IRVINE, Calif., March 14, 2013 /PRNewswire/ -- AtheroNova
Inc. (OTCBB: AHRO), a biotech company focused on the research and
development of compounds to safely regress atherosclerotic plaque
and improve lipid profiles in humans, today announced that Dr.
Giorgio Zadini, one of the Company's
co-founders, has transferred certain of his holdings (including
shares inherited from his brother and co-founder, Dr. Filiberto Zadini, who passed away in
February 2011) in connection with his
retirement from all business activities.
The completed transactions were concluded with investors who
invested in the Company's recent private placement offering as well
as other long-term investors, some of whom have participated in
several financings of the company since the 2010
reverse-merger. Dr. Zadini also gifted certain shares to
family members and close associates. These transactions have
aligned the company's ownership to those who are interested in the
long-term development and operations of AtheroNova.
In conjunction with these transactions, lockups, ranging from 6
to 18 months, of all shares involved, including all of Dr. Zadini's
remaining holdings, are in place, removing any significant
liquidity from these shares for the upcoming period of transition
from a pre-clinical to a clinical stage company.
"We are pleased that Dr. Zadini has completed these transactions
and wish to thank him for all of his fine work in the incubation of
AtheroNova," stated Thomas W.
Gardner, AtheroNova's CEO. "His contributions, as well
as those of Filiberto, were instrumental in giving the Company its
technology base needed for the milestones we have achieved.
We expect the appointment of a new head to the Scientific Advisory
Board in the next few weeks to fulfill the role previously held by
Dr. Zadini."
About AtheroNova
AtheroNova Inc., through its wholly-owned subsidiary, AtheroNova
Operations, Inc., is a biotechnology company focused on the
discovery, research, development and licensing of novel compounds
to reduce or regress atherosclerotic plaque deposits and to safely
improve lipid profiles in humans. In addition to its lead compound
AHRO-001, AtheroNova plans to develop multiple applications for its
patents-pending therapies in market sectors that include:
Cardiovascular Disease, Stroke, Peripheral Artery Disease, Dementia
and Alzheimer's and Erectile Dysfunction, all of which have been
linked to atherosclerosis. Atherosclerosis and its related
pharmaceutical expenses for these indications cost consumers more
than $41 billion annually in
the United States alone. For more
information, please visit www.AtheroNova.com.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding the Company's
long-term development and operations, and any other statements
about the future expectations, beliefs, goals, plans, or prospects
expressed constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Any
statements that are not statements of historical fact (including
statements containing the words "will," "believes," "plans,"
"anticipates," "expects," "estimates," and similar expressions)
should also be considered to be forward-looking statements. There
are a number of important factors that could cause actual results
or events to differ materially from those indicated by such
forward-looking statements including, limited operating history,
need for future capital, and economic conditions generally.
Additional information on potential factors that could affect
results and other risks and uncertainties are detailed from time to
time in the Company's periodic reports, including forms filed with
the SEC.
These statements, and other forward-looking statements, are not
guarantees of future performance and involve risks and
uncertainties. AtheroNova assumes no obligation to update any of
the forward-looking statements in this release.
SOURCE AtheroNova Inc.