Bioheart, Inc. Announces Agreement With Invitrx, Inc. to License Adipose Derived Stem Cells
SUNRISE, FL--(Marketwired - September 23, 2013) - Bioheart, Inc. (OTCQB: BHRT), a biotech company focused on the discovery, development and commercialization of autologous cell therapies for the treatment of chronic and acute heart damage as well as severe peripheral vascular disease announces that it has entered into an agreement with Invitrx Therapeutics to license their adipose derived stem cell products. The license agreement term sheet for adipose derived cells is for use in all indications in both human and animal medicine.
Invitrx Therapeutics is a biotechnology company specializing in the culture and engineering of adult stem cells, innovative products and therapies that are used in aesthetics, wound closure, and healing, as well as, plastic and reconstructive surgery. The team at Invitrx has been working with adipose derived stem cells for over 10 years and this experience can contribute to the development and commercialization of AdipoCell (Bioheart's adipose stem cell product).
Bioheart has recently completed enrollment in the Phase I Angel Trial using adipose derived stem cells. Preliminary 3 month follow up results will be released later this quarter.
"Combining the experience and expertise of the team at Invitrx with the currently available Bioheart products will strengthen our program. We are looking forward to expanding the Angel trial and incorporating some of the newly licensed techniques," said Mike Tomas, CEO of Bioheart, Inc.
Habib Torfi, Chairman and CEO of Invitrx, said, "Invitrx Therapeutics is looking forward to join forces with Bioheart Inc. to help advance and expand the product lines and the existing clinical trials in the stem cell field."
About Bioheart, Inc
Bioheart 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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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 June 31, 2013.
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