BSGM BioSig Technologies Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): November 2, 2023

 

BioSig Technologies, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware		001-38659		26-4333375
(State or other jurisdiction		(Commission File Number)		(IRS Employer
of incorporation)				Identification No.)

 

55 Greens Farms Road, 1st Floor Westport, Connecticut		06880
(Address of principal executive offices)		(Zip Code)

 

(203) 409-5444

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of exchange on which registered
Common Stock, par value $0.001 per share		BSGM		The NASDAQ Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 8.01

Other Events.

 

On November 7, 2023, BioSig Technologies, Inc. issued a press release announcing the appointment of Frederick Hrkac to the new role of Executive Vice President, effective as of November 2, 2023. As a result of his appointment, Mr. Hrkac was replaced by James Klein as a member and Chairman of the nominating and corporate governance committee. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein.

 

Item 9.01

Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit Number		Description
99.1		Press Release dated November 7, 2023
104		Cover Page Interactive Data File (formatted as Inline XBRL)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	BIOSIG TECHNOLOGIES, INC.
Date: November 7, 2023	By:	/s/ Kenneth L. Londoner
	Name:	Kenneth L. Londoner
	Title:	Executive Chairman

 

 

 

Exhibit 99.1

 

BioSig Appoints Global MedTech Leader Fred Hrkac as New Executive VP

 

32-year career in medical device and electrophysiology business expansion for industry bellwethers; led multiple company exits including a $1B sale in 2018

 

Part of leadership team that grew Johnson & Johnson’s original cardiology/electrophysiology business from $22M to $500M in 7 years

 

Westport, CT, November 7, 2023 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the “Company”), a medical technology company committed to delivering unprecedented accuracy and precision to intracardiac signal visualization, announced the appointment of Frederick Hrkac to the new role of Executive Vice President, effective as of November 2, 2023. Mr. Hrkac has a 32-year career in medical devices, as an executive and corporate director, covering much of the globe. Since April 2022, he has served on the BioSig Board of Directors and as Chairman of the nominating and corporate governance committee. As a result of his appointment, Mr Hrkac was replaced by James Klein as a member and Chairman of the nominating and corporate governance committee.

 

“Fred is well-known as a key executive leader in the global medical device industry. He carries an impeccable reputation and strong track record of success in commercial medtech operations, highlighted by his contributions to the immense growth and expansion of BioSense Webster, the med-device businesses of Johnson & Johnson (“J&J”), Boston Scientific, and other influential companies,” said Kenneth Londoner, Chairman & CEO of BioSig. “It’s a great pleasure to welcome Fred from our Board of Directors to our executive team, where he will work closely with executive leadership in unlocking the value of our business and technology and opening doors to new opportunities through his close contacts around the globe.”

 

“I am thrilled with the opportunity to bring BioSig’s groundbreaking technology into the hands of electrophysiologists with a strategy similar to my work 20 years ago in introducing novel cardiac navigational technology that shaped the way atrial fibrillation is treated globally,” said Mr. Hrkac. “I look forward to working closely with the outstanding leadership team at BioSig to spur PURE EP™ Platform adoption in multiple new geographic markets and drive multiple avenues of potential value creation.”

 

Mr. Hrkac’s career began at J & J where he managed the company’s complete portfolio of general surgery and cardiology/electrophysiology products. He was part of the small team that started and grew J&J’s businesses in central and eastern Europe in the 1990’s, driving revenue growth from $22 million to over $500 million in seven years. At Biosense Webster, a J&J company, Mr. Hrkac was head of global marketing and all commercial activity outside the U.S., leading the early stages of the company’s dominance of the electrophysiology market from 2001-2005.

 

After a 15-year career at J&J, Mr. Hrkac became president and CEO of Sorin Cardiac Rhythm Management (CRM), where he led the globalization of the company into regions including the U.S., Japan, and EMEA. He then became President of Boston Scientific EMEA, managing a $1.8 billion P&L that covered the entire Boston Scientific portfolio in more than 65 EMEA countries.

 

 

In 2015, Mr. Hrkac joined Biosensors, a Singapore-based stent company, where he led the company’s global commercialization and eventual sale of the Company for over $1 billion in 2018.

 

Mr. Hrkac currently serves on the board of Serres in Helsinki, Finland, and Spineart in Geneva, Switzerland as chairman of the board.

 

About BioSig Technologies, Inc.

 

BioSig Technologies is a medical technology company focused on deciphering the body’s electrical signals, starting with heart rhythms. By leveraging a first of its kind combination of hardware and software, we deliver unprecedented cardiac signal clarity, ending the reliance on ‘mixed signals’ and ‘reading between the lines.’ Our platform technology is addressing some of healthcare’s biggest challenges—saving time, saving costs, and saving lives.

 

The Company’s product, the PURE EP™ Platform, an FDA 510(k) cleared non-invasive class II device, provides superior, real-time signal visualization allowing physicians to perform highly targeted cardiac ablation procedures with increased procedural efficiency and efficacy.

 

An estimated, 14.4 million Americans suffer from cardiac arrhythmias, and the global EP market is projected to reach $16B in 2028 with an 11.2% growth rate.¹

 

Forward-Looking Statements

 

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward- looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the geographic, social and economic impact of COVID-19 on our ability to conduct our business and raise capital in the future when needed, (ii) our inability to manufacture our products and product candidates on a commercial scale on our own, or in collaboration with third parties; (iii) difficulties in obtaining financing on commercially reasonable terms; (iv) changes in the size and nature of our competition; (v) loss of one or more key executives or scientists; and (vi) difficulties in securing regulatory approval to market our products and product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

 

For media inquiries:

 

Katie Freshwater

BioSig Technologies, Inc.

Vice President, Marketing

55 Greens Farms

Westport, CT 06880

kfreshwater@biosigtech.com

203-409-5444, x162

 

For investor relations:

 

Andrew Ballou

BioSig Technologies, Inc.

Vice President, Investor Relations

55 Greens Farms

Westport, CT 06880

aballou@biosigtech.com

203-409-5444, x133

 

¹ Global Market Insights, Inc. (2022, March)

 

 

v3.23.3

Cover	Nov. 02, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 02, 2023
Entity File Number	001-38659
Entity Registrant Name	BioSig Technologies, Inc.
Entity Central Index Key	0001530766
Entity Tax Identification Number	26-4333375
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	55 Greens Farms Road, 1st Floor
Entity Address, City or Town	Westport
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06880
City Area Code	(203)
Local Phone Number	409-5444
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	BSGM
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

---