SUNRISE, FL--(Marketwired - December 03, 2013) - Bioheart, Inc. (OTCQB: BHRT), a biotechnology company focused on the discovery, development, and commercialization of autologous cell therapies, has entered into an investment banking agreement with Cassel Salpeter & Co. as its exclusive financial advisor in connection with investment banking matters. Among other activities as part of the 24-month agreement, Cassel Salpeter will help Bioheart raise capital.
"Bioheart has great potential and technology that can be commercialized with the right partners and capital," said James Cassel, chairman and co-founder of Cassel Salpeter, a national independent investment banking firm that provides advisory services to middle-market and emerging growth companies. "We look forward to helping the Bioheart team identify and evaluate various financial opportunities and strategic relationships."
Bioheart has been treating patients with cell therapy since 2001 and continues to lead the field with ground breaking trials and results. Bioheart's MyoCell therapy has been successfully administered to hundreds of patients. Bioheart is the first company to receive clearance from the FDA for a Phase I study (REGEN trial) using a combined cell and gene therapy product (MyoCell-SDF-1). In addition, Bioheart has successfully utilized adipose derived stem cells in a variety of indications since 2006.
"Cassel Salpeter's team has an impressive track record spanning more than 50 years that includes successfully handling numerous capital-raising transactions and providing advisory services to companies in a full spectrum of industries," said Mike Tomas, Bioheart's president and CEO. "The firm also has extensive knowledge of Florida's entrepreneurship ecosystem and has assisted many small and middle-market public companies in the state."
About Cassel Salpeter & Co.
Cassel Salpeter & Co. is an independent investment banking firm that provides advice to middle-market and emerging growth companies in the U.S. and worldwide. Together, the firm's professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. For more information, visit www.casselsalpeter.com. Member SIPC & FINRA.
About Bioheart Inc.
Bioheart Inc. is committed to maintaining its leading position within the cardiovascular sector of the cell technology industry delivering cell therapies and biologics that help address congestive heart failure, lower limb ischemia, chronic heart ischemia, acute myocardial infarctions and other issues. Bioheart's goals are to cause damaged tissue to be regenerated, when possible, and 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 and peripheral vascular disease. Its leading product, MyoCell, is a clinical muscle-derived 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. For more information on Bioheart, visit www.bioheartinc.com, or visit us on Facebook: Bioheart and Twitter @BioheartInc.
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Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The Company is 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, 2012, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2013.