Allied Minds PLC Formation of Signature Medical, Inc. (6352R)
December 13 2016 - 1:00AM
UK Regulatory
TIDMALM
RNS Number : 6352R
Allied Minds PLC
13 December 2016
FOR RELEASE ON 13 DECEMBER 2016
Allied Minds Announces the Formation of Signature Medical,
Inc.
Boston, MA (13 December 2016) - Allied Minds (LSE: ALM), an
innovative U.S. science and technology development and
commercialisation company, today announced the formation of a new
subsidiary, Signature Medical, Inc., which has secured an exclusive
worldwide option to license patent rights from Boston University
relating to cardiac signature technology.
The patent rights resulted from research conducted in the Boston
University Department of Electrical and Computer Engineering.
Signature Medical plans to further develop and refine the
technology for potential application in a wearable device that will
allow healthcare providers and physicians to diagnose and monitor
patients suffering from heart failure post hospital discharge as
well as during in-hospital therapy. Heart failure ranks among the
most prevalent and costly chronic diseases. It is the number one
cause of hospitalisation among U.S. adults over the age of 65 and
consumes 1-2% of all healthcare expenditures in developed
countries. The goal of the monitoring system is to optimise and
improve outcomes for patients while securing material cost savings
for healthcare systems in part by minimising readmissions.
"We are excited to be working with Boston University on this
important opportunity," said Omar Amirana, MD, Founder and Chief
Executive Officer of Signature Medical and Senior Vice President of
parent company, Allied Minds. "Today's heart failure treatments
could be significantly improved through the use of wearable devices
to improve diagnostics and monitoring to reduce hospitalisations
and readmissions."
- Ends -
For more information, please contact:
Allied Minds PLC +1 617 419 1800
Chris Silva, Chief Executive www.alliedminds.com
Officer
Citigate Dewe Rogerson +44 20 7638 9571
Rob Newman/ Shabnam Bashir alliedminds@citigatedr.co.uk
fama PR +1 617 986 5009
Ted Weismann alliedminds.famapr.com
About Allied Minds
Allied Minds (LSE: ALM) is a diversified holding company focused
on venture creation within the life science and technology sectors.
With unparalleled access to hundreds of university and federal labs
across the U.S., Allied Minds forms, funds, and operates a
portfolio of companies to generate long-term value for its
investors and stakeholders. Based in Boston, with nationwide
presence in Los Angeles and New York, Allied Minds supports its
businesses with capital, central management, and shared services.
For more information, please visit www.alliedminds.com.
Allied Minds Forward-Looking Statement
This press release contains statements that are or may be
forward-looking statements, including statements that relate to the
company's future prospects, developments and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited
to, those risk and uncertainties described in the risk factors
included in the company's regulatory filings. These forward-looking
statements are based on assumptions regarding the present and
future business strategies of the company and the environment in
which it will operate in the future. Each forward-looking statement
speaks only as at the date of this press release. Except as
required by law, regulatory requirement, the Listing Rules and the
Disclosure and Transparency Rules, neither the company nor any
other party intends to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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December 13, 2016 02:00 ET (07:00 GMT)
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