Dr. Christopher Moore to Form ProDerm LP to Fund CVBT Wound Hea...( LAS VEGAS May 22 /- CardioVascula...),Health

LAS VEGAS, May 22 /PRNewswire-FirstCall/ -- CardioVascular BioTherapeutics, Inc. (OTC Bulletin Board: CVBT) has entered into an agreement with Dr. H. Christopher Moore to be the sponsor and general partner of ProDerm Limited Partnership (PDLP) which will fund a minimum of $1 million and up to $10 million of the clinical development for CVBT's wound healing drug candidate.

"I am extremely impressed with CVBT's wound healing drug, which I believe has the potential to treat patients for diabetic ulcers and venous stasis leg wounds better than any of the current products on the market. The active pharmaceutical ingredient (API) is truly remarkable," said Dr. Moore.

PDLP will engage CVBT in a development agreement to conduct wound healing clinical trials. CVBT will pay a royalty to PDLP of 10% of revenues or other moneys received from the commercialization of the drug candidate up to a maximum of twenty times (20x) the funded amount of the development agreement in exchange for the intellectual property created. Daniel C. Montano, CVBT's President and CEO, has agreed to personally provide the individual partners of PDLP a "Put" to Mr. Montano for their interest in CDCP equal to 200% of their investment in PDLP less distributions paid from PDLP commencing 36 months and ending 60 months after their investment in PDLP.

"These clinical partnerships are very important to the timely development of CVBT's drug candidates. The ability to access the necessary funding for CVBT's FDA clinical trials through clinical partnerships during these uncertain times for the capital markets gives us the ability to move forward with our planned clinical development schedule," said Mr. Montano.

"CVBT now has two clinical partnerships in place supporting its trials through development agreements. The relative cost of capital and the minimal dilution to existing shareholders makes this financing vehicle an attractive alternative to selling equity and placing deb
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