HeartSciences signs definitive license agreements with Icahn Mount Sinai for AI ECG algorithms and data access

HeartSciences Inc.

Entered into 11 license agreements for 13 algorithms, 2 data science methods, and 3 patent filings related to AI ECG analysis.
Mount Sinai will receive 15% of HeartSciences' common stock upon closing of a $5M financing, plus warrants for 914,148 shares at $0.5060.
Royalties: low-single digit percentages of annual net sales of licensed products; sublicense revenue share also required.
Also signed MOU for de-identified data access, ongoing research, and evaluation of HeartSciences' MyoVista wavECG device.
HeartSciences plans to develop a cloud-based, device-agnostic platform to deploy algorithms broadly.

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Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HeartSciences Inc. entered into License Agreements with Icahn School of Medicine at Mount Sinai (effective 2023-09-20).

Action: entry
Agreement: license
Counterparty: Icahn School of Medicine at Mount Sinai
Effective: 2023-09-20

Exact text from the filing

On September 20, 2023, Heart Test Laboratories, Inc. (the “Company”) entered into several definitive license agreements (each a “License Agreement” and collectively, the “License Agreements”) with Icahn School of Medicine at Mount Sinai (“Mount Sinai”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HeartSciences Inc. entered into Securities Purchase Agreement with Icahn School of Medicine at Mount Sinai (effective 2023-09-20).

Action: entry
Agreement: equity purchase
Counterparty: Icahn School of Medicine at Mount Sinai
Effective: 2023-09-20

Exact text from the filing

on September 20, 2023, the Company and Mount Sinai entered into a Securities Purchase Agreement (the “ Securities Purchase Agreement”), pursuant to which the Company agreed to sell to Mount Sinai as of the Closing Date (as defined below)

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HeartSciences Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-049073

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