BOCA RATON, FL--(Marketwire - May 28, 2009) - Vicor Technologies, Inc. (OTCBB: VCRT) today
announced that it entered into an OEM product agreement with Nasiff
Associates, Inc. to integrate its PD2i software into Nasiff's Cardio Card
ECG. Vicor Technologies is a development-stage biotechnology company
focused on the commercialization of non-invasive diagnostic products using
its patented, proprietary PD2i algorithm and software to analyze heart rate
variability and identify individuals at risk of sudden cardiac death,
trauma victims requiring immediate life saving intervention, and diabetics
at risk of developing diabetic autonomic neuropathy.
Under the agreement, entered into on May 12, 2009, Nasiff will manufacture
the PD2i Cardiac Analyzer ECG for sale to physicians by Vicor and Nasiff
under joint marketing rights. Both parties have agreed to develop and
coordinate a joint marketing plan to promote this new product.
"We're very pleased to be working with Nasiff -- the developer of the
world's first PC ECG -- to commercialize the PD2i Analyzer, the first of
our PD2i applications to receive FDA 510(k) marketing clearance. A leading
producer of medical diagnostic products linked to PCs, Nasiff will capture
the precision of our PD2i algorithm in an easy-to-use diagnostic tool,"
stated Mr. Fater, Vicor's President and CEO. "It is expected that Vicor
will receive revenue from both the sale of the equipment and from the
analysis of the test results. Given the relatively low cost and ease of
use of the PD2i Cardiac Analyzer ECG, we anticipate speedy adoption by a
variety of physicians who value accurate measurement of heart rate
variability as a diagnostic tool for a wide range of conditions," Mr. Fater
About Nasiff Associates, Inc.
Established in 1989 to develop the world's first PC ECG/PC EKG, Nasiff
Associates, is a medical technology company committed to providing medical
PC solutions to healthcare professionals by developing medical diagnostic
and administrative products, which integrate into any personal computer.
About Vicor Technologies, Inc.
Vicor Technologies is a development-stage biotechnology company creating
innovative non-invasive diagnostics employing its patented, proprietary
point correlation dimension algorithm (PD2i) and software. The PD2i is a
deterministic, non-linear analytic measure that accurately evaluates
biological signals o predict with high sensitivity and high specificity
future pathological events in target populations.
Vicor currently has three products employing the PD2i algorithm. The PD2i
Analyzer, now in commercialization, measures heart rate variability. The
PD2i VS (Vital Sign), in clinical trials under a collaborative effort with
the U.S. Army Institute for Surgical Research
(http://www.usaisr.amedd.army.mil/), risk stratifies combat and civilian
trauma victims. The PD2i CA (Cardiac Analyzer), in multiple clinical
trials, identifies patients at risk of suffering sudden cardiac death.
Vicor anticipates additional applications employing the PD2i to enable
early detection and risk stratification for a variety of other disorders
and diseases. Additional information is available at www.vicortech.com.
The appearance of name-brand institutions or products in this media release
does not constitute endorsement by the U.S. Army Medical Research and
Materiel Command, the Department of the Army, Department of Defense or the
U.S. Government of the information, products or services contained therein.
Caution Regarding Forward-Looking Statements
Forward-looking statements in this press release are based on current plans
and expectations that are subject to uncertainties and risks, which could
cause our future results to differ materially. The following factors,
among others, could cause our actual results to differ: our ability to
obtain FDA approval of the PD2i VS for military and civilian applications
and the PD2i Cardiac Analyzer; our ability to continue to receive financing
sufficient to complete the critical clinical trials; our ability to
continue as a going concern; our ability to successfully develop products
based on our technologies; our ability to obtain and maintain adequate
levels of third-party reimbursement for our products; the impact of
competitive products and pricing; our ability to receive regulatory
approval for our products; the ability of third-party contract research
organizations to perform preclinical testing and clinical trials for our
technologies; the ability of third-party manufacturers to manufacture our
products; our ability to retain the services of our key personnel; our
ability to market and sell our products successfully; our ability to
protect our intellectual property; product liability; changes in federal
income tax laws and regulations; general market conditions in the medical
device and pharmaceutical industries; and changes in laws and regulations
and other matters that are described in Vicor's Annual Report on Form 10-K
for the fiscal year ended December 31, 2008 and subsequent filings with the
Securities and Exchange Commission. Forward-looking statements in this
press release speak only as of the date of the press release, and we assume
no obligation to update forward-looking statements or the reasons why
actual results could differ.