Bioheart Announces Joint Venture in South Africa
24 June 2014 - 10:00PM
Marketwired
Bioheart Announces Joint Venture in South Africa
More Than 51 Million People Will Have Access to Bioheart's
Therapies
SUNRISE, FL--(Marketwired - Jun 24, 2014) - Bioheart, Inc.
(OTCBB: BHRT), a biotechnology company focused on the discovery,
development and, subject to regulatory approval, commercialization
of autologous cell therapies for the treatment of degenerative
diseases, announced today that it has entered into a joint venture
with Dr. Walter Bell of South Africa.
Dr. Walter Bell has been providing Bioheart therapies to
patients in South Africa suffering from degenerative diseases since
the end of 2013. Under this new agreement, the facilities in
South Africa will be expanded to provide cell culture expansion and
cryopreservation to local patients. Bioheart can multiply and
preserve an individual's cells in sub-zero temperatures for future
treatments as required.
"Every day, Bioheart remains laser-focused on delivering
scientific advancements throughout the world and developing a
partnership in South Africa is a testament to that mission," said
Kristin Comella, Bioheart's Chief Science Office. "We have many
patients in South Africa that can benefit from Bioheart therapies
and the ability to culture, expand and bank cells locally will
provide many advantages."
Bioheart's partnership will establish a critical relationship
with the South African government and the joint venture will work
closely with the Ministry of Health to make Bioheart protocols part
of the standard of care for patients in South Africa and
neighboring countries. Bioheart will provide the necessary training
and expertise to transfer Bioheart therapies to the new
facility.
Bioheart will assume 49% ownership of the new entity. Dr.
Walter Bell and his team will offer these therapies to the more
than 51 million people living in South Africa as well as being a
premier site for medical tourism.
About Bioheart, Inc. Bioheart, Inc. is committed to maintaining
its leading position within the cardiovascular sector of the cell
technology industry delivering cell therapies and biologics that
help address congestive heart failure, lower limb ischemia, chronic
heart ischemia, acute myocardial infarctions and other
issues. Bioheart's goals are to cause damaged tissue to be
regenerated, when possible, and to improve a patient's quality of
life and reduce health care costs and hospitalizations.
Specific to biotechnology, Bioheart is focused on the discovery,
development and, subject to regulatory approval, commercialization
of autologous cell therapies for the treatment of chronic and acute
heart damage and peripheral vascular disease. Its leading product,
MyoCell, is a clinical muscle-derived cell therapy designed to
populate regions of scar tissue within a patient's heart with new
living cells for the purpose of improving cardiac function in
chronic heart failure patients. For more information on Bioheart,
visit www.bioheartinc.com, or visit us on Facebook: Bioheart and
Twitter @BioheartInc.
Forward-Looking Statements: Except for historical matters
contained herein, statements made in this press release are
forward-looking statements. Without limiting the generality of the
foregoing, words such as "may," "will," "to," "plan," "expect,"
"believe," "anticipate," "intend," "could," "would," "estimate," or
"continue" or the negative other variations thereof or comparable
terminology are intended to identify forward-looking
statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Also, forward-looking statements
represent our management's beliefs and assumptions only as of the
date hereof. Except as required by law, we assume no obligation to
update these forward-looking statements publicly, or to update the
reasons actual results could differ materially from those
anticipated in these forward-looking statements, even if new
information becomes available in the future.
The Company is subject to the risks and uncertainties described
in its filings with the Securities and Exchange Commission,
including the section entitled "Risk Factors" in its Annual Report
on Form 10-K for the year ended December 31, 2013, and its
Quarterly Report on Form 10-Q for the quarter ended March 31,
2014.
Media Contact: Carissa Matton Bioheart, Inc. 13794 NW 4th
Street, Suite 212 Sunrise, Florida 33325 Phone: 772.285.8511
cmatton@bioheartinc.com
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