IRVINE, Calif., March 1, 2012 /PRNewswire/ -- AtheroNova
Inc. (OTCBB: AHRO), a biotech company focused on the research and
development of compounds to regress atherosclerotic plaque, today
announced that it has initiated the first shipment of AHRO-001
Active Pharmaceutical Ingredient (API) to its research and
development partner CardioNova, Ltd., a Russia based biotech company responsible for
Phase 1 and 2 human clinical studies of AHRO-001. The
clinical-grade material will be used to commence the toxicology
studies conducted for Russian regulatory purposes.
"We are pleased to announce this first shipment, clearly a
milestone for us in the development of AHRO-001 for use in upcoming
human clinical studies," said AtheroNova CEO Thomas Gardner. "This is the highest purity
ever achieved in AHRO-001 and is ready to be used in an advanced
clinical setting for the first time. As we proceed through our
clinical phases, we are extremely gratified to adhere to our
aggressive development path and look forward to additional
development milestones in the coming months."
"CardioNova is very excited to receive the first shipment,"
commented CardioNova CEO Andrey
Boldyrev. "We are looking forward to starting the toxicology
studies and initiating clinical studies in close cooperation with
AtheroNova, who proves to be an ideal partner for this project. We
believe that an effective partnership of our two companies will
allow us to bring to market a novel drug that is much anticipated
by doctors and patients all over the world."
About AHRO-001
AHRO-001 is AtheroNova's first novel application for the
treatment and prevention of atherosclerosis. Atherosclerotic plaque
is the primary, underlying cause of heart disease and stroke in
industrialized countries. AHRO-001 uses certain natural compounds
to regress atherosclerotic plaque deposits through a process known
as delipidization. Delipidization dissolves plaques in artery
walls, which are then removed by natural body processes. AtheroNova
plans to develop multiple applications for its patents-pending
compounds that can be used in pharmaceutical-grade products for the
treatment of atherosclerosis. Atherosclerosis and related
pharmaceutical costs run more than $41
billion annually in the United
States alone. Market sectors potentially served by
AHRO-001 include: Cardiovascular Disease, Stroke, Peripheral Artery
Disease, Dementia and Alzheimer's and Erectile Dysfunction, all of
which have been linked to atherosclerosis.
About AtheroNova
AtheroNova Inc., through its wholly-owned subsidiary,
AtheroNova Operations, Inc., is an early stage biotech company
focused on discovery, research, development and licensing of novel
compounds to reduce or regress atherosclerotic plaque deposits. The
Company's focus on compounds to reduce or regress atherosclerotic
plaque deposits addresses the most lucrative segments of the
multi-billion dollar prescription drug market: cardiovascular
disease and stroke prevention. www.AtheroNova.com.
About CardioNova
CardioNova, Ltd is a private Russian biotechnology company
founded in 2011 and financed by Maxwell Biotech Venture Fund, the
first Russian venture fund fully dedicated to investments in the
life sciences sector, formed with the participation of Russian
Venture Company. CardioNova is a resident of Biomedical Cluster at
Skolkovo Innovation Center, the company's main goal is to develop
and launch into the Russian market innovative products to treat
cardiovascular disease.
Forward-Looking Statements
Except for historical information contained herein, the
statements in this release are forward-looking and made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are inherently
unreliable and actual results may differ materially. Examples of
forward-looking statements in this news release include statements
regarding the Company's product shipments, suitability of the
compound for its intended use, mechanisms of action, clinical
trials and supply chain as well as the development of applications
for AtheroNova's technology. Factors which could cause actual
results to differ materially from these forward-looking statements
include such factors as significant fluctuations in expenses
associated with clinical trials, failure to secure additional
financing, the inability to complete regulatory filings with the
Food and Drug Administration, the introduction of competing
products, or management's ability to attract and maintain qualified
personnel necessary for the development and commercialization of
its planned products, and other information that may be detailed
from time to time in AtheroNova's filings with the United States
Securities and Exchange Commission. AtheroNova undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
SOURCE AtheroNova Inc.