MONTGOMERY, Texas--(BUSINESS WIRE)--Endovasc, Inc. (OTCBB:EVSC) is pleased to announce that it has created a new wholly owned subsidiary BioFlow, Inc. to manage the continued development of biodegradable stents. Endovasc, Inc. and Dr. Nathan Blumberg have jointly transferred the intellectual property from both of the previous Joint Ventures involving TissueGen Inc. into the new subsidiary BioFlow, Inc.
The first project is to develop a biodegradable urinary stent for ureteral application. Dr. Blumberg will continue to contribute his expertise to develop and ultimately commercialize novel biodegradable stents for ureteral applications. A unique product design conceived by Dr. Blumberg will be incorporated into the device. BioFlow, Inc. will manage product definition and the development process through a Sponsored Laboratory Research Agreement. The objective of this project is to develop biodegradable ureteral and urethral stents that can be degraded in the body within 7-14 days after a procedure. All intellectual property developed under this research agreement is assigned to BioFlow, Inc.
About Endovasc, Inc.
Endovasc, Inc. is focused on developing and commercializing drug candidates in the areas of cardiovascular and metabolic medicine. Endovasc is organized as a business development company, and owns interests in three portfolio companies: Liprostin Inc., which holds the intellectual property for a liposomal based treatment to increase circulation and reduce leg pain in patients suffering from vascular disease; Prostent, Inc., which is developing a stent coating technology; and Nutraceutical Development Corporation.
For more information about Endovasc, please visit www.endovasc.com.
Safe Harbor Statement
The foregoing statements are made under the "Safe Harbor" Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements that involve risks and uncertainties that may not be evident at the time of this release.
Dr. Diane Dottavio, 936-582-5920