HeartBeam, Inc. (NASDAQ: BEAT), a healthcare technology startup with a proprietary ECG telemedicine for heart, detecting attacks, recently announced that it has signed an expert services agreement (the "Agreement") with Triple Ring Technologies, Inc. ("Triple Ring"), a co-development company, to help with the design and development of its Telehealth complete solution 3D vector Electrocardiogram (ECG) collection device for remote heart attack or myocardial infarction detection. The joint venture is a five-phase expedited device development project that will be completed in time for a 510k submission to the FDA in the fourth quarter of 2022.
HeartBeam has created a personal, portable, and simple-to-use heart attack detection system that patients may use at home to assist their doctors in determining whether a heart attack or MI causes chest discomfort. HeartBeam's ground-breaking technology uses a reusable 3D vector ECG recording device the size of a credit card and cloud-based software to provide essential data to physicians in real-time outside of a medical setting. In the United States, more than 18 million people have coronary artery disease, and a heart attack occurs every 40 seconds.
Triple Ring is a forward-thinking firm with a track record of collaborating with small and large Medtech firms to co-develop market-leading medical innovations. Early R&D, product development, manufacturing, regulatory approval, market access, strategic investment, and incubation are just a few of the capabilities available.
The joint project will consist of HeartBeam Telehealth 3D vector ECG collecting device builds for design verification and validation, device packaging, and a manufacturing technology transfer to a contract manufacturer to be named later, according to the terms of the agreement. HeartBeam is in talks with several contract producers right now.
“Our technology partnership with Triple Ring will allow us to rapidly advance commercial production capabilities of our 3D vector collection device, with the project scheduled to complete in time for a 510k submission to the FDA in the fourth quarter of this year. We look forward to working with the team at Triple Ring to leverage their scientific capabilities, medical device technology expertise and commercialization know-how to successfully compete the project,” concluded Vajdic.
“Triple Ring is pleased to partner with HeartBeam to develop the integral medical device that is part of their complete Telehealth solution for the detection of heart attacks outside of a medical institution. We look forward to contributing our capabilities and experience to the HeartBeam team to help turn their innovative science into commercial and business success.”
Joe Heanue, CEO of Triple Ring Technologies