Navigation Links
CVBT Closes Clinical Development Agreement for Coronary Heart Disease Drug Candidate

LAS VEGAS, Nov. 13 /PRNewswire-FirstCall/ -- CardioVascular BioTherapeutics, Inc. (OTC Bulletin Board: CVBT) (the "Company") has entered into its first clinical development agreement for its Coronary Heart Disease drug candidate with Cardio Neo-Genesis, LP ("CNG"). The agreement, dated November 11, 2008 states that CNG can fund up to $15,000,000 of the clinical development for the Company's Coronary Heart Disease (CHD) drug candidate. The agreement also provides for a royalty to CNG payable from 5% of CVBT's cash-flow stream on its CHD drug up to 20 times return to CNG's limited partners.

"CVBT is currently utilizing clinical development agreements to fund and advance our drug development candidates," according to Mr. Mickael A. Flaa, CVBT's Chief Financial Officer. Mr. Flaa continued, "Given the stress in the financial markets at this time, we looked to the lessons of history for a strategy to finance CVBT's drug development program. The clinical development arrangements that CVBT has entered into are similar in structure to those used successfully by Amgen, Genentech, Biogen, and others over 20 years ago to fund their drug development programs."

"This development agreement is a positive step in advancing CVBT's CHD drug candidate given today's financial markets," said Mr. Daniel C. Montano, CVBT's CEO. Mr. Montano continued, "I believe that CVBT's existing shareholders will benefit from this new source of funding which does not permanently dilute their shareholdings."

About CardioVascular BioTherapeutics

CVBT (OTCBB: CVBT) is a biopharmaceutical company developing human FGF-1 for cardiovascular diseases characterized by inadequate blood flow to a tissue or organ. In addition to the Phase II trial it is conducting in patients with severe coronary heart disease, the company has two FDA-authorized clinical trials in the areas of impaired wound healing seen in diabetics and in patients suffering from peripheral artery disease of the legs. An additional study is being conducted in patients with chronic back pain who may have perfusion defects to their spine. For more information about CardioVascular BioTherapeutics, Inc. please visit

CardioVascular BioTherapeutics, Inc.

Allison Caplan, (702) 839-7200

SOURCE CardioVascular BioTherapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. OncoVista, Inc. Closes on $6.8 Million Financing and Acquires Control of a Public Shell Company
2. Genmab Discloses Target and Development Plans for HuMax-Inflam
3. Oxford Finance Corporation Closes $7 Million Debt Facility with Othera Pharmaceuticals
4. RoundTable Healthcare Partners Closes Sale of MedAssist Holding, Inc. to Firstsource Solutions Limited
5. Gilde Healthcare Partners Closes EUR 150 Million European Healthcare Venture Fund
6. Symmetry Medical Discloses Accounting Issues at Sheffield, UK Operating Unit and Possible Restatement
7. BioVex Closes Second Round of Series E Financing
8. Pharmaxis Closes Share Purchase Plan
9. The closest look ever at native human tissue
10. Helix BioPharma closes $16.9 million private placement of common shares
11. Senesco Technologies Closes on Additional $4.0 Million of Previously Announced Financing
Post Your Comments:
(Date:6/27/2016)... Chapel Hill, N.C. (PRWEB) , ... June 27, ... ... of U.S. commercial operations for Amgen, will join the faculty of the ... will serve as adjunct professor of strategy and entrepreneurship at UNC Kenan-Flagler, with ...
(Date:6/27/2016)... , June 27, 2016   Ginkgo Bioworks ... to industrial engineering, was today awarded as one ... selection of the world,s most innovative companies. Ginkgo ... scale for the real world in the nutrition, ... engineers work directly with customers including Fortune 500 ...
(Date:6/24/2016)... 24, 2016 Epic Sciences unveiled a ... susceptible to PARP inhibitors by targeting homologous recombination ... The new test has already been incorporated into ... cancer types. Over 230 clinical trials ... pathways, including PARP, ATM, ATR, DNA-PK and WEE-1. ...
(Date:6/24/2016)... NC (PRWEB) , ... June 24, 2016 , ... Researchers ... the most commonly-identified miRNAs in people with peritoneal or pleural mesothelioma. Their findings are ... to read it now. , Diagnostic biomarkers are signposts in the blood, lung ...
Breaking Biology Technology:
(Date:6/16/2016)... FRANCISCO , June 16, 2016 ... size is expected to reach USD 1.83 ... by Grand View Research, Inc. Technological proliferation and ... banking applications are expected to drive the market ... ) , The development of advanced ...
(Date:6/9/2016)... June 9, 2016 Paris ... Teleste,s video security solution to ensure the safety of people ... during the major tournament Teleste, an international ... and services, announced today that its video security solution will ... to back up public safety across the country. The system ...
(Date:6/2/2016)... The Department of Transport Management (DOTM) of ... Dollar project, for the , Supply and Delivery ... IT Infrastructure , to Decatur ... Identity Management Solutions. Numerous renowned international vendors participated in the ... was selected for the most compliant and innovative solution. The ...
Breaking Biology News(10 mins):