HeartSciences Reports Third Quarter Fiscal 2024 Financial Results - Seite 2

Andrew Simpson, CEO of HeartSciences, commented, "Our vision is that AI-ECG will transform cardiovascular medicine by providing a much more effective tool for heart disease screening in front-line healthcare settings. Heart disease represents the most significant disease burden and cost in healthcare and is the leading cause of death. Today, the major challenge is early identification, as heart disease is only generally symptomatic at an advanced stage which, in turn, negatively affects patient health and increases treatment costs.  Our aim is to ensure HeartSciences is a leader in the AI-ECG market.”

“We recognize the importance of operational execution and getting to market as quickly as possible. Since the end of Q2 FY2024, we have successfully completed a series of actions that have materially strengthened the Company, placing us in a far better position than ever before. We have significantly improved our financial position and cash runway, alleviating many of the operational and financial constraints we faced in 2023, enabling us to focus on key operational milestones,” added Mr. Simpson.

“We licensed a broad range of AI-ECG algorithms and IP from Mount Sinai for key cardiovascular indications. We expect this will save years of R&D and millions of dollars in data acquisition and algorithm development costs as well as providing us with the ability to develop a AI-ECG cloud-platform in addition to the MyoVista.” continued Mr. Simpson.

“We also materially bolstered our team through key internal and external consulting hires, as well as making important additions to our scientific advisory board to ensure more effective regulatory progress. Finally, we saw continued expansion of our extensive patent portfolio amidst a regular flow of positive developments including: (i) the establishment of a screening program for Irish Garda (police) officers in Ireland using MyoVista; (ii) recent publication of a study to estimate the health economic impact of the AI-ECG algorithm intervention to detect low ejection, which aids in establishing appropriate reimbursement rates; and (iii) recent peer-reviewed publication demonstrating that in screening of diabetic patients for heart disease using MyoVista technology was superior to existing standards-of-care.  We are off to an exciting start to 2024 and look forward to diligent progress on our targeted initiatives to bring AI-ECG to the clinical community.” Mr. Simpson concludes.