BEAT - InvestorNewsBreaks - HeartBeam Inc. (NASDAQ: BEAT) Completes $25M Capital Raise to Achieve Upcoming Milestones Extend Cash Runway
HeartBeam (NASDAQ: BEAT) is a cardiac technology company that has developed the first and only 3D-vector electrocardiogram (“VECG”) platform to help physicians detect heart attacks anytime, anywhere as well as diagnose other common heart conditions. The company today announced the closing of its secondary offering of 16,666,666 shares of HeartBeam’s common stock. According to the update, the financing will allow HeartBeam to fund its upcoming clinical and regulatory milestones related to its HeartBeam AIMIGo(TM) system and prepare for commercialization in 2024. “We are extremely pleased to have received this additional funding, which will allow us to achieve our important upcoming milestones and extends our cash runway into late 2024,” said Branislav Vajdic, Ph.D. HeartBeam founder and CEO. “We are also excited to be working with Public Ventures, which is an outstanding strategic partner with a long track record of helping companies grow and realize their full potential. The strategic focus we are announcing today are important steps for us to demonstrate the value of our novel VECG technology and to achieve the clinical and regulatory milestones to bring these important products into the hands of physicians and patients.”
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About HeartBeam Inc.
HeartBeam is a cardiac technology company that has developed the first and only 3D-vector ECG platform for heart attack detection anytime, anywhere. By applying a suite of proprietary algorithms to simplify vector electrocardiography (“VECG”), the HeartBeam platform enables patients and their clinicians to determine if symptoms are due to a heart attack, quickly and easily, so care can be expedited, if required. HeartBeam has two patented products in development. HeartBeam AIMI(TM) is software for acute care settings that provides a 3D comparison of baseline and symptomatic 12-lead ECG to more accurately identify a heart attack. HeartBeam AIMIGo(TM) is the first and only credit card-sized 12-lead output ECG device coupled with a smart phone app and cloud-based diagnostic software system to facilitate remote heart attack detection. HeartBeam AIMI and HeartBeam AIMIGo have not yet been cleared by the U.S. Food and Drug Administration (“FDA”) for marketing in the USA or other geographies. For more information, visit www.HeartBeam.com.
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