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Bioheart, Inc. Announces Financial Results for First Quarter 2008

SUNRISE, Fla., May 15 /PRNewswire-FirstCall/ -- Bioheart, Inc. (Nasdaq: BHRT) a biotechnology company that is focused on the development of autologous (patient-derived) cell therapies and devices for the treatment of chronic and acute heart damage, today announced financial results for the quarter ended March 31, 2008.

Financial Highlights

-- On February 19, 2008, the Company completed its initial public offering

(IPO) of common stock for gross proceeds of approximately $5.8 million.

The net cash proceeds from the IPO are expected to be utilized to

commence full-scale enrollment in a Phase II/III MARVEL Clinical Trial

of MyoCell(R) in the U.S. and Europe.

Clinical Highlights

-- On January 18, 2008, the final 12-month results of the MYOHEART Trial,

a Phase I dose-escalation study of MyoCell in the United States, the

Company's lead product candidate, were presented at the Fourth Annual

International Conference on Cell Therapy for Cardiovascular Diseases

(NY). The results, presented by Warren Sherman, MD, Principal

Investigator and Director, Cell-based Endovascular Therapies, Columbia

University Medical Center, NY, suggested trends in improved quality of

life measurements sustained out to 12 months following treatment,

without unexpected rates of serious adverse events related to the

therapy given its patient population.

-- On April 1, 2008, the final six-month results of the Phase II SEISMIC

Trial of MyoCell in Europe, was presented during the clinical trial

sessions at the American College of Cardiology. These results suggested

that MyoCell is a safe and potentially effective alternative treatment

to standard medical therapy alone for improving heart function among

patients with previously implanted cardiac devices who are experiencing

congestive hea

SOURCE Bioheart, Inc.
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