VANCOUVER, British Columbia, May 31, 2018 (GLOBE NEWSWIRE) — Novoheart (“Novoheart” or the “Company”) (TSX-V:NVH) (FWB:3NH), a global stem cell biotechnology company, announced today that it has become a member of the Cardiac Safety Technical Committee of the Health and Environmental Sciences Institute (HESI), an industry-led, international consortium including major pharmaceutical and biotechnology companies that aims to advance innovative approaches for early detection, prediction, and elimination of cardiac risk in drug development.
HESI engages stakeholders from industry, academia, government and NGOs to advance the understanding of scientific issues related to human health, toxicology, and risk assessment. Recognizing the limitations of traditional cardiac safety assays in animal or simple cellular models, a major factor contributing to the high failure rates in drug development, HESI has partnered with the US Food and Drug Administration (FDA) and global regulatory bodies on the Comprehensive In Vitro Proarrhythmia Assay (CiPA) initiative, focusing on developing new and superior preclinical cardiac safety predictive paradigms.
Leveraging its established expertise in cardiac toxicity testing with its unique MyHeartTM Platform of bioengineered human heart tissues (including the world’s first “human heart-in-a-jar”), Novoheart’s membership on the Cardiac Safety Committee and active participation in related Working Groups positions the Company to help define future industry and regulatory standards for effective cardiotoxicity screening of all newly developed drugs.
“HESI’s mission aligns well with Novoheart’s core strengths and expertise.” said Ronald Li, Novoheart CEO. “We are delighted to serve on the Cardiac Safety Committee and contribute to this industry-wide, global initiative of delivering safer drugs to the market.”
For more information on HESI, visit www.hesiglobal.org. For more information on the CiPA initiative, visit cipaproject.org.
About Novoheart:
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
info@novoheart.com
Babak Pedram, Investor Relations
Virtus Advisory Group
Tel: 416-995-8651
bpedram@virtusadvisory.com
For media enquiries or interviews, please contact:
Josh Stanbury, Media Relations
Tel. 416-628-7441
media@novoheart.com
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.
Cautionary Note Regarding Forward-Looking Statements
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.
