CardioVascular BioTherapeutics Engages The Bruckner Group to Evaluate Healthcare Value Proposition of Drug Candidates
Posted on: Wednesday, 6 September 2006, 09:00 CDT
CardioVascular BioTherapeutics, Inc. (OTCBB:CVBT) today announced that it has engaged The Bruckner Group (BGI) to help develop the value proposition for its drug candidates for the treatment of cardiovascular diseases formulated with Cardio Vascu-Grow(TM). The Bruckner Group is the leading expert in developing strategies for pharmaceutical and biotechnology companies to maximize, define, prove, and leverage the healthcare value of their therapeutics. BGI will work with CardioVascular BioTherapeutics to economically evaluate Cardio Vascu-Grow(TM) in order to secure the broadest possible payer coverage and clinical utilization.
CardioVascular BioTherapeutics is developing drug candidates with Cardio Vascu-Grow as the active ingredient for products for the treatment of a number of diseases characterized by inadequate blood flow to a tissue or organ. The company has FDA clinical trials underway for advanced coronary artery disease for patients who currently have no or limited treatment options, and for impaired wound healing seen in patients with diabetes. CVBT is also conducting a proof-of-concept trial in Europe in patients with chronic back pain believed to be caused by blockage of lumbar arteries. Pre-clinical testing has been completed with Cardio Vascu-Grow in two additional areas -- peripheral artery disease of the legs and stroke recovery.
"In order to secure the best possible coverage from healthcare payers, we need to clearly deliver proven healthcare value," said Daniel C. Montano, president and CEO of CardioVascular BioTherapeutics. "We look forward to working with The Bruckner Group to incorporate economic evaluations into our development process, which will help us to determine the data and evidence that we need to sufficiently prove the economic benefits to payers for covering Cardio Vascu-Grow for patients suffering from cardiovascular disease."
"CardioVascular BioTherapeutics is developing drug candidates that have the potential of impacting millions of people suffering from cardiovascular disease, and it is imperative that its drug candidates be economically as well as clinically viable in the medical community," said David Balekdjian, partner of The Bruckner Group. "Our expertise in understanding how payers evaluate and make coverage decisions for pharmaceuticals and biologicals will enable BGI to play a valuable role in helping CardioVascular BioTherapeutics develop a value proposition that will enable the company to succeed."
About The Bruckner Group (BGI)
The Bruckner Group (BGI) provides strategic advice to pharmaceutical and biotechnology companies. BGI is the leading expert in healthcare value strategy and outcomes-based access (OBA) strategy and marketing. BGI's strategies help clients maximize, define, prove, and leverage the healthcare value of their therapeutics to create long-term competitive advantage.
About CardioVascular BioTherapeutics
CVBT is a biopharmaceutical company developing drug candidates with Cardio Vascu-Grow(TM) as the active ingredient for a number of diseases characterized by inadequate blood flow to a tissue or organ. Currently, the company is conducting two FDA-authorized clinical trials: one in coronary artery disease in no-option heart patients, and one in impaired wound healing seen in diabetics. Additionally, the company has completed pre-clinical studies in animal models of peripheral artery disease of the legs and stroke recovery. A foreign clinical trial relating to chronic back pain believed to be caused by impaired or blocked lumbar arteries has also been initiated.
Cardio Vascu-Grow is a trademark of CardioVascular BioTherapeutics, Inc.
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, results of future clinical and pre-clinical trials, differences in patient outcomes, FDA approval of CVBT drug candidates, market acceptance of CVBT products by customers, new developments in the industry, future revenues, future expenses, future margins, cash usage and financial performance. For a more detailed discussion of these and associated risks, see the company's most recent documents filed with the Securities and Exchange Commission.
Source: Business Wire
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