PRINCETON, N.J., Jan. 11, 2012 /PRNewswire/ -- NewCardio, Inc.,
(OTC BB: NWCI) a cardiovascular diagnostic solutions developer,
announced today that a biotechnology pharmaceutical company, which
is focused on discovering and developing small molecule
therapeutics for disorders of the central nervous system (CNS), has
selected QTinno®, NewCardio's automated cardiac safety solution,
for an upcoming Thorough QT trial. Fully automated ECG analysis,
empowered by QTinno, will be delivered by the ECG core lab of a top
3 Clinical Research Organization (CRO) under the terms of an
existing Master Services Agreement with NewCardio.
The current study timeline anticipates initiating the study in
January, with completion in the April timeframe. QTinno was
selected, and specifically written into the protocol by the drug
development sponsor, based on its proven ability to enable the CRO
to deliver high-quality results in a much more timely and cost
effective manner than the current core ECG lab methodologies. It is
anticipated that the study will generate approximately $250,000 in revenue for NewCardio.
Greg Sadowski, NewCardio's Chief
Operating Officer, commented, "We are excited to participate in
this TQT trial for an emerging biotech with our CRO partner.
QTinno's selection for this study, based on the performance in
prior studies, provides clear evidence of the pharmaceutical
company's confidence, not only in the accuracy and precision of
QTinno's fully automated ECG analysis, but also in the FDA's
willingness to accept drug safety data from properly validated
technology such as QTinno."
About QTinno Technology
NewCardio's patented QTinno 3-D ECG software technology is a
novel, fully automated program for evaluating QT and other timing
intervals relevant for assessing drug cardiac toxicity in drug
development. It provides fast, accurate and precise QT data from a
broad range of challenging ECGs and enables reliable, automated
identification of key cardiac events. Pharmaceutical sponsors and
clinical research organizations, which are mandated by the FDA to
test new drugs for potential cardiac toxicity, are expected to
benefit from QTinno's faster, more accurate and less expensive
assessment of cardiac status.
About NewCardio, Inc.
NewCardio is a cardiac diagnostic and services company
developing and marketing proprietary software platform technologies
to provide higher accuracy to, and increase the value of, the
standard 12-lead ECG. NewCardio's 3-D ECG software platform
reduces the time and expense involved in assessing cardiac status
while increasing the ability to diagnose clinically significant
conditions which were previously difficult to detect.
NewCardio's software products and services significantly improve
the diagnosis and monitoring of cardiovascular disease, as well as
cardiac safety assessment of drugs under development. For more
information, visit www.newcardio.com.
Forward-Looking Statements
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,
2009 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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Investor Contact:
Hayden IR
Jeff Stanlis, Partner
(602) 476-1821
jeff@haydenir.com
SOURCE NewCardio, Inc.