Biovista Inc. Named Top Innovator in Life Sciences

CHARLOTTESVILLE, VA, Dec. 16 /CNW/ - Biovista Inc. today announced that it was awarded the 2009 Top Innovator Presentation Award in Healthcare, at the 2009 New England Venture Summit, held on December 8th at Dedham, MA. The award, which recognizes cutting edge private companies driving the future of innovation, was granted to Biovista who competed with over 50 other privately held companies that play a leading role in innovation in the Technology, Life Sciences and Clean-tech sectors.

"We are honored to have been selected as the winner amongst this elite group of companies," said Dr. Aris Persidis, Biovista Inc. President, who presented at the Summit. "I believe that the award reflects the emerging importance of Drug Repositioning and Adverse Event profiling, and their potential to dramatically increase the efficiency and safety of drug development," added Dr. Persidis.

About Biovista's repositioning pipeline and technology platform

Biovista applies high-throughput discovery efforts to finding solutions for commercially relevant unmet medical needs. Biovista's proprietary repositioning technology allows the company's experts to perform mechanism-of-action based analyses and systematically assess clinical outcomes in any therapeutic area of interest, at relatively low cost and very short time spans. The company is presently using this platform to develop its own pipeline of repositioned drugs in areas such as CNS, cardiovascular disease, oncology and auto-immune diseases.

About the New England Venture Summit

The New England Venture Summit is an annual invitation-only event, where a select group of over 450 entrepreneurs, investors, and corporate developers gather to meet early stage and emerging growth companies, and to share their insights on the future of innovation.

SOURCE BIOVISTA INC.

For further information: For further information: Dr. Aris Persidis, Biovista, Inc. (434) 242-6514, arisp@biovista.com

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