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CardioVascular BioTherapeutics, Inc. Funding Wound Healing Trial with R&D Partnership
Date:4/24/2008

ndpoints of the Phase II coronary heart disease and wound healing trials in approximately 12 to 18 months," said Mr. Montano. He continued, "Conducting FDA clinical trials is expensive and requires timely access to capital. The disruptions in the financial market over the last six months have made access to capital more difficult. Given the current market, we believe that structuring R&D Partnerships tailored to the circumstances of individual drug candidates and partnerships provides a sensible financing alternative for funding our clinical trials."

According to Mickael A. Flaa, CVBT's Chief Financial Officer, "The ability to attract capital in this form is a major milestone in the financial growth and maturity of CVBT." Mr. Flaa continued, "This financing vehicle is very attractive to both the Company and its shareholders due to assumption of risk of loss by the R&D Partnership and the modest dilution resulting from the financing. The R&D Partnership concept is the type of financing alternative that CVBT will focus on for other drug candidates in the pipeline until the financial markets are receptive to timely, cost effective access to capital for CVBT common stock."

About Mr. Phillip Frey Jr.

Mr. Phillip Frey Jr. is the retired Chairman, CEO, and President of Microsemi Corporation (MSCC). He was Chairman of Microsemi's Board of Directors from 1986 through 2002 and a member of the Board of Directors since 1973. He also served as its President and CEO from 1971 to December 2000. Microsemi Corporation designs, manufactures, and markets analog and mixed-signal integrated circuits (ICs) and semiconductors. Since retiring from Microsemi Corporation, Mr. Frey has focused his business endeavors in real estate investments and has been a major angel investor in numerous new ventures in the medical and electronics areas.

About CardioVascular BioTherapeutics

CVBT is a biopharmaceutical company developing human FGF-1 for cardiovascular disea
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SOURCE CardioVascular BioTherapeutics, Inc.
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