Biotectix Announces Licensing Agreement with Acutus Medical for the Use of Amplicoat™ on Cardiac Catheters

Biotectix today announced that its Amplicoat™ electro-conductive polymer coating has been licensed by Acutus Medical for use on the company’s real-time 3D Cardiac Chamber Imaging and Dipole Density Mapping system.

Amplicoat is a highly durable coating that is designed to enhance communication at the interface between human tissue and a medical device’s electrode, and enable higher signal fidelity, reduced power requirements, and device electrode miniaturization. The licensing agreement allows for Amplicoat to be applied to cardiac catheters made by Acutus Medical, whose imaging and mapping system aims to identify the sources that cause and/or sustain complex and irregular cardiac arrhythmias, including atrial fibrillation.

"We are pleased to be able to work with Acutus Medical on their efforts to increase the effectiveness of their mapping system,” said Jeff Hendricks, PhD, co-founder of Biotectix. "The pioneering design of the Acutus Medical catheter is an excellent match for Amplicoat, as it will allow for the more efficient transfer of charges between the device and cardiac tissue.”

Randy Werneth, Founder, President and Chief Executive Officer of Acutus Medical stated, "The Biotectix conductive coating performed well with our system and is part of the internal and external technology platform that is designed to advance our aim of rapidly mapping the atrium while accurately identifying the parts of the heart to which the electrophysiologist can direct therapy."

Biotectix is expanding production of its coating products with the opening of a new research and development facility in Richmond, California. The 2800 square foot, federally compliant space will have the capability to coat customer devices as well as produce and distribute coating solutions.

"Acutus Medical’s decision to license our Amplicoat coating is a testament to the value Biotectix brings to the electrophysiology mapping arena. We are honored to be working with an innovation leader such as Acutus Medical to enhance AF patients’ lives,” said Omar Amirana, MD, Biotectix Chief Executive Officer and Senior Vice President of Allied Minds (LSE:ALM), the parent company of Biotectix.

About Biotectix

Biotectix develops electro-conductive coating technologies for medical devices and non-medical applications. The company, relocating from Ann Arbor, Michigan to Richmond, CA, was formed in 2007 through a joint venture between the University of Michigan, Ann Arbor and Allied Minds. More information can be found on www.biotectix.com.

About Acutus Medical

Acutus Medical is an innovative medical device company developing a minimally invasive cardiac imaging and mapping system and catheters that have the potential to change clinical practice and improve patient outcomes in irregular and complex heart rhythm disorders. Acutus Medical is a privately held company located in San Diego, CA. You can learn more about the company at www.acutusmedical.com.

About Allied Minds

Allied Minds (LSE: ALM) is an innovative U.S. science and technology development and commercialization company. Operating since 2006, Allied Minds forms, funds, manages and builds products and businesses based on innovative technologies developed at leading U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses and product development with capital, central management and shared services. More information about the Boston-based company can be found at www.alliedminds.com.

Allied Minds Forward-Looking Statement

This press release contains statements that are or may be forward-looking statements, including statements that relate to the company’s future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risk and uncertainties described in the risk factors included in the company’s regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Prospectus Rules, the Listing Rules and the Disclosure and Transparency Rules, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

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