PALM BEACH, Florida, January 9, 2018 /PRNewswire/ --
The growthin development for addressing healthcare, specifically unmet needs, as well as the ongoing and increasing need for developing the latest therapies and biotech drugs as Baby Boomer generation continues to age, are growth drivers for the positive outlook
BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing a proprietary biomedical signal processing platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, today announced that it has partnered with Mr. Charles (Chuck) Austin and JK Advisors in order to scale up operational activities ahead of the commercial launch of PURE EP(tm) System. Mr. Austin brings to the Company over 25 years of experience in medical devices, pharmaceuticals and consumer products. Most recently, he served as Corporate Vice President, Global Supply Chain at Johnson & Johnson, and was a member of the J&J Management Committee. In this role, he was responsible for over 60,000 associates at 130 sites around the world while overseeing over 500 external manufacturers, over $22BB in direct spend, and supported in excess of $70BB in sales. His leadership positions within Johnson & Johnson included Company Group Chairman for Ethicon Surgical Care and Worldwide President for Ethicon Endo-Surgery. Read this and more news for BioSig Technologies at: http://www.marketnewsupdates.com/news/bsgm.html The appointment of Mr. Austin comes at a crucial time for BioSig, as the Company executes its market entry in the U.S. in 2018. Mr. Austin currently serves on multiple boards in the medical and consumer spaces and is a Principal in JK Advisors, a San Diego based firm focused on the medical space.
"BioSig has impressed us with a strong value proposition and support of leading centers of excellence in the industry. I'm delighted to join the BioSig team at this important time and contribute my knowledge to take the Company to the next level," commented Mr. Austin.
"BioSig is excited to be working with an executive leader like Chuck. His 25 plus years of experience working for one of the world's leading healthcare organizations can significantly benefit our effort to launch and expand our business operations," stated Mr. Kenneth Londoner, Chairman & CEO of BioSig Technologies, Inc. "While we expect Chuck to make his initial impact on manufacturing, logistics, and operations, his experience in successfully deploying new commercial models and driving global growth in the medical device marketplace will create value for all our stakeholders. This is an excellent way to kick off our efforts in 2018, which promises to be a pivotal year for the Company."
In other healthcare industry news of note:
OHR Pharmaceutical Inc. (NASDAQ: OHRP) closed up 3.21% on Monday trading over 19.4 million shares market close and was also up slightly in afterhours trading. Last week, the company announced topline data from the MAKO study which did not meet its primary efficacy endpoint. The MAKO study evaluated the efficacy and safety of topically administered squalamine in combination with monthly Lucentis® injections for the treatment of wet age-related macular degeneration ("wet-AMD"). The primary efficacy endpoint was the mean visual acuity gain at nine months, using a mixed-effects model for repeated measures (MMRM) analysis. Subjects receiving squalamine combination therapy (n=119) achieved a mean gain of 8.33 letters from baseline versus 10.58 letters from baseline with Lucentis® monotherapy (n=118). There were no differences in the safety profile between the two treatment groups. "We are very disappointed with the outcome of the MAKO study," commented Dr. Jason Slakter, chief executive officer of Ohr. "We are grateful to the patients and physicians who participated in the clinical trial. Based on these results, we intend to evaluate strategic alternatives to maximize shareholder value."
Agenus Inc. (NASDAQ: AGEN) closed up over 11% on Monday at $3.91 trading over 5.8 million shares by the market close. The company also recently announced a $230 million non-dilutive royalty transaction with HealthCare Royalty Partners (HCR). The transaction is comprised of $190 million of cash proceeds at closing plus up to $40 million in milestone payments. Agenus will use part of these proceeds to redeem its royalty bond from Oberland and the additional monies to advance its registrational studies with anti-CTLA-4 and anti-PD-1 for planned BLA filings in 2019 and 2020. At closing, HCR will receive the rights to royalties on sales of GlaxoSmithKline's QS-21 containing vaccines. Agenus retains all rights for the development of QS-21 with its entire portfolio of checkpoint antibodies, vaccines, and cellular therapies* with no third party obligation.
Galectin Therapeutics Inc. (NASDAQ: GALT) closed up Monday over 21% at $5.05 with over 1.8 million shares traded by the market close. Galectin Therapeutics is dedicated to developing novel therapies to improve the lives of patients with chronic liver and skin diseases and cancer. Galectin's lead drug (GR-MD-02) is a carbohydrate-based drug that inhibits the galectin-3 protein that is directly involved in multiple inflammatory, fibrotic, and malignant diseases. The lead development program is in non-alcoholic steatohepatitis (NASH) with cirrhosis, the most advanced form of NASH related fibrosis.
Alder Biopharmaceuticals Inc. (NASDAQ: ALDR) closed up over 17% on Monday trading just over 6.9 million shares by the close. The company announced yesterday that it has entered into a European patent settlement and global license agreement with Teva Pharmaceuticals International GmbH (NYSE: TEVA). The agreement resolves Alder's appeal following opposition proceedings before the European Patent Office related to Teva's European Patent No. 1957106 B1, with respect to calcitonin gene-related peptide (CGRP) antagonist antibodies, and provides clarity regarding Alder's freedom to develop, manufacture and commercialize eptinezumab, its lead product candidate for migraine prevention targeting CGRP.
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