VANCOUVER, British Columbia, June 13, 2018 (GLOBE NEWSWIRE) — Novoheart (“Novoheart” or the “Company”) (TSXV:NVH) (FWB:3NH), a global stem cell biotechnology company, announced today that its MyHeart™ platform has been selected as 2018’s “Best New Technology Solution – Drug Development” by MedTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the global health and medical technology market.
“The spirit of the MedTech Breakthrough Awards program is in the recognition of truly innovative healthcare and medical technologies and solutions,” said James Johnson, Managing Director, MedTech Breakthrough. “Novoheart strongly displays that spirit of innovation in pioneering its MyHeart™ platform, a powerful solution for drug development. We are thrilled to recognize Novoheart for its passion and expertise in developing the technology and helping improve the advancement of the drug development process.”
The mission of the annual MedTech Breakthrough Awards is to honor excellence and recognize innovation, diligence, and success in a range of health and medical technology categories, including Robotics, Clinical Administration, Telehealth, Patient Engagement, Electronic Health Records (EHR), mHealth, Medical Devices, Medical Data and many more. This year’s program attracted more than 3,000 nominations from over 12 different countries across the globe. Previous award winners include HP, Nike, IBM Watson, Apple and WebMD.
Novoheart’s fluid-ejecting, three-dimensional ‘human heart-in-a-jar’ is the only technology on the market to date that enables the clinically informative assessment of human cardiac pump performance, such as cardiac output, developed pressure, stroke volume, and ejection fraction, which no other engineered heart tissue on the market is capable of. Its recently announced, second-generation, ‘human heart-in-a-jar 2.0’, demonstrated a substantial increase in efficiency, throughput, sensitivity and accuracy, compared to the first generation. This marked enhancement was achieved through a combination of custom-designed hardware and software developed to complement the best-in-class ‘human ventricular Cardiac Organoid Chamber’ or hvCOC.
“This award is a fantastic validation of our team’s dedication to innovation,” said Dr. Ronald Li, Co-founder & CEO, Novoheart. “We are very grateful for the industry recognition, and will continue to dedicate our efforts to ensuring thatpromising new drug candidates can be identified more quickly and accurately, for safe and effective benefit to patients.”
Novoheart is a global stem cell biotechnology company pioneering an array of next-generation human heart tissue prototypes. It is the first company in the world to have engineered miniature living human heart pumps that can revolutionize drug discovery, helping to save time and money for developing new therapeutics. Also known as ‘human heart-in-a-jar’, Novoheart’s bio-artificial human heart constructs are created using state-of-the-art and proprietary stem cell and bioengineering approaches and are utilized by drug developers for accurate preclinical testing as to the effectiveness and safety of new drugs, maximizing the successes in drug discovery whilst minimizing costs and harm caused to patients.
For further information, please contact:
Ronald Li, CEO
Babak Pedram, Investor Relations
Virtus Advisory Group
For media enquiries or interviews, please contact:
Josh Stanbury, Media Relations
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the Company’s future plans, its goals and expectations, and the potential applications of its MyHeartTM platform are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the management discussion and analysis section of Novoheart Holdings Inc.’s interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.