Would you do reasearch on a company that is currently seeking FDA clearence ? Take a look at the bullet points below. BTCY had made some tremendous strides over the last year.
Today Biotricity announced that the company recently received communication from the FDA stating that its 510(k) submission for its next generation Bioflux Software Device is now in the Substantiative Phase of the review process with an expected response by the end of June. The Company is confident in its FDA submission process, having received two previous 510(k)s for its Bioflux Device and Bioflux Software.
This FDA submission highlights Biotricity’s focus on innovation and expansion of its technology. Alongside technology, the company has focused on applying technology in a recurring revenue business model. This model has led to triple digit growth, albeit despite recent events, which have instead made its technology even more applicable. This is evidenced by continued sales through recent events and an expected 20% growth for the quarter.
“Biotricity has a track record in receiving FDA 510(k)s and is confident in the process. We look forward to completing this 510(k) and submitting additional 510(k)s later this year. We are excited about our continued development and look forward to launching our next generation technologies once the adequate regulatory clearances are obtained,” said Dr. Waqaas Al-Siddiq, Founder & CEO.
The future of healthcare is remote diagnostics and monitoring. With a focus on innovation and development, Biotricity is well positioned to be a part of this trend.
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Here is a link to the full release: https://finance.yahoo.com/news/biotricity-fda-submission-000010339.html
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