Wednesday, February 27, 2008

Cardiovascular Sciences, Inc. Consolidates Progress and Forges Ahead

SOURCE: Cardiovascular Sciences
Feb 19, 2008 08:18 ET

ORLANDO, FL--(Marketwire - February 19, 2008) - Cardiovascular Sciences, Inc. (PINKSHEETS: CVSC) was established a few years ago to investigate and develop novel medical technologies to meet unmet and only partially addressed clinical needs. Areas of endeavor have required technologies as wide ranging as cell engineering to clot resistant coatings to tissue grafts to guided radiofrequency ablators and more. But what gradually became evident to the Company's technical team as they considered a variety of factors such as the size and growth of the ultimate market, the shortfalls of available products for this need, and the resources and time required to develop a likely technology to marketability, there was one clinical need that trumped the other areas. That is the need to prevent adhesions and adhesion related complications that often follow various surgeries and traumas. The cost of these complications constitutes a $6+ billion global market.
The adhesion process is part of normal healing and is what allows the edges of a cut on the skin to knit together and heal. But when two adjacent tissues that are not normally attached are stressed as happens in most surgeries, the surfaces can scar together and contract, causing problems ranging from minor discomfort to joint limitation to life threatening obstruction and intestinal perforation. The key to preventing this is to use a material to separate the surfaces for several days that then degrades and reabsorbs after the healing has reached the point after which adhesions are unlikely to occur.
Focusing on this need has allowed the team to consolidate its resources and efforts in the most productive area. A new president with market development experience was brought in, Mr. Eric O. Edelmann, who remains as a consultant. Larry Hooper, a physician, was moved into the top spot as CEO, directed and coordinated the team's research at the University of Central Florida. Along with this, the Company was admitted into UCF's award winning Technology Incubator program where it has garnered much praise as evidenced by Gordon Hogan, the incubator's Business Development Executive, "It is exciting to watch Cardiovascular Sciences leverage their existing management strengths with the scientific and technological strengths of UCF. This convergence can easily result in dramatic changes in the prevention of surgical adhesions." Carol Ann Dykes, the incubator's Technology Site Manager is similarly enthused. "It's been exciting to watch this committed and passionate team pull it together and march toward what promises to be an exciting and successful future."
"Rightly or wrongly," explains the company's CEO, "the company did spend considerable effort chasing and investigating a wide range of technologies." But Dr. Hooper hastens to add, "But if not for that, we would not have found, developed and understood the value of the technology we now have. And by intently focusing in this area, the range of indications and other possible uses of the second generation material we have produced continue to blossom well beyond what we first envisioned."
The recent funding event announced with Seven Palm Investments, LLC now allows the company to intensify its efforts and move into high gear with its R & D. This next year should see an increasing frequency of announcements as the Company continues to develop an even wider variety of applications for its products, and commences expanded in vitro and animal trials as it relentlessly pursues the course to marketing its proprietary technology.
About Cardiovascular Sciences
Cardiovascular Sciences, Inc. is an advanced medical device company which is developing a novel technology platform to address the problem of post-surgical and post-traumatic adhesions. Adhesions and the complications of adhesions are a significant problem worldwide for a wide range of specialists, including general surgeons, cardiothoracic surgeons, orthopedic, plastic, and ophthalmologic and otolaryngology specialists to name just some of them. In addition, the veterinary field has a tremendous need for a product that can prevent similar problems in a wide variety of animals.
The Company's unique materials and processes promise a more cost-effective and decidedly more efficient and capable means to deal with a problem that has been so devastating to so many. Current sponsored research at the University of Central Florida (UCF) and previously at other institutions indicate that The Company is on the right path and progressing well.
In addition to the anti-adhesion technology, The Company owns technology in a variety of other areas, including thrombo-resistant coatings, enhanced intra-arterial balloon pumping catheters, cell engineered vascular tissues, and a method for improved recovery of the heart following cardioplegia. This yields a diversified portfolio with projects in various stages of development.
Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.

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