BOCA RATON, FL--(Marketwire - October 20, 2010) - David H. Fater, CEO of Vicor Technologies, Inc. (OTCBB: VCRT), today announced that on October 12, 2010 the U.S. Patent Office issued United States Patent #7,811,992 to Vicor for the use of a molecule discovered using the Company's novel drug discovery platform. The molecule covered by the patent has been shown to diminish the size and severity of infarctions associated with acute myocardial infarctions (heart attacks) and strokes.
"The molecule for which this patent was issued addresses two major therapeutic areas -- heart attacks and strokes -- that represent a vast market opportunity for Vicor. Receipt of this patent is an important milestone for Vicor as this is the first United States patent awarded to Vicor for its drug discovery platform," stated Mr. Fater.
Vicor has filed several patent applications associated with its state-dependent drug discovery platform, which identifies peptides and proteins derived from variations in physiologies of an animal during hibernation (as compared with an animal not in hibernation). This platform may be used to advance the treatment of an array of human disease states, including stroke (cerebral ischemia), heart attack (cardiac ischemia), kidney failure, hypertension, obesity, cancer, and organ transplant/preservation. It also has the potential to reduce the cost, time, and risk associated with bringing related pharmaceuticals to market. Vicor has received 12 international patents related to this platform; countries from which Vicor has received patents include Armenia, Australia, Russia, and South Africa. In 2003, to conserve cash and focus on obtaining 510(k) marketing clearance from the U.S. Food and Drug Administration for diagnostics using its patented, proprietary PD2i nonlinear algorithm, Vicor suspended research related to its drug discovery platform. Research related to Vicor's drug discovery platform remains in the pre-clinical testing phase as the Company awaits additional patent issuances and sufficient funding to continue research related to its drug discovery platform.
"While the studies that have prompted filing for patents associated with our drug discovery platform have only been performed in animals on a pre-clinical basis, this is very positive news. This patent provides us with protection for our advancements in the treatment of acute myocardial infarctions and strokes. With this protection, we can evaluate the most appropriate strategy to generate shareholder value for this platform," stated Mr. Fater.
About Vicor Technologies, Inc.
Vicor Technologies is a biotechnology company creating innovative non-invasive diagnostics employing its patented, proprietary point correlation dimension algorithm (PD2i®). The PD2i® nonlinear algorithm is a deterministic, nonlinear measure of electrophysiological potentials that predicts future pathological events with a high degree of accuracy in target populations.
Vicor currently has three products employing the PD2i® nonlinear algorithm. The PD2i Analyzer™, which has FDA 510(k) marketing clearance, measures heart rate variability; physicians performing diagnostic tests with the PD2i Analyzer™ are able to receive reimbursement under existing CPT codes. 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 sudden cardiac death.
Vicor anticipates additional applications employing the PD2i® nonlinear algorithm to enable early detection and risk stratification for a variety of other disorders and diseases.
Vicor is also engaged in the pre-clinical and early clinical development of specific occurring peptides and proteins derived from "state-dependent" physiologies to advance the treatment of an array of human conditions -- e.g., stroke ischemia, cardiac ischemia, kidney failure, hypertension, obesity, and cancer, organ transplant/preservation -- by reducing the cost, time, and risk associated with bringing potential products to market.
Additional information is available at www.vicortech.com.
The appearance in this release of name-brand institutions or governmental entities, such as the U.S. Patent Office, U.S. Food and Drug Association, or U.S. Army Institute for Surgical Research, does not constitute endorsement by these organizations 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 strategically develop the new patent for our new drug discovery technology; our ability to successfully complete the normal range study for PD2i®values; our ability to generate revenues from the sale of the PD2i Analyzer™; our ability to obtain FDA approval of our 510(k) submission to secure a claim for the PD2i CA™(Cardiac Analyzer) for risk stratifying congestive heart failure patients at elevated risk of cardiac mortality and our ability to obtain marketing clearance from the FDA for the PD2i VS™ (Vital Sign) for military and civilian applications; our ability to develop additional applications for the PD2i® algorithm; our ability to continue to receive financing sufficient to continue operations and complete 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 other matters that are described in Vicor's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 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.