SUNRISE, Fla., Oct. 1 /PRNewswire/ -- Bioheart, Inc. - (OTC Bulletin Board: BHRT) a company focused on the discovery, development and commercialization of autologous cell therapies for the treatment of cardiovascular diseases, announced today that the company received a preliminary commitment from Seaside National Bank and Trust for a $980,000 loan that will be used to refinance the Company's loan with Bank of America. The loan is subject to completion of definitive documentation and the delivery to Seaside of certificates of deposit of third parties. The Company further advised that $367,244 of the Bank of America loan would be paid down by a member of the Company's Board of Directors. In exchange, the Board Member will receive restricted common shares and warrants.
About Bioheart, Inc.Bioheart is committed to maintaining a leading position within the cardiovascular sector of the cell technology industry, delivering cell therapies, intelligent devices and biologics that help address congestive heart failure, lower limb ischemia, chronic heart ischemia, acute myocardial infarctions and other issues. Bioheart works to prevent the worsening of any condition with devices that monitor and diagnose. The company's goals are to enable damaged tissue to be regenerated, if possible, and to improve a patient's quality of life and reduce health care costs and hospitalizations.
Specific to biotechnology, Bioheart is focused on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of chronic and acute heart damage and peripheral vascular disease. MyoCell is a clinical muscle-derived cell therapy designed to populate regions of scar tissue within a patient's heart with new living cells for the purpose of improving cardiac function in chronic heart failure patients.
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|SOURCE Bioheart, Inc.|
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