Vicor Technologies, Inc. Announces Sale of Convertible Notes

BOCA RATON, FL--(Marketwire - July 21, 2009) - Vicor Technologies, Inc. (OTCBB: VCRT) today announced the sale of $1.505 million principal amount, 8% convertible notes due in 2011. Vicor is a biotechnology company focused on the commercialization of innovative, non-invasive medical devices and diagnostics using its patented, proprietary PD2i algorithm and software to stratify patients at risk of sudden cardiac death and trauma victims in need of life saving intervention.

Together with the earlier sale of $740,000 principal amount, 8% convertible notes (announced 5/7/09), Vicor has this year sold an aggregate total of $2,245,000 principal amount, 8% convertible notes due in 2011.

“We are pleased to have secured this significant additional financing, especially given the continuing turbulence in the U.S. market,” stated David H. Fater, CEO. “We are gratified by our investors’ confidence in the promise of Vicor’s proprietary PD2i algorithm to become a new vital sign for diagnosing the treatment needs of significant at-risk populations,” he continued. “We believe that with the completion of the sale of the 8% notes, we should have sufficient capital to execute on the remainder of our 2009 strategic plan, advance commercialization of our first three PD2i diagnostic products, and begin generating revenues,” Mr. Fater concluded.

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.) The PD2i is a deterministic, non-linear measure that analyzes electrophysiological potentials to predict future pathological events with a high degree of accuracy in target populations.

Vicor currently has three products employing the PD2i algorithm. The PD2i Analyzer, which has FDA 510(k) marketing clearance, measures heart rate variability and will be commencing a clinical trial to determine its efficacy to detect the presence of diabetic autonomic neuropathy (DAN). 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 continue to receive financing sufficient to continue operations and 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 other matters that are described in Vicor’s Annual Report on Form 10-KSB 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 09-10

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