Vicor Technologies, Inc. Announces OEM Agreement With Nasiff Associates, Inc.

May 28, 2009 |

4 min read

BOCA RATON, FL--(Marketwire - May 28, 2009) - Vicor Technologies, Inc. (OTCBB: VCRT) today announced that it entered into an OEM product agreement with Nasiff Associates, Inc. to integrate its PD2i software into Nasiff’s Cardio Card ECG. Vicor Technologies is a development-stage biotechnology company focused on the commercialization of non-invasive diagnostic products using its patented, proprietary PD2i algorithm and software to analyze heart rate variability and identify individuals at risk of sudden cardiac death, trauma victims requiring immediate life saving intervention, and diabetics at risk of developing diabetic autonomic neuropathy.

Under the agreement, entered into on May 12, 2009, Nasiff will manufacture the PD2i Cardiac Analyzer ECG for sale to physicians by Vicor and Nasiff under joint marketing rights. Both parties have agreed to develop and coordinate a joint marketing plan to promote this new product.

“We’re very pleased to be working with Nasiff -- the developer of the world’s first PC ECG -- to commercialize the PD2i Analyzer, the first of our PD2i applications to receive FDA 510(k) marketing clearance. A leading producer of medical diagnostic products linked to PCs, Nasiff will capture the precision of our PD2i algorithm in an easy-to-use diagnostic tool,” stated Mr. Fater, Vicor’s President and CEO. “It is expected that Vicor will receive revenue from both the sale of the equipment and from the analysis of the test results. Given the relatively low cost and ease of use of the PD2i Cardiac Analyzer ECG, we anticipate speedy adoption by a variety of physicians who value accurate measurement of heart rate variability as a diagnostic tool for a wide range of conditions,” Mr. Fater concluded.

About Nasiff Associates, Inc.

Established in 1989 to develop the world’s first PC ECG/PC EKG, Nasiff Associates, is a medical technology company committed to providing medical PC solutions to healthcare professionals by developing medical diagnostic and administrative products, which integrate into any personal computer.

About Vicor Technologies, Inc.

Vicor Technologies is a development-stage biotechnology company creating innovative non-invasive diagnostics employing its patented, proprietary point correlation dimension algorithm (PD2i) and software. The PD2i is a deterministic, non-linear analytic measure that accurately evaluates biological signals o predict with high sensitivity and high specificity future pathological events in target populations.

Vicor currently has three products employing the PD2i algorithm. The PD2i Analyzer, now in commercialization, measures heart rate variability. The PD2i VS (Vital Sign), in clinical trials under a collaborative effort with the U.S. Army Institute for Surgical Research (http://www.usaisr.amedd.army.mil/), risk stratifies combat and civilian trauma victims. The PD2i CA (Cardiac Analyzer), in multiple clinical trials, identifies patients at risk of suffering sudden cardiac death.

Vicor anticipates additional applications employing the PD2i to enable early detection and risk stratification for a variety of other disorders and diseases. Additional information is available at www.vicortech.com.

The appearance of name-brand institutions or products in this media release does not constitute endorsement by the U.S. Army Medical Research and Materiel Command, the Department of the Army, Department of Defense or the U.S. Government of the information, products or services contained therein.

Caution Regarding Forward-Looking Statements

Forward-looking statements in this press release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The following factors, among others, could cause our actual results to differ: our ability to obtain FDA approval of the PD2i VS for military and civilian applications and the PD2i Cardiac Analyzer; our ability to continue to receive financing sufficient to complete the critical clinical trials; our ability to continue as a going concern; our ability to successfully develop products based on our technologies; our ability to obtain and maintain adequate levels of third-party reimbursement for our products; the impact of competitive products and pricing; our ability to receive regulatory approval for our products; the ability of third-party contract research organizations to perform preclinical testing and clinical trials for our technologies; the ability of third-party manufacturers to manufacture our products; our ability to retain the services of our key personnel; our ability to market and sell our products successfully; our ability to protect our intellectual property; product liability; changes in federal income tax laws and regulations; general market conditions in the medical device and pharmaceutical industries; and changes in laws and regulations and other matters that are described in Vicor’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and subsequent filings with the Securities and Exchange Commission. Forward-looking statements in this press release speak only as of the date of the press release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ.

Release 09-09