SUNRISE, Fla., Aug. 21 Bioheart, Inc.,(Nasdaq: BHRT) a company committed to delivering intelligent devices andbiologics that help monitor, diagnose and treat heart failure andcardiovascular diseases, today announced receipt of a $1 million unsecuredloan from Rogers Telecommunications Limited. This loan is payable upon thelater of three months or Bioheart's repayment of its loan from BlueCrestCapital. In addition, under certain circumstances, the Company may bepermitted to pay outstanding interest and principal in shares of its commonstock. The loan will be used for Bioheart's ongoing clinical and businessoperations, as the Company continues to actively pursue additional investmentsupport.
"We are grateful for the support offered by Rogers TelecommunicationsLimited and its recognition of the important clinical work we are doing forheart failure patients," said Howard J. Leonhardt, Chairman and ChiefExecutive Officer of Bioheart, Inc. "We hope to soon introduce intelligentdevices that offer synergies with our clinical therapies and provide criticalat-home monitoring of these patients."
Bioheart recently announced its plan to enter the device market as acomplement to its MyoCell(R) Clinical Therapy program, which targets patientswith congestive heart failure.
-- On August 1, 2008, the Company announced it entered into a non-bindingletter of intent to acquire MEDICALGORITHMICS, Ltd. and the worldwide rightsto the POCKETECG, a real-time wireless beat-to-beat, intelligent heart monitorand diagnostic system, designed for long-term, fully-automatedelectrocardiogram (ECG) arrhythmia and AFib analysis. The device,manufactured by MEDICALGORITHMICS, Ltd., Poland, recently received CE markapproval for marketing throughout Europe.
-- On July 10, 2008 the Company announced that it secured worldwidenon-exclusive distribution rights to the Bioheart 3370 Heart Failure Monitor,an interactive and simple-to-use at-home intelligent device designedspecifically to improve available healthcare to patients outside hospitals whoare suffering from heart failure. The device, manufactured by RTX HealthcareA/S (Denmark), has 510(k) market clearance from the U.S. Food and DrugAdministration for marketing in the U.S. and CE mark approval for marketing inEurope and other countries that follow this mark.
About Bioheart, Inc.:
Bioheart, Inc. (Nasdaq: BHRT) is committed to delivering intelligentdevices and biologics that help monitor, diagnose and treat heart failure andcardiovascular diseases. Its goals are to improve a patient's quality of lifeand reduce health care costs and hospitalizations. Specific to biotechnology,Bioheart is focused on the discovery, development and, subject to regulatoryapproval, commercialization of autologous cell therapies for the treatment ofchronic and acute heart damage. Its lead product candidate, MyoCell(R), is aninnovative clinical muscle-derived stem cell therapy designed to populateregions of scar tissue within a patient's heart with new living cells for thepurpose of improving cardiac function in chronic heart failure patients. TheCompany's pipeline includes multiple product candidates for the treatment ofheart damage, including Bioheart Acute Cell Therapy, an autologous, adiposetissue-derived stem cell treatment for acute heart damage, and MyoCell(R)SDF-1, a therapy utilizing autologous cells that are genetically modified toexpress additional potentially therapeutic growth proteins. For moreinformation on Bioheart, visit http://www.bioheartinc.com.
MyoCell, MyoCell SDF-1 and MyoCath are trademarks of Bioheart, Inc.
Except for historical matters contained herein, statements made in thispress release are forward-looking and are made pursuant to the safe harborprovisions of the Private Securities Litigation Reform Act of 1995. Withoutlimiting the generality of