SANTA CLARA, Calif., Aug. 18 NewCardio, Inc.,(OTC Bulletin Board: NWCI) a cardiac diagnostic and services company, todayannounced that Vincent W. Renz has joined NewCardio as its president. Mr. Renzwill oversee the Company's commercialization effort, to include businessdevelopment, client services, software development, and quality assurance. Inaddition, he will play a key role in developing strategic partnerships andalliances. Mr. Renz will report directly to Branislav Vajdic, Ph.D., whocontinues as the Company's Chief Executive Officer.
Mr. Renz has more than 26 years of experience in the informationtechnology industry, specifically in the development and commercialization oftechnology products and services. He joins NewCardio from ClinPhone, theworld's leading Clinical Technology Organization recently acquired by PAREXELInternational Corporation, a leading global biopharmaceutical servicesorganization. At ClinPhone, Mr. Renz served as Chief Operating Officer.Previously, he worked for eResearch Technology, Inc. as the Executive VicePresident and Chief Technology Officer and played a key role in buildingeResearch Technology's clinical technology business. Mr. Renz was alsoinstrumental in developing the global business development and client servicesinfrastructure to support the company's rapid growth and profitability. Mr.Renz earned an M.B.A. in Management Information Systems from IndianaUniversity and a B.B.A. in Finance from the University of Notre Dame.
Dr. Vajdic commented, "With the validation of QTinno(TM), our leadproduct, essentially complete, this announcement marks the first step in ouraggressive commercialization effort. Adding an industry leader like Vinnie toour team is a win for NewCardio, its employees, customers and shareholders. Hebrings proven skills in the life Sciences, health care and informationtechnology industries, with particular expertise in business development,partnership formation and support of innovative software-based technologies.He adds deep understanding of the clinical trials industry, productdevelopment life cycle, and the proven ability to create business developmentand customer service teams. This expertise should prove invaluable as westrive to add clinical and diagnostic value to the hundreds of millions ofECGs performed every year in health care settings, clinical trials and lifescreening settings."
Mr. Renz added, "It is clear to me that NewCardio's three-dimensionalsoftware platform has the potential to become a game changing technology withmany applications targeting large, rapidly growing, underserved markets. As anexample the Company's initial product, QTinno(TM), promises much-neededautomation to replace a costly, labor-intensive process in cardiac safetyassessment in clinical research; particularly in large scale thorough QTstudies that are required for all compounds prior to FDA submission. I believeQTinno(TM) will be quickly embraced by drug sponsors who are looking toaccelerate clinical trials and cut costs, while ensuring regulatorycompliance. I also believe contract research organizations looking to expandtheir product and service offerings in order to increase margins and competemore effectively for market share will embrace the product, as well.Government regulators are also looking for processes which provide moreprecise, predictable and rapid data, as evidenced by the FDA's participationin the Cardiac Safety Research Consortium. Beyond this lead product, thetechnology has the potential to advance the diagnostic capability of thetraditional electrocardiogram (ECG) to address a broader range of cardiac careto include patient monitoring, emergency room diagnosis, and life screeningdiagnosis by providing automated, high quality, assessment data and predictivemarkers generated through the company's proprietary technology that generatesthree-dimensional models for visual review. It's an exciti