SANTA CLARA, Calif.,
Nov. 9, 2011 /PRNewswire/ --
NewCardio, Inc., (OTC BB: NWCI) a cardiovascular diagnostic
solutions developer, announced today that its strategic partner,
Clinilabs, will utilize QTinno®, NewCardio's automated cardiac
safety solution, to conduct a Phase I trial of an investigational
new drug under development for a central nervous system (CNS)
indication. The assessment of cardiac safety will be one
important aspect of the trial.
Clinilabs, located in New York
City, is a full-service contract research organization that
provides early-phase and specialty clinical drug development
services to industry. Clinilabs has integrated QTinno into its
current core lab offerings as part of its strategic initiative to
deliver a full portfolio of cardiac safety and cardiac core
laboratory services to industry. Providing fully automated
ECG analysis as an integrated service offering, empowered by
QTinno, enables Clinilabs to provide the complete range of ECG
processing services now requested by pharma companies interested in
assessing the cardiac safety of drugs in development.
"We are a trusted CRO with expertise in early phase development,
which hinges on the assessment of drug safety and tolerability.
The integration of QTinno into our ECG core laboratory
enhances our ability to assess cardiac safety by using the
industry's leading automated ECG solution," commented Dr.
Gary Zammit, President and CEO of
Clinilabs. "We are a one-stop-shop. Our 50-bed Phase I unit
uses Holter telemetry to generate ECGs that are read in our own ECG
core laboratory. Our clients are served by one vendor, one
project manager, and one seamless system for completing cardiac
safety studies. The integration of QTinno into our ECG core
laboratory truly differentiates us from other providers in that it
allows us to analyze ECGs using the most advanced technology in the
industry today."
Vincent Renz, NewCardio President
and Chief Executive Officer, commented, "NewCardio is excited to
support Clinilabs in the integration of QTinno in order to enhance
their expertise in assessing drug safety in early phase
development. Securing opportunities, such as this study, is proof
that our partnership with Clinilabs is delivering value to both
organizations and leading the way for best practices in cardiac
safety. We look forward to continuing to work together as the
industry continues in its adoption of QTinno's superior technology
which offers more accurate and precise cardiac safety data in a
more timely and cost effective manner."
NewCardio's innovative 3D ECG platform technology dramatically
improves the accuracy and significantly increases the diagnostic
value of the standard 12-lead ECG. NewCardio's lead product is
QTinno, a software suite that provides an automated, comprehensive
analysis of QT intervals and other ECG-based cardiac safety markers
for the pharmaceutical industry and drug regulators. The Company
believes that QTinno, a software-based, analytical technology is
the industry's leading solution for the delivering accurate and
precise analysis of ECGs in a fully automated process to determine
cardiac toxicity during drug development, with the added benefit of
significant time and cost efficiencies.
Shareholder Update Conference Call
NewCardio expects to file its form 10-Q for the quarter ended
September 30, 2011 on Monday, November 14, 2011. Management has
scheduled a conference call for the purpose of updating
shareholders and answering questions. The call is scheduled for
Tuesday November 15, 2011, at
9 a.m. Eastern Time. To access the
call dial 1-877-941-4775, or 1-480-629-9761 for international
callers, and reference "NewCardio, Inc. Third Quarter 2011
Financial Results Conference Call." A replay will be available for
one week following the call by dialing 1-877-870-5176, or
1-858-384-5517 for international callers; reference pin number
4487430. A live and replay Webcast of the call will be available at
http://viavid.net/dce.aspx?sid=00008FFD.
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 12L 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.
About Clinilabs Inc.
Clinilabs is a full-service contract research organization (CRO)
that provides early-phase and specialty clinical drug development
services to industry. Clinilabs is recognized globally as a
leading specialty CRO, and has made important contributions to
eleven successful new drug applications (NDAs) since 2001. For more
information, please visit www.clinilabs.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,
2010 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.
