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CardioVascular BioTherapeutics Engages The Bruckner Group To Find A Joint Commercialization Partner For Its FGF-1 Protein Treatment For Severe Heart Disease

Posted on: Wednesday, 28 November 2007, 09:00 CST

CardioVascular BioTherapeutics, Inc. (OTCBB: CVBT) has engaged The Bruckner Group (BGI) to assist CVBT in finding a joint commercialization partner for its drug candidate CVBT-141H to treat severe coronary heart disease (CHD). The drug contains the active pharmaceutical ingredient (API) human fibroblast growth factor -1 (FGF-1).

"We are excited to be working with The Bruckner Group to find a commercialization partner for CVBT-141H," said Daniel C. Montano, CVBT's CEO. "We chose to work with The Bruckner Group because they have an industry reputation for strategic and independent thought and highly accurate predictions. It means something in the pharmaceutical and biotechnology industries when BGI publicly takes a position," Montano said.

"Assuming that the ongoing clinical trials are successful and CVBT-141H is approved by the FDA, we believe that the key to CVBT's revenue maximization is implementation of a healthcare value strategy for CVBT-141H. In addition to addressing the clinical needs of patients and physicians, CVBT is seeking to address the healthcare value needs of payers by ensuring that CVBT-141H is cost-advantageous. BGI's work on the commercialization and development of healthcare value strategies for CVBT-141H will be important components of our discussions with potential partners," Montano said.

"The corporate development opportunity is clear," Balekdjian continued. "At a time when most major pharmaceutical manufacturers are struggling to grow revenues, are challenged by revenue losses due to patent expirations, and face depleted pipelines, The Bruckner Group is pleased to be working with CVBT in finding a commercialization partner for CVBT-141H," said David Balekdjian, Partner, The Bruckner Group.

About CardioVascular BioTherapeutics

CVBT is a biopharmaceutical company developing drug candidates with FGF-1 as its active pharmaceutical ingredient (API) for diseases characterized by inadequate blood flow to a tissue or organ. The company has FDA-authorization for a Phase II trial to treat severe Coronary Heart Disease (CVBT-141H) and a Phase I trial to treat Peripheral Arterial Disease (CVBT-141C). A Phase Ib or Phase II trial to treat dermal wound healing in diabetics (CVBT-141B) is estimated to begin in the first quarter of 2008.

This news release contains forward-looking statements that involve risks and uncertainties. Actual results and outcomes may differ materially from those discussed or anticipated. For example, statements regarding expectations for new research, progress with clinical trials or future business initiatives are forward looking statements. Factors that might affect actual outcomes include, but are not limited to, FDA approval of Phage drug candidates, market acceptance of Phage products by customers, new developments in the industry, future revenues, future expenses, future margins, cash usage and financial performance.

Source: Business Wire

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