Company Prepares for FDA Filing of New Device
REDWOOD CITY, Calif., Dec. 04, 2019 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company, today announced that it has completed development of its ECG patch platform. An extension of the company’s award-winning Bioflux® device, Biopatch is ideal for patients with less complicated cardiac conditions. The patch leverages the advanced diagnostic capabilities of Bioflux® in a miniaturized form factor with 3 standard electrodes but no lead wires. It provides wireless communication to enable real-time monitoring for patients who are either at risk for, or diagnosed with, certain cardiac issues. The patch is currently undergoing internal clinical testing; once testing is complete the company will file a 510(k) clearance application with the US FDA.
“With development of the patch completed, we’ve achieved the most significant milestone in bringing our product to the market,” said Mr. Waqaas Al-Siddiq, Founder and CEO of Biotricity. “We took special care to develop our patch platform to ensure that our solution overcomes all of the limitations that other ECG patches in the market currently have. It’s with great pride that I can affirm that we have done exactly that. Biopatch will allow us to widen our commercial reach, offering patients a more convenient monitoring solution without compromising diagnostic quality.”
The company’s flagship product Bioflux® already offers advanced diagnostics for ambulatory patients and patients who are at high risk for adverse heart effects. A miniaturized application of the Bioflux® technology, Biopatch extends the same advanced diagnostics while offering patients a more convenient, less cumbersome monitoring solution to encourage greater user compliance.
Biopatch Key Features
- 3-channel solution, industry-recommended for best diagnostic yield
- Compact and comfortable with high usability
- A 3-in-1 solution offering Event, Holter, and Extended Holter monitoring; future extension will allow for mobile cardiac telemetry (MCT) monitoring
- Wireless communication to enable real-time monitoring
- Ensures advanced conduction & flexibility for all skin types, designed to use standard electrodes
- Automated wireless uploading addresses diagnostic and report turn-around issues that current patches face
- Rechargeable to address battery limitations that other patches in the market currently face
Continuous ECG monitoring patches that patients wear at home have been found to significantly increase detection of atrial fibrillation (AF), according to an industry-funded study in JAMA. AF can lead to serious heart-related complications, including stroke and heart failure. Small, comfortable, and effective, Biopatch will ensure patients with AF and other cardiac issues receive early diagnosis and preemptive care from their physicians.
About Biotricity Inc.
Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricity’s R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. To learn more, visit www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” “project,” or “goal” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.