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Bioheart, Inc. and Monebo Announce Distribution and Licensing Agreement for Heart Monitoring Technologies


10/31/2008 6:41:19 AM

SUNRISE, Fla., Oct. 30, 2008 (GLOBE NEWSWIRE) -- Bioheart, Inc. (NasdaqCM:BHRT - News) and Monebo, Inc. today announced they have signed a licensing agreement that provides Bioheart the right to distribute Monebo's heart monitoring, arrhythmia and A-Fib analysis technologies. The license agreement also includes Monebo's call center management software. Bioheart plans to immediately begin selling the CardioBelt(tm) system worldwide, including the U.S. market, as a complementary technology to the Bioheart 3370 at-home Heart Failure Monitor.

* The Bioheart-Monebo system allows heart patients to be monitored from the comfort of their own home. The system consists of the easy-to-use CardioBelt(tm) ECG Acquisition Device and ECGAnalyzer(tm) Monitoring Software. It is designed for patient ease of use, and to allow health care professionals to quickly obtain accurate information on their patient's ECG.

* The ECGAnalyzer(tm) Decision Support System is designed to aid health care professionals to interpret ECG data and risk-stratify their patients. It can be used in a real-time application or for post-processing and will run in any PC or server-based environment. ECGAnalyzer(tm) displays the ECG waveform, makes the critical measurements, and performs rhythm interpretation on up to 16 different rhythms. Utilizing the Kinetic(tm) family of ECG Algorithms, it provides highly accurate results. Additionally, a health care professional may set threshold limits for each measured parameter, helping to risk-stratify the patients for further follow-up. ECGAnalyzer(tm) can be used in conjunction with the CardioBelt(tm) ECG Acquisition Device, or as a stand- alone device to interpret up to 16 leads of ECG data.

Heart disease is the leading cause of death worldwide. According to the American Heart Association and the European Society of Cardiology Task Force for the Treatment of Chronic Heart Failure, there are an estimated 5.2 million patients with heart failure in the United States and 9.6 million in Europe.

About Bioheart, Inc.:

Bioheart, Inc. (NasdaqCM:BHRT - News) is committed to delivering intelligent devices and biologics that help monitor, diagnose and treat heart failure and cardiovascular diseases. Its goals are to improve a patient's quality of life and reduce health care costs and hospitalizations. Specific to biotechnology, Bioheart is focused on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of chronic and acute heart damage. Its lead product candidate, MyoCell(r), is an innovative clinical muscle-derived stem cell therapy designed to populate regions of scar tissue within a patient's heart with new living cells for the purpose of improving cardiac function in chronic heart failure patients. The Company's pipeline includes multiple product candidates for the treatment of heart damage, including Bioheart Acute Cell Therapy, an autologous, adipose tissue-derived stem cell treatment for acute heart damage, and MyoCell(r) SDF-1, a therapy utilizing autologous cells that are genetically modified to express additional potentially therapeutic growth proteins. For more information on Bioheart, visit http://www.bioheartinc.com.

MyoCell and MyoCell SDF-1 are trademarks of Bioheart, Inc.

About Monebo Technologies, Inc.:

Monebo Technologies, Inc. is a private company based in Austin, Texas, dedicated to developing technology to monitor and interpret the electrical activity of the heart. The company is focused on providing solutions to allow patients and physicians to manage and reduce problems associated with cardiac disease, and have developed technology for ambulatory cardiac monitoring, home care, and pharmaceutical cardiac safety trials. Monebo's proprietary digital signal processing algorithms, highly developed sensor technology, and wireless communication capabilities provide accurate real-time monitoring information, with increased patient mobility http://www.monebo.com

Forward-Looking Statements:

Except for historical matters contained herein, statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as ``may'', ``will'', ``to'', ``plan'', ``expect'', ``believe'', ``anticipate'', ``intend'', ``could'', ``would'', ``estimate'', or ``continue'' or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.

Investors and others are cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, (i) our ability to secure additional financing; (ii) the timely success and completion of our clinical trials; (iii) the occurrence of any unacceptable side effects during or after preclinical and clinical testing of our product candidates; (iv) regulatory approval of our product candidates; (v) our dependence on the success of our lead product candidate; (vi) our inability to predict the extent of our future losses or if or when we will become profitable; (vii) our ability to protect our intellectual property rights; and (viii) intense competition. The Company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled ``Risk Factors'' in its Annual Report on Form 10-K for the year ended December 31, 2007, as amended by Amendment No. 1 on Form 10-K/A and its quarterly reports on Form 10-Q for the quarters ended March 31, 2008 and June 30, 2008.

Contact:

Bioheart, Inc: William Kline, Chief Financial Officer (954) 835-1500

Monebo, Inc: Patrick Kothe, Vice President, Chief Marketing Officer (512) 732-0235 x112

RedChip Companies, Inc. Bioheart Investor Relations: Len Hardison (800) REDCHIP (733-2447), Ext. 118 info@redchip.com

Source: Bioheart, Inc.


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