SALT LAKE CITY, Jan. 16 /PRNewswire/ -- LipidViro Tech, Inc. , a development-stage medical device company, announced that it has selected Allen & Caron, Inc. as its agency for investor relations and corporate communications.
Founded in 2003 Salt Lake City-based LipidViro Tech is engaged in research and commercial development of d-OSAB, a multi-therapeutic platform for which it owns the technology and intellectual property. The Company's first commercial therapeutics target ischemic brain stroke and chronic heart failure, diseases with few viable treatment options and markets exceeding $20 billion annually in the US & EU.
"As we initiate clinical trials for ischemic brain stroke, we realize that clear, consistent and continual communication with our investors is paramount," commented Ken Hamik, LipidViro Tech CEO. "After a full review of several agencies, we chose Allen & Caron due to their solid reputation and history of increasing client profiles among institutional investors, which is part and parcel of any plan to attract qualified investors."
"While LipidViro Tech is in the early stages of development, there are volumes of literature supporting their therapeutic approach," commented Joe Allen, Allen & Caron Chairman and CEO. "We feel LipidViro's story will be very interesting to investors as we begin our outreach to Wall Street."
About Allen & Caron
Allen & Caron is a full-service corporate, investor and marketing communications agency serving the needs of public companies. The Allen & Caron international client base includes emerging growth companies in a range of industry segments. It maintains offices in Irvine, California, New York City, London and Paris.
About LipidViro Tech, Inc.
LipidViro Tech, Inc. is an early-stage biotechnology company engaged in research and commercial development of d-OSAB, a multi-therapeutic device-based platform. The Company's first commercial therapeutics target Ischemic Brain Stroke and Chronic Heart Failure.
During 2007 LipidViro is scheduled to commence a 100-patient Phase IIa study treating patients who have suffered an ischemic brain stroke. d-OSAB targets the untreated stroke population estimated to exceed 94% of individuals afflicted with ischemic stroke.
Stroke is the second leading cause of death worldwide, responsible for 4.4 million deaths each year. Annually, stroke strikes more than 1.7 million people in the U.S. and EU. Seven percent of ischemic stroke patients die within 30 days, 25% die within one year. More than 50% of surviving patients have permanent disabilities that require nursing home or other long-term care. The single approved therapeutic for ischemic brain stroke patients is Tissue Plasminogen Activator (tPA). Patients are only eligible for tPA during a three-hour window from time of stroke; tPA use after three hours causes bleeding in the brain which may prove fatal. Consequently, approximately 6% of US stroke patients and less than 1% of EU stroke patients utilize tPA.
Forward-looking Statements
This release contains forward-looking statements concerning plans, objectives, goals, strategies, future events or performance, which are not statements of historical fact. The forward-looking statements contained in this release reflect our current beliefs and expectations. Actual results or performance may differ materially from what is expressed in the forward-looking statements. Readers are referred to the documents filed by us with the SEC, specifically reports on Form 10-K and Form 10-Q including risk factors that could cause actual results to differ from forward-looking statements. These reports are available at www.sec.gov.
Contact: Allen & Caron (investors) LipidViro Tech, Inc. Jesse Deal Linda Sharkus, PhD 212 691 8087 732 280 8425 jesse@allencaron.comlcs@lipidviro.com
Allen & CaronCONTACT: Investors, Jesse Deal of Allen & Caron, +1-212-691-8087,jesse@allencaron.com; or Linda Sharkus, PhD, of LipidViro Tech, Inc.,+1-732-280-8425, lcs@lipidviro.com
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