BioSig Technologies, a company specialising in intra-cardiac signal visualisation for electrophysiology (EP) procedures, has announced its intention to acquire the assets of medical technology company Neuro-Kinesis Corporation (NKC).
The parties have executed a non-binding letter of intent (LOI) which confirms BioSig’s interest in the proposed acquisition.
The transaction will involve payment through the issuance of BioSig’s common stock to NKC shareholders.
NKC will also contribute at least $2.5m to BioSig at closing, with the potential to provide up to $6m of unrestricted cash.
The acquisition process will include extensive due diligence, expected to continue through the end of the year.
BioSig CEO Anthony Amato said: “We feel we have the ability to leverage our improving balance sheet, along with our expertise, to expand our product portfolio beyond PURE EP.
“With this in mind, we will continue to evaluate opportunities with a focus on new and exciting innovative technological platforms.”
US-based NKC is advancing medical technology with its patented catheter-based diagnostic system designed to overcome the limitations of current EP mapping art.
The Huygens catheter and the Proteus robotic arm form the centrepieces of this technology.
These technologies integrate advanced bio-data acquisition with enhanced AI and micro-engineering to improve surgical outcomes for patients.
The Huygens catheter is designed to enhance signal detection resolution while the Proteus robotic arm offers a computer-assisted robotic guidance system for EP catheters.
NKC, upon receiving regulatory approval, plans to market its consumables technology across various lucrative markets.
Neuro-Kinesis CEO Josh Shachar said: “Joining forces will enable us to accelerate the market entry of our breakthrough technology for the diagnostic and therapeutic treatment of complex cardiac arrhythmias.
“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 arrhythmias lie.”
