HeartSciences Announces Further Internationalization of its Patent Portfolio

Rhea-AI Summary

HeartSciences has been granted Korean Patent No. 10-2490960 for its MyoVista® Wavelet Technology, enhancing its intellectual property portfolio to a total of 39 patents worldwide, including nine in the US. This technology aims to improve ECGs by using AI for detecting left ventricular diastolic dysfunction, addressing a significant health issue, as cardiovascular diseases lead to 17.9 million deaths annually. With this patent, HeartSciences enhances its competitive edge in the global market, supporting its objective to transform ECGs into effective cardiac health screening tools.

Positive

• Granted Korean Patent No. 10-2490960, expanding international patent coverage.
• Total of 39 patents granted, indicating robust intellectual property.
• MyoVista® technology enhances ECG utility, potentially benefiting healthcare providers.

Negative

• None.

Granted Korean Patent for its MyoVista® Wavelet Technology

Southlake, Texas, Feb. 03, 2023 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (NASDAQ: HSCS; HSCSW) (“HeartSciences” or the “Company”), a medical technology company focused on saving lives by making an ECG (also known as an EKG) a far more valuable screening tool through the use of Artificial Intelligence (AI), today announced it has been granted Korean Patent No. 10-2490960 from the Korean Intellectual Property Office (KIPO).

To date HeartSciences has been granted nine US patents and 30 international patents for a total of 39 granted patents.  The Company has nine additional patents pending across the US and international markets.  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, “Millions of ECG’s are performed worldwide every week and the ECG is by far the most ubiquitous cardiac test. The addition of cardiac dysfunction detection to the ECG is expected to provide significant benefit to healthcare providers and health systems around the world. Cardiovascular disease accounts for 17.9 million deaths, an estimated 32% of all deaths worldwide. The MyoVista® could play a significant role in heart health screening worldwide.”

Mr. Simpson continued, “Given the scale of the global market, protection of our intellectual property and patents in major markets is core to the Company as it provides intrinsic value to HeartSciences and would be expected to be a source of major competitive advantage as we move toward commercialization. This latest patent further expands our international coverage and is the latest addition to our extensive patent portfolio.”

The MyoVista® is a resting 12-lead electrocardiograph that uses AI and continuous wavelet transform (CWT) signal processing to provide cardiac information associated with left ventricular diastolic dysfunction (LVDD), a condition which has previously not been possible to detect using conventional electrocardiology. It is designed to improve the ability of electrocardiography by using continuous wavelet transform mathematics to extract the frequency content from the input ECG signal.  This additional valuable information is used as part of the input in developing the AI models and helps improve overall model performance.

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 usefulness. Millions of ECGs are performed every week and the Company’s objective is to improve healthcare by making an ECG a far more valuable cardiac screening tool, particularly in frontline or point-of-care clinical settings. 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. The business model, which involves the use of the MyoVista® device and consumables for each test, is expected to be “razor-razorblade” as the electrodes used with the MyoVista® are proprietary to HeartSciences, and new electrodes are required for every test performed.

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

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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’ filings with the U.S. Securities and Exchange Commission 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.

For investor and media inquiries, please contact:

Investor Relations:
Crescendo Communications, LLC
Phone: (212) 671-1021
Email: HSCS@crescendo-ir.com

Company:
Gene Gephart
Phone: +1-737-414-9213 (US)
Email: investorrelations@heartsciences.com

FAQ

What is the significance of HeartSciences' Korean Patent No. 10-2490960?

The patent enhances HeartSciences' intellectual property portfolio, allowing for better protection of their innovative MyoVista® technology, which aims to improve ECG diagnostics.

How many patents does HeartSciences currently hold?

HeartSciences has granted a total of 39 patents worldwide, including nine in the US.

What is the MyoVista® technology used for?

The MyoVista® technology uses AI to provide cardiac information that can detect left ventricular diastolic dysfunction (LVDD) through advanced ECG analysis.

How does the MyoVista® technology impact ECG screenings?

MyoVista® significantly enhances the capability of ECGs, allowing for the detection of conditions that were previously only identifiable through cardiac imaging.

What is the market potential for the MyoVista® technology?

Given the high prevalence of cardiovascular diseases, MyoVista® has substantial market potential as it addresses critical diagnostic needs in cardiac health.

What public health issue does HeartSciences aim to address?

HeartSciences aims to address cardiovascular diseases, which account for approximately 32% of all deaths worldwide.