SANTA CLARA, Calif., Aug. 5 /PRNewswire-FirstCall/ -- NewCardio, Inc., (OTC Bulletin Board: NWCI) a cardiac diagnostic and services company, today announced that Dedicated Phase I, an innovative, Phoenix, Arizona-based provider of clinical research services including a Core ECG laboratory for Thorough QT and QTc studies, has signed a Master Services Agreement (MSA) with NewCardio. Under terms of this agreement, Dedicated Phase I will receive a license to use NewCardio's QTinno(TM) software solution in all TQT studies where fully automated readings are obtained.
It is anticipated that Dedicated Phase I, by utilizing QTinno(TM) in addition to its existing infrastructure, will be able to deliver the full range of TQT/QTc studies, becoming a turnkey provider of these studies to its customers.
Jason Bonanza, President and CEO of Dedicated Phase I, commented, "We are excited to add NewCardio's QTinno(TM) solution to our advanced Core ECG laboratory. By integrating this important technological advancement with our existing solutions, we can deliver TQT/QTc studies for upload to the FDA digital ECG warehouse with greater accuracy and lower intrinsic variability than the legacy manual or semi-automated methodologies provide. In addition, we can reduce study timelines by several weeks, providing significant savings to customers on the overall cost of the study. The net result is that sponsors will receive higher quality study results and also save time and money. This is a win-win for Dedicated Phase I and our customers."
"This agreement will enable Dedicated Phase I to deliver quality TQT/QTc studies to its customers, to include both CROs and sponsors, with higher accuracy and lower variability in a more timely and cost-effective manner," said Vincent Renz, NewCardio's President and Chief Operating Officer. "Dedicated Phase I is truly an innovative organization, and this agreement demonstrates the firm's commitment to the use of technology to improve quality and efficiency."
This Master Services Agreement is part of a transition from semi-automated methods to more advanced, higher quality, and more efficient methodologies made possible for the first time through the use of NewCardio's QTinno(TM) solution.
NewCardio's innovative 3D ECG platform technology dramatically improves the accuracy and significantly increases the diagnostic value of the standard 12-lead electrocardiogram (ECG). NewCardio's lead product is QTinno(TM), a software suite that provides an automated, comprehensive analysis of QT intervals and other ECG-based cardiac safety for the pharmaceutical industry and drug regulators. The Company believes that its QTinno(TM), software-based, analytical technology is the industry's first solution for the reliable automated analysis of ECGs used to determine cardiac toxicity during drug development.
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 for the year ended December 31, 2008 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. Information concerning factors that could cause our actual results to differ materially from these forward-looking statements can be found in our periodic reports filed with the Securities and Exchange Commission. We assume no obligation to, and do not currently intend to, update these forward-looking statements.
Investor Contact: Hayden IR Jeff Stanlis, Partner and VP of Communications (602)476-1821 email@example.com
|SOURCE NewCardio, Inc.|
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