BioSig Tech Raises $4 Million in Securities Offering

BioSig's Pure EP System records and displays cardiac signals.

BioSig Technologies Inc., a medical device firm based in West Los Angeles, has raised $4 million during a securities sale, according to a securities filing.

BioSig sold more than $4 million to 72 investors during a $10 million offering, according to an Aug. 28 filing with the U.S. Securities and Exchange Commission.

The sale came nearly two weeks after the nine-year-old firm announced closing a private placement of nearly $4.3 million to help commercialize its Pure EP System, a biomedical device that helps cardiologists perform catheter ablation, a procedure that can lessen arrhythmias.

The device received clearance from the U.S. Food and Drug Administration this month.

BioSig Technologies has performed 12 pre-clinical studies of its Pure EP at the Mayo Clinic in Minnesota, UCLA Medical Center and Mount Sinai Hospital in New York. It signed a 10-year licensing agreement with Mayo Clinic last year for its joint development.

This month, it announced its intention to uplist to the Nasdaq Stock Exchange.

Health business reporter Dana Bartholomew can be reached at dbartholomew@labusinessjournal.com. Follow him on Twitter @_DanaBart.

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