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HeartSciences Announces Closing of License Agreements with the Icahn School of Medicine at Mount Sinai to Develop and Commercialize AI Cardiovascular Algorithms
Southlake, TX, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) ("HeartSciences" or the "Company"),
About this update from Heartsciences Inc.
[{"type":"text","content":"Southlake, TX, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) (\"HeartSciences\" or the \"Company\"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced the closing of its license agreements with the Icahn School of Medicine at Mount Sinai (Icahn Mount Sinai), in New York, NY, to develop and commercialize electrocardiographic AI algorithms and assets. The licenses result in Icahn Mount Sinai becoming a shareholder in the Company. Andrew Simpson, Chief Executive Officer of HeartSciences, said, \"We continue to advance initiatives that fundamentally transform and de-risk HeartSciences. The closing of our licenses with Icahn Mount Sinai now propels us forward with our cardiovascular disease AI-ECG development programs. Combined with the recent creation of a new FDA product classification for AI-ECG algorithms that we believe paves the way for a more structured and quicker 510(k) process of our technologies, we have clear focus on our target milestones,\" said Andrew Simpson, CEO of HeartSciences. “We believe AI-based ECG algorithms close the diagnostic gap to detect heart disease much earlier and at a lower cost and we look forward to accelerating commercialization and broadening the range of prospective solutions that we will provide.” Erik Lium, PhD, the Chief Commercial Innovation Officer at the Mount Sinai Health System and President of Mount Sinai Innovation Partners, said, \"We look forward to working with HeartSciences, a company that aims to bring new AI-powered ECG capabilities to market in an effort to enable the early detection of heart disease and, ultimately, improve the lives of patients.\" The licenses from Icahn Mount Sinai grant rights to multiple patented and unpatented AI-based ECG/EKG algorithms and technologies for the screening and diagnosis of cardiovascular disease. The licenses provide HeartSciences with an industry leading library of AI-based ECG algorithms. HeartSciences intends to deliver these algorithms using a cloud-based, hardware agnostic platform, allowing HeartSciences to accept ECGs from millions of existing ECG devices around the world, including its MyoVista device. The algorithms were developed using a database of...