HeartSciences Announces Further Internationalization of its AI-ECG Patent Portfolio

Rhea-AI Summary

HeartSciences, a company focused on AI-powered medical technology, announced the grant of Indian Patent Application 201817014481 for its MyoVista® Wavelet Technology. This patent expands its portfolio to 44 total granted patents, including nine in the US and 35 internationally, covering major markets such as China, Brazil, Canada, South Korea, Mexico, and key European nations. CEO Andrew Simpson highlighted the significance of this achievement, especially given India's large population of 1.4 billion people and the urgent need for better heart disease screening. Cardiovascular diseases are the leading cause of death in India, often presenting at an earlier age and with higher mortality rates compared to many other countries.

Positive

• HeartSciences has been granted 44 patents, including nine in the US and 35 internationally.
• The Indian patent expands HeartSciences' intellectual property in a key emerging market with a large population of 1.4 billion people.
• The company is at the forefront of AI-ECG technology, which could enhance early detection of heart disease.
• Expanding patent portfolio across major markets like China, Brazil, Canada, South Korea, Mexico, and key European countries.

Negative

• The press release does not mention any immediate financial gains or revenue projections linked to the new patent.
• The company is dealing with high expectations in a market with significant health challenges, which could pose operational risks.
• No concrete data on how the new patent will impact overall business performance or stock valuation.

Granted Indian Patent for its MyoVista® Wavelet Technology

Southlake, Texas, May 20, 2024 (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 that it has been granted Indian Patent Application 201817014481 by the Indian Patent Office (IPO).

To date, HeartSciences has been granted nine US patents and 35 international patents for a total of 44 granted patents. Issued international patents are across key countries including China, Brazil, Canada, India, South Korea, Mexico, and key European markets such as Germany, France, UK, Italy and the Netherlands.

Andrew Simpson, Chief Executive Officer of HeartSciences, commented, “In recent years, we have conscientiously built an extensive international intellectual property portfolio across major markets. We are pleased to receive this latest patent grant which further reinforces our position at the forefront of AI-ECG. India is the most populated country in the world, with 1.4 billion people, and there is a desperate need for improved heart disease screening. Cardiovascular diseases (CVD) are the leading cause of death and disability and is characterized by a higher relative risk burden, an earlier age of onset, higher case fatality and higher premature deaths than many other countries.”

About HeartSciences

Heart Test Laboratories, Inc. d/b/a HeartSciences is a medical technology company focused on applying innovative AI-based technology to an ECG (also known as an EKG) to expand and improve an ECG's clinical utility. Millions of ECGs are performed every week and the Company's objective is to improve healthcare by making it a far more valuable cardiac screening tool, particularly in frontline or point-of-care clinical settings. HeartSciences has one of the largest libraries of AI-ECG algorithms and is developing AI-ECG solutions to be made available on either a hardware agnostic cloud-based platform or  its proprietary MyoVista® wavECG™ device,  to help identify cardiovascular disease in any care setting worldwide in a manner to best suit different care providers. HeartSciences' first product candidate for FDA clearance, the MyoVista® wavECG™, or the MyoVista®, is a resting 12-lead ECG that is also designed to provide diagnostic information related to cardiac dysfunction which has traditionally only been available through the use of cardiac imaging. The MyoVista® also provides conventional ECG information in the same test.

For more information, please visit: https://heartsciences.com/. X: @HeartSciences

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company's future financial and operating performance. All statements, other than statements of historical facts, included herein are "forward-looking statements" including, among other things, statements about HeartSciences' beliefs and expectations. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. The expectations reflected in these forward-looking statements involve significant assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Potential risks and uncertainties include, but are not limited to, risks discussed in HeartSciences' Annual Report on Form 10-K for the fiscal year ended April 30, 2023, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 18, 2023, HeartSciences’ Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2024, filed with the SEC on March 14, 2024 and in HeartSciences' other filings with the SEC at www.sec.gov. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contacts:

HeartSciences
Gene Gephart
+1-682-244-2578 (US)
info@heartsciences.com

Investors
Gilmartin Group
Vivian Cervantes
investorrelations@heartsciences.com

FAQ

What is HeartSciences' latest patent?

HeartSciences was granted Indian Patent Application 201817014481 for its MyoVista® Wavelet Technology.

How many patents does HeartSciences hold?

HeartSciences holds a total of 44 granted patents, including nine in the US and 35 internationally.

Which countries have granted patents to HeartSciences?

HeartSciences has patents granted in the US, China, Brazil, Canada, South Korea, Mexico, and key European markets like Germany, France, the UK, Italy, and the Netherlands.

Why is the Indian patent significant for HeartSciences?

The Indian patent is significant due to India's large population of 1.4 billion people and the high prevalence of cardiovascular diseases, which are the leading cause of death.

What technology is covered by HeartSciences' new Indian patent?

The new Indian patent covers HeartSciences' MyoVista® Wavelet Technology.