EDMONTON, Dec. 3 /CNW/ - CardioMetabolics(TM) Inc. was recognized as
Emerging Company of the Year at BioAlberta's 8th Annual AGM and Awards Gala
held November 28, 2007 in Edmonton. The Company develops drug therapies that
help to lower the risk of recovery from open heart surgery, as well as
treatments for other cardiovascular disease indications. Each year in the
United States alone, over 700,000 open heart surgeries are conducted.
"This award recognizes that CardioMetabolics can make a difference for
the hundreds of thousands of people across North America who undergo open
heart surgery each year," said Kimmo Lucas, President and CEO. "Our employees,
directors and stakeholders are committed to not only building a formidable
biotech company, but one that reduces the risks of recovery from open heart
surgery. This recognition demonstrates the foresight of our founding
scientists, Dr. Ruth Collins-Nakai and Dr. Gary Lopaschuk, who invented a
product that has the potential to improve cardiac surgery outcomes."
Founded in 2000, CardioMetabolics specializes in the development of
metabolic agents referred to as PDK blockers that target metabolic conditions
related to the treatment of cardiovascular disease.
The BioAlberta Award for Emerging Company of the Year is presented to a
bioindustry company that is on the verge of significant growth.
CardioMetabolics recently commenced a Phase II clinical trial for its lead
product, Dichloroacetate i.v. (DCA i.v.), as a potential therapy to improve
heart function, surgical outcomes, patient quality of life and increase speed
of recovery. The trial is being conducted at the University of Alberta
Hospital in high risk geriatric patients following open heart surgery.
Edmonton-based CardioMetabolics Inc. is a privately held, late-stage,
biopharmaceutical company focused on commercializing drug product candidates
in the novel class of energy metabolism agents. The Company has late stage and
earlier stage compounds that target the treatment of cardiovascular disease,
and related metabolic conditions (e.g., diabetes). Cardiovascular disease is
the number one cause of death in North America. CardioMetabolics' technology
is focused on metabolic modulation, through the use of dichloroacetate (DCA)
and related compounds which have demonstrated a special ability to positively
impact the metabolism of energy.
BioAlberta is a private, not-for-profit industry association,
representing Alberta's growing bioindustry. BioAlberta currently lists over
130 members, including producers, users and supporters of biotechnology
activities in Alberta. Alberta's bioindustry is a broad field of endeavour
encompassing biotechnology, environmental science, medical technology,
industrial bioproducts, agriculture biotechnology, bio-informatics and natural
Except for historical information, this press release may contain
forward-looking statements, which reflect the Company's current expectation
regarding future events. These forward-looking statements involve risk and
uncertainties, which may cause but are not limited to, changing market
conditions, the successful and timely completion of clinical studies, the
establishment of corporate alliances, the impact of competitive products and
pricing, new product development, uncertainties related to the regulatory
approval process and other risks detailed from time to time in the Company's
ongoing quarterly and annual reporting.
For further information:
For further information: CardioMetabolics Inc., Kimmo Lucas, President
and Chief Executive Officer, Phone: (780) 438-2813, Fax: (780) 438-2874,
E-mail: firstname.lastname@example.org; Investor Relations, Ross Marshall, The
Equicom Group Inc., Phone: (416) 815-0700 (Ext. 238), Fax: (416) 815-0080,