In this episode of the CEOLIVE Investor Profile series we’re joined by Ken Londoner, Chairman, and CEO of BioSig Technologies, ticker BSGM.
BioSig Technologies, Inc. is a Minnesota-based medical device company developing a proprietary technology platform designed to improve the rapidly growing multi-billion dollar electrophysiology (EP) marketplace.
In the interview, Ken gives an overview of the Electrophysiology or EP Market and talks about its expected growth over the next decade. He also discusses BioSig’s recent announcements about nearing commercialization for PURE EP and new additions to the BioSig teamAbout BioSig Technologies
BioSig Technologies is a medical device company that is developing a proprietary technology platform designed to improve the $4 billion EP marketplace (1) (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP™ System.
The PURE EP System is a surface electrocardiogram and intracardiac multichannel signal acquisition and analysis system engineered to assist electrophysiologists in making clinical decisions in real-time by acquiring and displaying high-fidelity cardiac signal recordings and providing clarity of data which may be used to guide the electrophysiologists in identifying ablation targets – areas of tissue to treat that otherwise create a heart rhythm disturbance (arrhythmia).
Analysts forecast the global market for EP devices will grow at a 12.1 percent compound annual growth rate, from $2.5 billion in 2012 to $5.5 billion by 2019(1), making it one of the fastest growing medical device segments. Just in the US, the number of Atrial Fibrillation (AF) and Ventricular Tachycardia (VT) arrhythmia ablations is forecast to grow at 10.5 percent from 2012 to 2017(2).
BioSig has partnered with Minnetronix on technology development and is working toward a FDA 510(k) clearance for the PURE EP System. The Company has achieved proof of concept validation and tested its prototype at the University of California at Los Angeles (UCLA) Cardiac Arrhythmia Center; and, has performed pre-clinical studies at Mayo Clinic in Minnesota. Additionally, an Advanced Research Program at Mayo Clinic will launch in June 2016. The Company is also collaborating with other prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute, UH Case Medical Center in Cleveland, Ohio and Mount Sinai Medical Center in New York.
(1) Electrophysiology Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019
(2) HRI 2013 “Global Opportunities in Medical Devices & Diagnostics” report; triangulation of multiple sources; AF includes left atrial tachycardia, left WPW, left atrial flutter.
Forward Looking Statements
This CEOLIVE.TV video interview contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company’s contracts, the Company’s ability to raise sufficient development and working capital, the Company’s liquidity position, the Company’s ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all.
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Also check out this great article from Seeking Alpha by leading Biotech Analyst, Jason Napadano. To read that full article please visit http://seekingalpha.com/article/3960531-biosig-technologies-positioned-change-electrophysiology-market.