BioSig’s Division NeuroClear Technologies Signs a Research Agreement with the University of Minnesota
NeuroClear is set to commence experiments aimed at developing therapies for autonomic nervous system disease
Westport, CT, Dec. 18, 2020 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the “Company”), 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, today announced that the Company and its NeuroClear Technologies division signed a new research agreement with the University of Minnesota.
Under the terms of the agreement, the Company intends to launch a program to develop novel therapies to treat sympathetic nervous system disease. Due to launch in Q4 2020, the program studies are expected to form a foundation for developing a new platform technology to address disorders of the autonomic nervous system. NeuroClear intends to develop new intellectual properties and products, including new hardware, software, and algorithmic solutions, with the support of a tier 1 US-based manufacturing partner and take it through FDA approval, manufacturing, and commercialization. The R&D program will be run under the leadership of Richard W. Bianco, Ph.D., Professor, Director of Experimental Surgical Services (ESS), Department of Surgery in the University of Minnesota Medical School, John W. Osborn, Ph.D., Professor, Department of Surgery and Director of the Minnesota Consortium for Autonomic Neuromodulation (MCAN) in the University of Minnesota Medical School and Barry Keenan, Ph.D., Vice President of Engineering at NeuroClear.
“We are very pleased to commence a new research and development program with the accomplished team at the University of Minnesota. Our mission is to lead through innovation in bioelectronic medicine, and we are most impressed with the cutting-edge research work led by John and his colleagues. Our team made tremendous progress in the past twelve months, having identified several lucrative opportunities, onboarded a leading manufacturing partner, and developed a scientific proposal to drive this program forward. We are thrilled to begin this new chapter and look forward to reporting on our progress,” commented Kenneth L Londoner, Chairman, and CEO of BioSig Technologies, Inc.
“I am extremely excited about this strong collaboration between the University of Minnesota and NeuroClear Technologies. This agreement combines the rich expertise in autonomic neuromodulation, the 40-year track recorded of ESS in device development at the University of Minnesota, with NeuroClear’s mission to develop technology for recording and processing of biological signals specifically for treating the diseases of the autonomic nervous system. This aligns perfectly with the mission of MCAN.” said John W. Osborn, Ph.D.
“University of Minnesota is at the forefront of autonomic neuromodulation research. We believe that with their expertise, resources and collaboration, we can accelerate product development of new novel bioelectronic medicine devices,” commented Barry Keenan, Ph.D., Vice President of Engineering of BioSig Technologies, Inc.
The Company previously reported that it appointed John W. Osborn, Ph.D. as a Consultant on autonomic neuromodulation and raised $3.7 million in an initial seed round in August 2019.
About NeuroClear Technologies
Founded in November 2018, NeuroClear Technologies aims to address some of the biggest challenges in bioelectronic medicine, including, but not limited to, targeted nerve stimulation and a closed feedback loop system. NeuroClear intends to build upon the core competencies in recording and analyzing intracardiac, surface ECG and neuronal signals, which have been already validated by BioSig, and develop a dedicated product line to address and advance current therapies within several markets, such as cognitive disorders and nephrology.
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 EP (tm) 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.
Andrew Ballou BioSig Technologies, Inc. Vice President, Investor Relations 54 Wilton Road, 2nd floor Westport, CT 06880 aballou@biosigtech.com 203-409-5444, x133
Released December 18, 2020
