SOURCE: BioSig Technologies Inc

BioSig Technologies Inc

February 05, 2015 08:00 ET

Jeffrey F. O'Donnell, Sr. Rejoins BioSig Technologies' Board of Directors

Appointed as Chairman of the Compensation Committee

LOS ANGELES, CA--(Marketwired - Feb 5, 2015) - BioSig Technologies (OTCQB: BSGM), a medical device company that is developing its proprietary PURE EP™ technology platform designed to improve the clinical outcomes of electrophysiology (EP) procedures, today announced Jeffrey F. O'Donnell, Sr. has rejoined BioSig's Board of Directors and will serve as Chairman of the Compensation Committee. Mr. O'Donnell sat on BioSig's Board of Directors from October 2011 through February 2014.

Mr. O'Donnell has extensive experience in the healthcare industry, combining a traditional corporate background with serial entrepreneurship. Over his career he has raised in excess of $300 million in equity and debt capital in both public and private markets.

Currently, Mr. O'Donnell serves as CEO and Chairman of the Board of privately-held Trice Medical™, which develops optical guided needles for the detection of soft tissue damage in human joints. He joined Trice Medical in March 2011. Prior to joining Trice Medical, Mr. O'Donnell founded Embrella Cardiovascular, which developed a product to protect heart patients from blood clots. In three years, he raised $9 million in private offerings, and in 2011 the company was purchased by Edwards Lifesciences for $43 million.

Mr. O'Donnell also founded PhotoMedex, a publicly traded medical device company in December 1999 and served as CEO and Director until 2009. In 2009, Mr. O'Donnell also served as Managing Director of BioStar Ventures, a venture capital firm founded by physicians and medical business leaders to invest in early stage medical devices.

Prior to the founding of PhotoMedex, Mr. O'Donnell served as President, COO and was promoted to CEO of Radiance Medical (formerly Cardiovascular Dynamics, Inc). Raising over $50 million through an initial public offering, the company maintained strategic alliances with Medtronic and Guidant Corporation. Mr. O'Donnell served as CEO and Chairman until the company was purchased by Endologix in 2000. During his career Mr. O'Donnell also held senior sales positions at Guidant Corporation, Boston Scientific Corporation and the Orthopedic Division of Johnson & Johnson.

Mr. O'Donnell also serves as Chairman of the Board of MELA Sciences and as a Board Member of CD Diagnostics. He holds a BS in Business Administration from LaSalle University, Philadelphia, PA. In 2011, he was named the Greater Philadelphia Emerging Entrepreneur by Ernst & Young and in 2005 he was named Price Waterhouse Coopers Life Sciences CEO of the Year.

Greg Cash, BioSig CEO, said, "We are pleased that Jeffrey O'Donnell will rejoin our Board of Directors and Chair the Compensation Committee. Jeffrey brings years of experience in the cardiovascular space and he is the perfect executive to guide and advise the Management of BioSig throughout our overall expansion."

Jeffrey F. O'Donnell, stated, "BioSig Technologies has outstanding technology that may vastly improve diagnostic and therapeutic procedures in the cardiac electrophysiology laboratory as well as overall patient outcomes. I look forward to working with my fellow Board members and the Management team at BioSig, to bring the company to new levels of excellence."

About BioSig Technologies
BioSig is a medical device company that has developed a proprietary technology platform designed to greatly improve the $3 billion electrophysiology (EP) marketplace(1), (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Los Angeles-based BioSig is preparing to commercialize its PURE EP System.

PURE EP is a next-generation surface electrocardiogram and intracardiac multichannel recording and analysis system designed to assist electrophysiologists in making clinical decisions in real-time by acquiring and displaying high-fidelity cardiac signal recordings and providing guidance in identifying ablation targets -- areas of tissue to destroy that otherwise create a heart rhythm disturbance (arrhythmia).

Analysts forecast the global market for EP devices will grow at a 12.1 percent compound annual growth rate, from $2.5 billion in 2012 to $5.5 billion by 2019(1) -- making it one of the fastest growing medical device segments. Just in the US, the number of Atrial Fibrillation (AF) and Ventricular Tachycardia (VT) arrhythmia ablations is forecast to grow at 10.5 percent from 2012 to 2017(2).

BioSig intends to seek FDA 510(k) approval for the PURE EP System. The Company has already achieved proof of concept validation through UCLA EP & Animal Labs, and is collaborating with several of the nation's most prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute, UCLA Cardiac Arrhythmia Center, and Mayo Clinic.

Forward-Looking Statements
This release includes forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing, regulatory approvals, competition and marketplace demand. More information, and BioSig risk factors, are set forth in its filings with the SEC. BioSig assumes no obligation to publicly update or revise its forward-looking statements.

(1) Electrophysiology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

(2) HRI 2013 "Global Opportunities in Medical Devices & Diagnostics" report; triangulation of multiple sources; *AF includes left atrial tachycardia, left WPW, left atrial flutter.

Contact Information

  • Investor Contact
    Vivian Cervantes
    Managing Director
    D: 212-554-5482

    Media Contact
    Sean Leous
    Managing Director
    D: 646-863-8998