BioSig Technologies has contracted with Minnetronix to develop the first version of its Pure EP system, according to a letter to shareholders disclosed Friday.
BioSig, based just outside Minneapolis, is developing a cardiac signal acquisition and display system which is designed to assist electrophysiologists in making clinical decisions for patients with abnormal heart rates and rhythms, including atrial fibrillation and ventricular tachycardia.
BioSig said that the Pure EP system has entered its 7th pre-clinical trial to further evaluate the capabilities of the system and that St. Paul, Minn.–based Minnetronix will help the company design and develop the prototype.
The company is pursuing 510(k) clearance from the FDA and CE Mark approval in the European Union.
“I am extremely pleased with the recent achievements that we have made, and believe that now is an ideal time to provide an in-depth overview of the Company to the investment community,” president and CEO Gregory Cash said in prepared remarks. “Since inception, our management has been focused on building a strong platform of best-in-class technologies coupled with strategic industry relationships. I feel that we are now well positioned to leverage those assets within the rapidly growing medtech marketplace. I have no doubt, that the introduction of BioSig’s Pure EP System will be a significant advancement in addressing the multi-billion dollar electrophysiology market. Going forward, we are committed to commercializing this product on a global scale, uplisting to a more senior exchange and enhancing overall shareholder value.”
In January last year, Minnetronix raised $20 million in equity capital through a minority investment from Altaris Capital Partners. The investment marked the 1st time Minnetronix has raised outside equity since its founding 20 years prior.
Minnetronix develops electronic and electromechanical devices for the medical device industry. The company has brought technology and products to the cardiovascular, oncology, pulmonary, neurology and wound care markets.
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