BioSig Technologies Opens Business Office in Norwalk, CT
New Location to Serve as the Company’s East Coast Business and Operations Hub
Santa Monica, CA, Oct. 31, 2018 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ: BSGM), a medical device company developing a proprietary biomedical signal processing platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, today announced that the Company opened a new office in Norwalk, Connecticut.
The new office will complement the Company’s headquarters in Los Angeles, CA and administration and finance office in Austin, TX. Norwalk office becomes the Company’s first location on the East Coast and will serve as the commercialization, sales support, investor relations and business development location.
Despite being the third smallest state, Connecticut has the highest per-capita income in the United States1. Due to the state’s historically attractive business climate and its close proximity to New York, NY and Boston, MA, Connecticut had 19 companies on Fortune 500 list in 2016, including Aetna and Xerox2. The state was also home to one of the most successful medical technology companies, US Surgical Corporation.
“Norwalk, CT offers us a strategic base on the East Coast, which will provide key support for both our capital formation and business and clinical development. Norwalk’s proximity to JFK and New York City is also a big plus for our global shareholder base. As we progress towards first installations of our PURE EP(tm) System in some of the busiest medical centers in the country, we are confident that our new business hub will deliver significant value in one of the key locations for medical technology,” commented Kenneth L. Londoner, Chairman and CEO of BioSig Technologies, Inc.
BioSig received FDA 510(k) clearance for its first product, PURE EP(tm) System on August 8, 2018. The Company began trading on the Nasdaq Capital Markets on September 21, 2018 under the ticker symbol BSGM.
About BioSig Technologies
BioSig Technologies is a medical technology company developing a proprietary biomedical signal processing platform designed to improve the electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Los Angeles-based BioSig Technologies is preparing to commercialize its PURE EP™ System. The technology has been developed to address an unmet need in a large and growing market.
The Company’s first product, PURE EP™ System, is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision- making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and potentially deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia. BioSig has partnered with Minnetronix on technology development and has received FDA 510(k) clearance for the PURE EP™ System in August 2018.
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) our inability to manufacture our products and product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) 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 “Highest wages in East, lowest in South”, Stephen Ohlemacher, USA Today, November 18, 2010.
2 “Connecticut has 19 companies on Fortune 500 list”, Hartford Courant, June 9, 2016.
Contact: Natasha Drapeau BioSig Technologies, Inc. Executive Vice President 12600 Hill Country Blvd R-275 Austin, TX 78738 firstname.lastname@example.org 512-329-2643
Released October 31, 2018