SANTA CLARA, Calif., Sept. 15 /PRNewswire-FirstCall/ -- NewCardio, Inc., (OTC Bulletin Board: NWCI) a cardiac diagnostic and services company, today announced that Dorin Panescu, Ph.D., NewCardio's Chief Technical Officer and Vice-President of Research and Development, received the IEEE Engineering in Medicine and Biology Society (EMBS) 2009 Professional Career Achievement Award. The award honored Dr. Panescu for "groundbreaking contributions to the invention and development of medical devices for cardiac ablation, mapping, imaging and cardiac resynchronization therapy." It was the second time Dr. Panescu has received a prestigious award from the IEEE, as he was the recipient of the 2002 IEEE-EMBS Early Career Achievement Award.
Dr. Panescu received the award at the Annual Conference IEEE Engineering in Medicine and Biology Society (EMBS) (EMBC'09) conference September 2-6, 2009 in Minneapolis. At this conference, he presented data related to NewCardio's Visual3Dx(TM) solution, which is in development and is expected to improve the quality of ECG analysis in urgent care settings. Dr. Panescu presented a paper, "Visual3Dx(TM): Algorithms for quantitative 3-dimensional analysis of ECG signals" and specifically discussed the ability of NewCardio's Visual3Dx solution to detect Acute Coronary Syndrome (ACS), the clinical symptoms related to acute myocardial ischemia (AMI). AMIs are life threatening disorders caused by insufficient blood supply to the heart muscle that results from coronary artery disease. The paper concluded that Visual3Dx(TM) is a promising solution for three-dimensional quantitative analysis of cardiac electrical activity that may improve diagnosis of AMI, especially in electrically remote regions of the heart where current diagnostic tools are inferior.
"I was excited to share new data demonstrating the profound potential of NewCardio's unique and proprietary platform technology, and specifically our Visual3Dx(TM) solution currently in development," said Dr. Panescu. "The data presented at the EMBC'09 conference confirms our belief that the Visual3Dx(TM) will be a powerful diagnostic solution for the detection of ACS and will help save lives by accelerating diagnosis of acute MIs and provide urgent care doctors with improved diagnostic accuracy. In addition, I was deeply honored to receive this prestigious award from the IEEE. I continue to value my relationship with this important scientific organization."
The paper was co-authored by Dr. Bosko Bojovic and Dr. Hadzievski Ljupco, (NewCardio, Inc. Senior Consultants), Dr. Panescu, Dr. Samuel George, (NewCardio Senior Consultant), Dr. Ihor Gussak (Chief Medical Officer of NewCardio), Dr. Branislav Vajdic (Chief Executive Officer of NewCardio), Dr. Alexei Shvilkin (Beth Israel Deaconess Medical Center; Harvard Medical School), and Dr. Vladan Vukcevic (Clinical Center of Serbia).
Dr. Panescu holds more than 130 U.S. patents and has 70 published or pending U.S. patent applications. He was named NewCardio's Chief Technical Officer and Vice-President of Research and Development in October of 2008. He joined NewCardio from St. Jude Medical, Inc., a $4.1 billion medical technology and services company, where he most recently served as Director, Technology Development, for the Company's Cardiac Rhythm Management Division. Previously, he served as Vice President of Research and Development, Operations and Intellectual Property for Refractec, Inc. and as Senior Director of Systems Development for Boston Scientific Corporation, directing new product development for the Electrophysiology Division.
NewCardio recently launched its first product, QTinno(TM), a fully automatic cardiac safety solution for Thorough QT and Phase I studies in Drug Development. Simultaneously, the Company continues to develop Visual3Dx(TM) and Cardiobip(TM) utilizing its proprietary 3D platform. Aside from advanced and innovative technology for the betterment of the healthcare and drug development industry, NewCardio's Operational team also focuses on the needs of the industry with all of their products, specifically increasing accuracy and speed in the provision of results, increasing efficiency, ensuring full regulatory compliance, and reducing overall costs. For example, the QTinno(TM) product is fully compliant and can analyze, at a minimum, 10,000 ECGs per hour resulting in a significant cost savings for sponsors conducting Thorough QT and Phase I clinical trials.
The IEEE is the world's leading professional association for the advancement of technology in the biomedical and healthcare industries. It conducts an annual meeting, sponsored by the Engineering in Medicine and Biology Society (EMBS), and this event represents a significant meeting to drive and support innovation for the technology industry.
About NewCardio, Inc.
NewCardio is a cardiac diagnostic and services company focused on the development of a proprietary platform technology to provide higher accuracy to, and increase the value of, the standard 12-lead electrocardiogram (ECG). NewCardio's development-stage software and hardware products and services are intended to improve the diagnosis and monitoring of cardiovascular disease (CVD), as well as cardiac safety assessment of drugs under development. NewCardio's three-dimensional ECG platform is designed to reduce the time and expense involved in assessing cardiac status while increasing the ability to diagnose clinically significant conditions which were previously difficult to detect. For more information, visit www.newcardio.com.
This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based on currently available information and assumptions made by management. Although we believe that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or nonoccurrence of future events. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including the potential risks and uncertainties set forth in Item 1A of our Annual Report on Form 10-K/A (No. 2) for the year ended December 31, 2007 and relate to our business plan, our business strategy, development of our proprietary technology platform and our products, timing of such development, timing and results of clinical trials, level and timing of FDA regulatory clearance or review, market acceptance of our products, protection of our intellectual property, implementation of our strategic, operating and people initiatives, benefits to be derived from personnel and directors, ability to commercialize our products, our assumptions regarding cash flow from operations and cash on-hand, the amount and timing of operating costs and capital expenditures relating to the expansion of our business, operations and infrastructure, implementation of marketing programs, our key agreements and strategic alliances, our ability to obtain additional capital as, and when, needed, and on acceptable terms and general economic conditions specific to our industry, any of which could impact sales, costs and expenses and/or planned strategies and timing. We assume no obligation to, and do not currently intend to, update these forward-looking statements.
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|SOURCE NewCardio, Inc.|
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