BioSig Technologies (OTCQB: BSGM) has raised $8.6 million in a new round of equity financing, according to a recently posed SEC filing.
The Santa Monica, Calif.-based company is developing the Pure EP system, which is designed for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording and storing electrocardiographic and intracardiac signals for patients undergoing electrophysiology procedures.
The device is intended to reduce noise and artifacts to produce high-fidelity cardiac signals, which the company claims could increase the diagnostic values of the signals.
BioSig is not looking to raise any more funds during the round, and has not yet stated how it plans to spend funds raised.
Money in the round came from 103 unnamed investors, with the first date of sale noted as having occurred on March 14, according to the filing.
Last November, BioSig said that it inked a deal with Austin’s Texas Cardiac Arrhythmia Institute at St. David’s Medical Center to launch first-in-human studies using its Pure EP system.
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