FRISCO, TEXAS, Mar 31, 2011 (MARKETWIRE via COMTEX News Network) -- Allezoe Medical Holdings, Inc. (OTCBB: ALZM), a publicly traded holding company in the medical device market, and sole shareholder of Organ Transport Systems, Inc., today reported that it has received an initial investment to continue preparing its Life Cradle(R) technology for clinical trials. According to Michael Holder, Chairman and CEO of Allezoe, “This initial investment will allow us to further our clinical trial preparations and provides bridge financing while we are negotiating a larger capital infusion from institutional investors to support the trials.”
Allezoe was recently created as a result of the acquisition of Organ Transport Systems, Inc. by a small public company, Stanford Management, Ltd., which also changed its name to Allezoe. That acquisition closed on February 18, 2011, as reported in a Form 8-K filed with the SEC on February 28, 2011. The current management of the Company assumed their positions on February 18, 2011 as part of the acquisition and previously had been a part of the OTS management team and board of directors for over seven years.
Organ Transport Systems, Inc. was founded in 1999 and is focused on the development and commercialization of its LifeCradle(R) organ preservation technology. Mr. Holder also stated, “Organ Transport has been in existence for nearly 12 years, has had more than $10 million invested in it over the years in the research and development of the LifeCradle(R), and is now working to raise additional capital from private sources to fund the final FDA clinical trials so we can bring the LifeCradle(R) to market. Over those years, the greater OTS team has worked diligently to evolve four generations of LifeCradle(R) heart preservation devices resulting in our current LifeCradle(R) prototype, proprietary liquid perfusion solutions and a strong intellectual property portfolio. Through sponsored research with leading academic research centers such as University of Texas Southwestern Medical Center, the LifeCradle(R) has been tested in more than 225 animal heart preservation experiments as well as over 15 discarded human heart experiments, leading to peer reviewed and published articles in the Journal of Transplantation and the Journal of Heart and Lung Transplantation as well as presentations by the OTS research collaborators at national and international meetings like the International Society for Heart and Lung Transplantation Conferences and the American Association of Thoracic Surgery. In the pre-clinical experiments, researchers have concluded that the LifeCradle(R) significantly extends the useful life of hearts and provides a healthier heart after similar time periods of preservation compared to the current standard of care of heart preservation (i.e. static, cold storage in “a picnic cooler” on ice). We have assembled a team of very distinguished transplant surgeons from leading transplant centers and other highly-regarded transplant industry specialists to be a part of our Clinical Trial Steering Committee and Medical Advisory Board. We have also met with and established favorable relations with over 25 of the leading transplant centers in the U.S. and Europe, many of which we plan to include in our FDA trial. In effect, OTS is the life work and the passion of the OTS/Allezoe teams. We are extremely committed and motivated to get the LifeCradle(R) heart and other organ devices and perfusion solutions cleared by the FDA to not only address a large market and business opportunity, but, more importantly, to address the shortage of organs in transplantation which is causing unnecessary human suffering and loss of life. The OTS/Allezoe team is similarly excited about our plans to complete future acquisitions of medical technology companies which have both promising business opportunities and which can positively impact humanity.”
Allezoe has recently received information from a number of sources regarding an apparent stock promotion program promoting its common stock, that has been initiated and is being maintained by unrelated parties without the involvement, knowledge, consent, or participation of the Company. Part of the promotion appears to be based on a written “advertisement” being distributed to potential market investors which contains multiple outrageous and unfounded claims and assertions regarding Allezoe Medical Holdings and its subsidiary, Organ Transport Services, Inc. The advertisement also claims that all of the statements made regarding Allezoe have been “approved for public dissemination” by Solstice Capital, Inc., and that Solstice Capital, Inc. paid for the advertisement “to provide public awareness for ALZM”.
For the record, neither Allezoe nor Organ Transport Systems, or any officer, director, employee or agent of either, has authorized, paid for, or approved this advertisement, has never had any contact or dealings of any kind, directly or indirectly, with Solstice Capital, Inc. or anyone involved with the preparation or distribution of this advertisement, and expressly repudiates the advertisement in its entirety. Investors, shareholders and the investing public are cautioned about purchasing stock in Allezoe Medical Holdings based on this advertisement or any related sales efforts by unrelated third parties. The Company itself is not currently offering or selling any common stock publicly and has not authorized or paid for any person or entity to act on its behalf in connection with any sales or promotional efforts related to its common stock. Any information regarding the Company which is authorized and approved for public distribution will be issued by the Company itself as a press release or public filing with the SEC.
Michael Holder, President and CEO of Allezoe Medical Holdings, stated: “It is unfortunate that both the investing public and a small public company such as Allezoe have become targets of what appears to be a promotional stock scheme based on misrepresentations and exaggerations about the Company. We have already had contact with regulatory authorities regarding this matter and have advised that the Company is not part of the promotion, did not authorize it, did not pay for it, did not approve any promotional materials, and believes the advertisement is materially false and misleading. We have also confirmed that, to the Company’s knowledge, no officer, director, employee, or consultant of the Company has offered or sold any of its or their shares in this promotion. In any case, none of the shares issued recently as part of the acquisition of OTS by Allezoe are free trading and will not be able to trade for many months.”
FORWARD LOOKING STATEMENT
This announcement is not an offer to sell any Allezoe (“ALZM”) related securities. Offers for any given security are made only through applicable offering circulars and related documents filed with the SEC pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of ALZM may contain “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as “intends”, “anticipates”, “believes”, “expects”, and “hopes” and includes, without limitation, statements regarding ALZM’s plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Also, our management may make forward-looking statements orally to investors, analysts, the media and others. Forward-looking statements express our expectations or predictions of future events or results. They are not guarantees and are subject to many risks and uncertainties. There are a number of factors beyond our control that could cause actual events or results to be significantly different from those described in the forward-looking statements. Any or all of our forward-looking statements in this report or in any other public statements we make may turn out to be wrong. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.
Contacts: Allezoe Medical Holdings, Inc. Media Department 214-290-8031 media@allezoe.com
SOURCE: Allezoe Medical Holdings, Inc.
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