OAKLAND, Calif., April 3 /CNW/ -- (Nasdaq: WHRT; TSX: WHT) -- World Heart
Corporation, a developer of mechanical circulatory support systems, today
announced that it has retained Genesis Select Corporation
(www.genesisselect.com) to initiate a comprehensive institutional investor
relations program. Genesis Select will employ its unique approach to assist
WorldHeart in building long-term relationships with portfolio managers, buy
and sell-side analysts and the investment community at large.
"Genesis Select has demonstrated the ability to generate significant
investor interest in micro cap companies as measured by both increased
institutional ownership and research coverage for their clients," said Jal
Jassawalla, CEO of WorldHeart. "We have established important milestones in
2007 for our next generation Levacor(TM) Rotary VAD. We expect to initiate
clinical use of the Levacor in Canada in the near term and start a U.S.
feasibility trial in the latter half of 2007. Genesis Select will help us
explain these and other clinical and technology events to investors."
"WorldHeart's Levacor Rotary VAD constitutes leading edge technology that
has received very favorable assessments from key opinion makers in the
clinical community," said Steve Laird, Partner of Genesis Select. "The
recently announced involvement in U.S. clinical trials of clinicians from
prestigious medical centers such as the Cleveland Clinic, Massachusetts
General Hospital and the LDS Hospital in Salt Lake City is a strong expression
of interest in the Levacor VAD", continued Mr. Laird. "The Company has
demonstrated the ability to take a device from concept through the FDA
approval process, which is a notable accomplishment in the heart replacement
category. We are very excited to bring the WorldHeart story to investors,
especially given the large valuation disparity between the Company and its
peers. Clinical events that we believe validate the Levacor technology have
already been achieved in Europe and will continue to unfold in 2007 and
About the Levacor VAD
The Levacor VAD is a next-generation rotary VAD. It is the only
bearingless, fully magnetically levitated implantable centrifugal rotary pump
in clinical trials. An advanced, continuous-flow pump, the Levacor uses
magnetic levitation to fully suspend the spinning rotor, its only moving part,
inside a compact housing. The proprietary levitation technology employs a
unique arrangement of magnetics expected to provide optimal system simplicity
and reliability. In contrast to pumps with blood-immersed mechanical or
hydrodynamic bearings, full magnetic levitation eliminates wear within the
pump as well as dependence on blood properties for rotor suspension, and is
expected to provide improved blood compatibility by allowing greater
clearances around the rotor and more idealized flow patterns across a wider
range of operation. The Levacor VAD has been designed to address the needs of
current and future heart-failure patient populations with a high safety
profile and robust range of operation.
World Heart Corporation is a developer of mechanical circulatory support
systems with leading next-generation technologies, headquartered in Oakland,
California, with additional facilities in Salt Lake City, Utah and in Heesch,
Netherlands. WorldHeart's registered office is Ottawa, Ontario, Canada.
About Genesis Select Corp.
Genesis Select Corporation (www.genesisselect.com) is an independent
investment advisory and financial communications firm that specializes in
micro through mid-capital public companies. The firm's senior professionals
integrate knowledge and expertise gained over 50 years at prominent Wall
Street firms. Genesis Select works closely with clients to maximize
shareholder value through strategic institutional investor relations and
financial communications programs.
Any forward-looking statements in this release are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995
and include statements relating to the Company's focus on the development of
its next-generation Levacor Rotary VAD and the progress and timing of planned
clinical trials, as well as other statements that can be identified by the use
of forward-looking language. Investors are cautioned that all forward-looking
statements involve risk and uncertainties, including without limitation: need
for significant additional financing, risks in product development and market
acceptance of and demand for the Company's products; particularly its Levacor
Rotary VAD product; slower Destination Therapy adoption rate for VADs and
other risks detailed in the Company's filings with the United States
Securities and Exchange Commission, including its Annual Report on Form 10-KSB
for the year ended December 31, 2006.
For further information:
For further information: Mr. Richard Juelis, +1-510-563-4713, or Ms.
Peggy Allman, +1-510-563-4721, both of World Heart Corporation; or Mr. Stephen
Laird of Genesis Select Corporation, +1-203-341-0214; Web Site: