Benzinga | Jul 6, 2021 09:44AM EDT

Mayo Clinic Purchases BioSig's PURE EP for use at its Phoenix Location

According to a recently filed 8-k, BioSig Technologies, Inc. (NASDAQ:BSGM) received a new purchase order from the Mayo Foundation for medical education and research.

The institution commenced the evaluation of the PURE EP(tm) System in April 2021. Under the terms of the commercial transaction, the Foundation is acquiring the PURE EP System for clinical use at Mayo Clinic Phoenix Campus in Arizona. Previously, the institution acquired multiple PURE EP Systems for its Florida and Minnesota Mayo Clinic campuses. To date, more than 1,000 patient cases have been conducted using the PURE EP System by 52 physicians across nine clinical sites.

The company is excited about the new sale to the Mayo Clinic and is confident that this denotes the efficacy and potential of its technologies.

In fact, it's not just the Mayo Clinic that has shown interest in electrophysiology. The industry has attracted attention and investment from other major players in technology and healthcare, such as Verily Life Sciences, Medtronic (NYSE:MDT) and Johnson & Johnson (NYSE:JNJ).

The PURE EP System and the Bioelectronic Medicine Market

BioSig is also exploring how PURE EP's proprietary signal processing software can also be applied to the rapidly growing field of Bioelectronic Medicine. Utilizing the capabilities of its proprietary technology, the company is developing a novel nerve-sensing technology that can optimize existing neurostimulation therapies and hopefully unlock novel solutions to diagnose and treat neurological disorders.

According to IDTechEx, bioelectronic medicine is a $22.6 billion market today, projected to reach more than $60 billion in 2029.* The most well-established subfield within bioelectronic medicine is cardiac rhythm management, which includes pacemakers and other devices that monitor and regulate heart rhythm. However the field has witnessed major advancements in recent years, including emerging technologies like vagus nerve stimulators and implantable neurostimulators.

Source Bioelectronic Medicine 2019 -- 2029, IDTechEx, 2018.

How Bioelectronic Medicine Works

Bioelectronic medicine explores how targeted electrical signals can harness the body's natural mechanisms to diagnose and treat a range of diseases. The field represents not just a narrow category of medical devices, but an entire approach to detecting and treating disease -- it uses electrical pulses and the body's natural mechanisms as an adjunct or alternative to drugs and medical procedures.

BioSigis hopeful that their advancements in biomedical signal processing will not only elevate the standard of electrophysiology, but also improve diagnosis and treatment for a range of diseases with unmet clinical needs.

Visit https://www.biosig.com/ for further information about the company and its PURE EP System.

BioSig is a partner of Benzinga. The information in this article does not represent the investment advice of Benzinga or its writers.