BioSig AI Sciences Receives $2.2 Million in Seed Funding to Advance Development of Artificial Intelligence Applications

Deal to create additional value through subsidiary to advance Artificial Intelligence strategy without dilution to BioSig Technologies Shareholders

Westport, CT, July 25, 2023 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the “Company”), a medical technology company delivering unprecedented accuracy and precision to intracardiac signal visualization, today announced the completion of a seed funding round raising $2.2 million for BioSig AI Sciences, Inc. (“BAIS”), a subsidiary of the Company. BAIS intends to join BioSig’s world class technology team with external partners and collaborators to advance the research and development of an artificial intelligence (“AI”) medical device platform.

“The integration of AI and machine learning in electrophysiology devices is powering substantial expected growth for this market, and we intend to be a leader in developing applications of these technologies,” said Ken Londoner, Chairman, CEO and Founder of BioSig. “Our current platform and relationships have created interest and excitement and our development team are making demonstrations for early adopters” added Londoner.

BioSig and Reified Labs’ initial AI collaboration, which began in 2019, has resulted in multiple patent applications to date and a research publication on AI-enhanced electrocardiogram lead placement mapping. The renewed collaboration, BAIS, is also looking into the application of Chat-GPT like large language models and how they apply to helping our hospital partners leverage such technology to solve the myriad of challenges they currently face.

According to Data Bridge Market Research, the market for artificial intelligence 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 Delaware C Corporation subsidiary of BioSig, is developing AI solutions for the hospital marketplace utilizing structured, semi-structured, and unstructured data.

About BioSig Technologies
BioSig Technologies is an advanced medical technology company bringing never-before-seen insights to the treatment of cardiovascular arrhythmias. Through collaboration with physicians, experts, and healthcare leaders across the field of electrophysiology (EP), BioSig is committed to addressing healthcare’s biggest priorities—saving time, saving costs, and saving lives.