BioSig Technologies has signed a non-binding letter of intent (LOI) to acquire the assets of Neuro-Kinesis (NKC), a firm specialising in developing smart tools for electrophysiology (EP) procedures.
The consideration will be paid through the issuance of shares of BioSig Technologies’ common stock to Neuro-Kinesis’ shareholders.
Additionally, at closing, the Los Angeles-based Neuro-Kinesis is expected to provide BioSig Technologies with a minimum of $2.5m in unrestricted cash, with the possibility of up to $6m.
BioSig Technologies CEO Anthony Amato said: “The Company’s management team and board of directors are strategically aligned to continue to execute attainable goals for 2024.
“We feel we have the ability to leverage our improving balance sheet, along with our expertise, to expand our product portfolio beyond PURE EP.”
Neuro-Kinesis is a medical technology company developing a patented catheter-based diagnostic system to overcome the limitations of current EP mapping technologies.
Its flagship products include the Huygens Catheter, which enhances signal detection resolution, and the Proteus Robotic Arm, a computer-assisted guidance system.
The Proteus Robotic Arm is a medical-grade robotic system designed to improve the accuracy and consistency of anatomical target acquisition during EP procedures such as mapping and ablation.
In addition, the Huygens Catheter enables superior signal processing for effective arrhythmia treatment.
Once regulatory approval is obtained, Neuro-Kinesis plans to market its consumable technologies in various markets.
Neuro-Kinesis has a portfolio of 47 issued patents for its Huygens Catheter and Proteus Robotic Arm technologies.
Additionally, the medical technology company holds nearly 200 more patents related to its other innovations within the Smart Surgical Device sector.
Furthermore, Neuro-Kinesis aims to advance automated EP mapping systems that leverage artificial intelligence (AI) applications. These systems will be designed to analyse data from the Huygens Catheter and the Ensite-X mapping station in real-time.
Neuro-Kinesis CEO Josh Shachar said: “For the last couple of decades, EP physicians have relied on an equal amount of historical results: the bioelectric voltage realms they can measure, and intuitive instincts they have learned to guide their healing art.
“The Huygens Catheter should allow them to finally be able to visualise the low-voltage landscape of the heart, where many believe the important information related to complex arrythmias lie.”
