Excerpts from Conference Call August 12
Its a good read.
"As you are all well aware, raising capital as a prerevenue
Company in 2009 and 2010 was, and still is, a very challenging task. As we have recently announced, we are refocusing our efforts to identify opportunities, either through strategic partnerships or other relationships, to raise capital at a valuation that we believe fairly reflects the Company’s value that will enable us to fund the Company moving forward."
"Moving on to CardioBip™ and Cardio 3KG™, we are
very pleased with the progress that we have been able to achieve given the limited investment that we have been afforded over the past 12 months. This is very encouraging given the fact that the addressable markets for each of these products, on a standalone basis, far exceeds the markets for QTinno™.
CardioBip™ is the only remote monitoring tool that can effectively capture and transmit a full 12-lead ECG for analysis and review. We have been able to complete two studies, one for the detection and diagnosis of atrial fibrillation and the other for ischemia, and both resulted in very encouraging and promising findings. Based on these results, we have been able to develop and present at
the Heart Rhythm Society meeting this past May our next generation
CardioBip™, which generated a high level of interest and feedback from key thought leaders in the field of remote telemedicine monitoring. In addition, we have been issued a U.S.—utility U.S. patent which protects the core technology underlying CardioBip™. In Europe, the core CardioBip™ technology has already been protected by several country-specific European patents. And finally, the
high level of interest in the remote monitoring device, which does not require a patient to wear leads over an extended period of time while advancing the current limitations of the one to three-channel devices, is evidenced in the number of acceptances of scientific and medical publications for presentations at leading trade shows. We feel that all of these achievements are a significant
validation of NewCardio’s technology and in CardioBip’s ability to become the emerging leader in the growing wireless monitoring—remote monitoring market. We believe this market has the potential to exceed 2 billion—that is with a “b”— annually within the next three to five years, and believe we are positioned well to capture a significant portion of that market with a differentiated technology.
Cardio 3KG™ is our solution for enhancing the
accuracy and timeliness in detecting acute coronary syndrome, a heart attack. And this product has been—has also been advanced. Leveraging the initial validation that we have done in collaboration with Dr. Mark Josephson, Chairman of our Scientific Advisory Board, and his team at Harvard, we have been able to
advance the sensitivity and specificity for continued algorithm development applied to databases acquired from key emergency room centers and then compared to the manual gold standard diagnosis. We have also been issued a utility U.S. patent that protects certain aspects of the core technology underlying our 3D ECG platform and the Cardio 3KG™. Similar to CardioBip™, Cardio 3KG™ represents a market that could approach $2 billion annually in the next
three to five years given its ability to advance the use of the ECG as a noninvasive, inexpensive diagnostic tool. If we are correct in our initial assessment that Cardio 3KG™ will have the ability to both save lives through more timely detection and reduce healthcare costs through more accurate detection, the opportunity to replace not only the current ECG but, potentially, other, more expensive diagnostic tools, the upside potential for Cardio 3KG™ could be
significant.
