BioSig AI Sciences leverages infrastructure and technology advancements in development of Generative AI Platform for Hospitals
WESTPORT, CT, August 24, 2023 (GLOBE NEWSWIRE) —
BioSig Technologies, Inc.
(NASDAQ: BSGM) (the “Biosig” or the “Company”), a medical technology company providing unprecedented accuracy and precision in intracardiac signal visualization, today launched a partnership with external partners and collaborators to advance Biosig’s established technology team. Providing an update since. Research and development of an artificial intelligence (“AI”) medical device platform.
On July 20, 2023, we entered into Nvidia’s Inception partnership program with BioSig AI Sciences, Inc., a majority-owned subsidiary of the company (“BAIS”). Announced the inclusion of, which gives our team access to engineering and technology support. On July 23, 2023, BAIS closed its seed round of funding of $2.2 million. The funding valued the majority-owned subsidiary at $15 million.
Less than a month after BAIS’s initial funding closed, it is meeting several hospital customers at the highest levels of leadership. BAIS has identified several opportunities to bring our proprietary AI platform to market. In addition, BAIS recently signed a collaboration agreement with a leading global technology organization that will build critical data infrastructure, enabling scaling of the platform across high volume, data intensive hospital centers.
BioSig President and CEO Kenneth Londoner said, “In my 30+ year career in and around the technology market, I have never seen a more attractive growth opportunity than what I am seeing today. Leading hospitals are looking for enterprising and proactive emerging market participants to test and adopt AI based solutions. Given the growth in our relationships and commercial placement 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, which is 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 market using structured, semi-structured and unstructured data.
Biosig Technologies
is a medical technology company focused on understanding the body’s electrical signals, starting with the heart’s rhythm. By leveraging a first-of-its-kind combination of hardware and software, we deliver unprecedented cardiac signal clarity, eliminating reliance on ‘mixed signals’ and ‘reading between the lines’. Our platform technology is solving some of healthcare’s biggest challenges – saving time, saving costs and saving lives.
The company’s product, the PURE EP™ platform, is an FDA 510(k) cleared non-invasive Class II device, which provides superior, real-time signal visualization, enabling clinicians to perform highly targeted cardiac ablation with increased procedural efficiency and efficacy. processes are allowed.
According to an estimate, 14.4 million Americans suffer from cardiac arrhythmias, and the global EP market is projected to reach $16 billion in 2028, with a growth rate of 11.2%.
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forward-looking statements
This press release contains “forward-looking statements”. Such statements are preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “estimates,” “projects,” “predicts,” “estimates,” “targets,” “believes” Words like “can come. ,” “expectations,” “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 as a result, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, the risks and uncertainties of (i) the geographic, social and economic impact of COVID-19 on our ability to operate our business and raise capital in the future if needed, (ii) our inability to manufacture our products and product candidates on a commercial scale either on our own or in collaboration with third parties (iii) difficulties obtaining financing on commercially reasonable terms; (iv) changes in the size and nature of our competition; (v) the loss of one or more key executives or scientists; and (vi) our products and services. Difficulties in obtaining regulatory approval to market the candidates. More detailed information about the Company and risk factors that could 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 included. Report on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website
http://www.sec.gov
, The company undertakes no obligation to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Reference
1) Data Bridge Market Research. Global Artificial Intelligence in Healthcare Market – Industry Trends and Forecasts 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
