrate the value of these relationships.
In closing, I’d like to thank you for your interest in the company, and I look forward to providing additional updates in the near future.
- Ken Londoner