Biological Signal Processing Ltd. (BSP), which has developed an non-invasive solution for the diagnosis and monitoring of ischemic heart diseases, has filed a draft a draft prospectus with the Tel Aviv Stock Exchange (TASE). Poalim IBI Underwriting and Investments (TASE: PIU) will lead the issue. The company has so far raised $5 million from the Chief Scientist and $1 million from private investors.
Founded in 2000 by Dr. Amir Beker and Ariel Landau, BSP has developed the HyperQ signal processing technology, enabling more sensitive reading of electrical signals from the heart and blood vessels. The technology is designed to be a more improved form of the current generation of electrocardiograms, which can only detect some of the more substantial disturbances in blood flow, indicating the presence of heart disease or angiopathy.
One third of patients suffer from severe disruptions that are too minute for routine ECG diagnosis but could still be fatal. In such instances, hospitals and medical centers have to resort to tests that are more expensive invasive such as echo cardiograms or radioactive cardiac muscle imaging, or more invasive such as cardiac catheterization. BSP has developed a PC-based ECG system that offers clinicians reliable diagnosis, avoiding unnecessary further procedures.
BSP obtained approval in 2005 from the US Food and Drug Administration (FDA) to market its device in the US. It recently received an additional NIS 1.7 million grant from the Chief Scientist for the development of its next product, the HyperQ Rest Monitor, which will perform ECG analysis under conditions of rest, rather than stress.
Published by Globes [online], Israel business news - www.globes.co.il - on April 24, 2006
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