BioSig AI Sciences Achieves Infrastructure and Technology progress in Development of Generative AI Platform for Hospitals
24 Agosto 2023 - 11:30AM
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”), a medical technology company delivering unprecedented
accuracy and precision to intracardiac signal visualization,
today is providing an update since the launch of BioSig’s
established technology team with external partners and
collaborators to advance the research and development of an
artificial intelligence (“AI”) medical device platform.
On July 20, 2023, we announced the inclusion of BioSig AI
Sciences, Inc., a majority owned subsidiary of the Company
(“BAIS”), in Nvidia’s Inception partnership program, providing our
team access to engineering and technology support. On July 23,
2023, BAIS completed its seed round of funding of $2.2 million. The
funding valued the majority owned subsidiary at $15
million.
In less than a month since closing BAIS’s initial funding, it
has been meeting with numerous hospital customers at the highest
levels of leadership. BAIS has identified numerous opportunities to
bring our proprietary AI platform to market. In addition, BAIS has
recently signed a collaboration agreement with a leading global
technology organization who will be building important data
infrastructure, enabling a scaling of the platform in high-volume,
data intensive hospital centers.
Kenneth Londoner, Chairman & CEO of BioSig, “In my 30+ year
career in and around the technology marketplace, I have never seen
more compelling growth opportunities than what I am seeing
today. The leading hospitals are looking for entrepreneurial
and agile emerging market participants to test and adopt AI based
solutions. Given our relationships and ramp up of commercial
placements of PURE EP ™ platform technology, combined with our
external technology relationships and internal capabilities, we
expect to demonstrate significant progress in 2023 and beyond.”
According to Data Bridge Market Research, the market for AI in
healthcare, estimated at $9.6 billion in 2022, is expected to reach
$272.9 billion by 2030, at a CAGR of 51.9% during the forecast
period.1
About BAIS BAIS, a majority-owned subsidiary of
BioSig, is developing AI solutions for the hospital marketplace
utilizing structured, semi-structured, and unstructured data.
About BioSig Technologies BioSig
Technologies is a medical technology company focused on
deciphering the body’s electrical signals, starting with heart
rhythms. By leveraging a first of its kind combination of hardware
and software, we deliver unprecedented cardiac signal clarity,
ending the reliance on ‘mixed signals’ and ‘reading between the
lines.’ Our platform technology is addressing some of healthcare’s
biggest challenges—saving time, saving costs, and saving lives.
The Company’s product, the PURE EP™ Platform, an FDA 510(k)
cleared non-invasive class II device, provides superior, real-time
signal visualization allowing physicians to perform highly targeted
cardiac ablation procedures with increased procedural efficiency
and efficacy.
An estimated, 14.4 million Americans suffer from cardiac
arrhythmias, and the global EP market is projected to reach $16B in
2028 with an 11.2% growth rate.2
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.
References
1) Data Bridge Market Research. Global Artificial Intelligence
in Healthcare Market – Industry Trends and Forecast to 2030.
January 2023.
2) Global Market Insights, Inc. (2022, March).
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
55 Greens Farms
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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