REDWOOD CITY, Calif., Apr. 03, 2018 (GLOBE NEWSWIRE) — Biotricity Inc. (OTCQB:BTCY), a medical diagnostic and consumer healthcare technology company dedicated to delivering innovative, biometric remote monitoring solutions, today provided a progress update for the end of the 2017 fiscal year which ended on March 31 2018, reported its 2018 goals, and issued its first ever shareholder letter.
“We are pleased with the progress we achieved during the past year, most notably receiving 510(k) clearance for our Bioflux device,” said Mr. Waqaas Al-Siddiq, Founder and CEO of Biotricity. “We remain deeply focused on continuing to advance our Bioflux 1.0 market entry, developing future applications in connected healthcare markets, and driving shareholder value. The remote patient monitoring industry is growing at an exponential rate and we believe our platform is poised to disrupt this space, offering a turnkey solution for patients and physicians.”
To view the Biotricity Shareholder Letter please visit: Biotricity Shareholder Letter
2017 Milestones Include:
Achieved 510(k) clearance for Bioflux 1.0
Closed a registered direct offering with existing shareholders
Commenced extending the capabilities of the Company’s remote patient monitoring (RPM) platform with artificial intelligence (AI)
Began to build its sales force and expanded pilot sites to accelerate market entry
Received ethics approval to investigate mobile wireless fetal monitoring
2018 Goals:
Launch Bioflux 1.0 by end of Q2, with first revenues expected in early Q3
Begin clinical benchmarking of device level AI in Q3
Deploy cloud-based AI for Bioflux 1.0 in Q3
Complete Bioflux 2.0 development & prototyping and file 510(k) application with FDA by end of Q4Anticipate development of Biolife by end of Q3 with prototypes available by end of Q4
Test and prototype Biotricity’s next remote patient monitoring solutions, with details to be announced in Q3
List on a National Exchange
“This will be a fast-paced year for the Company with expectations for the first revenue recognition for Bioflux 1.0, the filing of our second 510(k), and the announcement of our next RPM market
