Minneapolis, MN, April 07, 2017 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company
developing the PURE EP(TM) System, a proprietary platform designed to address an unmet technology need for the $4 billion
electrophysiology (EP) marketplace, today announced the Company closed a private placement with proceeds of $4,349,953.50. Laidlaw
& Co (UK) Ltd. in New York served as placement agent.
The Company issued 2,899,974 common shares at a price of $1.50 per share and a half warrant with a 3-year expiration at a cash
exercise price of $1.50.
About BioSig Technologies
BioSig Technologies is a medical device company developing a proprietary technology platform designed to improve the $4 billion
electrophysiology (EP) marketplace (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(TM) System.
BioSig’s technology has been developed to address an unmet need in a large and growing market. The PURE EP System is a novel
cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during
procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to
improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular
Tachycardia.
Data from the 2016 HRI Global Opportunities in Medical Devices & Diagnostics report shows the global Electrophysiology (EP)
market revenues is expected to grow nearly 10% annually, from currently $4 billion to approximately $6 billion by 2020 with
accompanying procedure growth close to 10% annually, from 865,000 patients in 2015 to 1,350,000 in 2020. Procedure growth in
the United States alone is projected at an 11.0% annual rate, from 250,000 in 2015 to 422,000 in 2020; accompanied by an 11.7%
growth in revenues, from $1.85 billion in 2015 to $3.220 billion in 2020.
BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance and CE Mark 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 and Mount Sinai
Hospital in NY. The company continues to perform research and development studies in the form of an Advanced Research Program at
Mayo Clinic which began in June 2016. Other prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute and
UH Case Medical Center in Cleveland also play an important role in the PURE EP technology.
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) our inability to manufacture our
product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining
financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key
executives or scientists; and (v) difficulties in securing regulatory approval to market our 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 web
site 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
Investor Relations: Lora Mikolaitis BioSig Technologies, Inc. lmikolaitis@biosigtech.com 310-948-7200 Robert Haag IRTH Communications BSGM@irthcommunications.com 866-976-4784
