Biotricity Inc. (BTCY), a medical diagnostic and consumer healthcare technology company that delivers innovative, biometric remote monitoring solutions, provided operational updates for its fiscal 2018 first quarter.
The Company’s prominent product, Bioflux, is a remote patient monitoring device that monitors a patient’s ECG in real-time, constantly analyzing and collecting data on the device and periodically uploading to the cloud via embedded cellular technology. With Bioflux generating revenue, the Company is now focused on sales growth and developing its future product portfolio, including the next generation of Bioflux, which will incorporate cloud-based Artificial Intelligence, improving diagnostic accuracy and efficiency. The industrial design requirements for Bioflux 2.0 have been finalized, and the Company hopes to complete development and prototyping, and file a second 510(k) application with the FDA, between the end of Q4 and early 2019.
Biotricity is also developing its Biolife product, with prototypes expected to be available between the end of Q4 and early 2019. Biolife is a personal heart monitor for individuals who are either at risk or already diagnosed with cardiovascular disease (CVD). The monitor will provide individuals with clinical-grade information pertaining to their ECG, respiration, physical activity, calorie burn, core body temperature, and other lifestyle management capabilities. After analyzing the data, Biolife will provide actionable feedback so that individuals can better manage their heart condition and improve overall quality of life. Biolife is an extension of Bioflux, offering a unique medical grade remote patient monitoring solution for personal use.
“Now that the first generation of our Bioflux device is out in the market…we are excited to apply our technology to new remote patient monitoring solutions,” said Mr. Al-Siddiq, Founder and CEO of Biotricity. “We are currently in discussions with industry thought leaders to expand our scientific and medical advisory board to ensure that we have the best possible resources to help us enter new markets. We expect to have future announcements regarding this.”