“The device monitors your heart’s electrical signal 24 hours a day, 7 days a week looking for changes that may indicate that your heart is not getting enough oxygen and that you might soon experience a heart attack,” Angel Medical Systems President and Chief Financial Officer Andrew Taylor explained. “The system may potentially detect heart attacks in high-risk patients who have no symptoms or have symptoms that are not typical.”
While the AngelMed Guardian® System is commercially available in Brazil and is CE Marked in Europe, it recently completed its pivotal clinical study and is currently under final FDA review in the United States.
Angel Medical System was one of 44 companies approved to share a total of $54 million in funding in Fiscal Year 2015 through the state’s Technology Business Tax Certificate Transfer (NOL) Program. The program allows qualified technology and biotechnology companies to sell unused New Jersey net operating losses and research and development tax credits to unrelated profitable corporations to raise cash to finance their growth and operations. Up to $60 million dollars is available annually for the selected companies to share. Applications for the state’s Fiscal Year 2016 allocation are currently being accepted and can be found athttp://www.njeda.com/nol. The deadline to apply is June 30, 2015.
Angel Medical Systems will also participate in the State’s “Partnering with New Jersey” panel discussion at the BIO International Convention on Tuesday, June 16 at 11:00 a.m. in Philadelphia. During the discussion, audience members will hear how the State supports technology companies at all stages, helping them start, grow and thrive. The discussion will highlight the array of programs and resources available to the industry, including the NOL and Angel Investor Tax Credit programs.
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