Novoheart Named 2020 Venture 50 Company Ranked Among Year’s Top Performing Stocks in Life Sciences
- Novoheart Among Top 10 TSX-V Performers in Clean Technology & Life Sciences Sector
- Ranking based on share price increase, trading volume and market capitalization
VANCOUVER, BC – FEBRUARY 20, 2020 – Novoheart (“Novoheart” or the “Company”) (TSXV: NVH; FWB: 3NH), a global stem cell biotechnology company, is pleased to announce that it has been named a 2020 Venture 50 Company, ranked among the TSX Venture Exchange’s top 50 best performing companies.
The ranking comprises ten companies from each of five key industry sectors. Novoheart is one of the ten best performers within the Clean Technology and Life Sciences sector.
Ranking was based on three equally weighted criteria:
1. Share price: one-year share price change as of December 31, 2019
2. Trading: one-year trading volume as of December 31, 2019
3. Market capitalization: one-year market capitalization change as of December 31, 2019
“Since listing on the TSX Venture Exchange, the Novoheart team has been diligently implementing and executing our comprehensive business strategy spawned out of our revolutionary technologies.” said Novoheart co-founder & CEO Prof. Ronald Li. “We’re very pleased that the significant strides we’re making as a result of these efforts are translating into strong investor confidence. With several new and innovative ventures pioneered by our business and scientific teams over the last few years now coming to maturity, we feel that this confidence will grow even stronger in both the short and long terms.”
Novoheart’s proprietary, human-specific engineered heart models offer a powerful platform for facilitating and optimizing the discovery and development of novel drugs and therapeutics by enabling their testing for safety and efficacy in the context of the human hearts but without directly involving the individual patients.
“Our innovative technology platform aims to save time and cost, and importantly, improve notoriously poor success rates in new drug discovery, thereby leading to more viable drugs and therapeutics for the benefit of patients.” said Novoheart co-founder & CSO Prof. Kevin Costa.
During the past four months, Novoheart has announced an exclusive licensing agreement with Harvard University to co-develop a next-generation ‘Human Heart-in-a-jar’, the awarding of the latest in a series of research and development grants from the Innovation and Technology Fund, a contract to codevelop a first of its kind Human Heart-in-a-Jar model of heart failure with AstraZeneca, and a long term revenue-generating contract with another global pharma to develop a novel microplate for high-throughput drug screening using engineered human heart tissue strips.
In the past year, the Company has also been under contract and/or in partnership with several other global pharmas and notable clients. These results will be separately announced in due course.
For further details on these announcements and up to date company news, please visit Novoheart’s news pages here.
Novoheart is a global stem cell biotechnology company pioneering an array of next-generation human heart tissue prototypes. It is the first company in the world to have engineered miniature living human heart pumps that can revolutionize drug discovery, helping to save time and money for developing new therapeutics. Also known as 'human heart-in-a-jar', Novoheart’s bio-artificial human heart constructs are created using state-of-the-art and proprietary stem cell and bioengineering approaches and are utilized by drug developers for accurate preclinical testing of the effectiveness and safety of new drugs, maximizing the successes in drug discovery whilst minimizing costs and harm caused to patients. With the recent acquisition of Xellera Therapeutics Limited for manufacturing Good Manufacturing Product (GMP)-grade clinical materials, Novoheart is now developing gene- and cell-based therapies as well as next-generation therapeutics for cardiac repair or regeneration.
For further information, please contact:
Ronald Li, CEO
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in under the heading “Risk Factors” in Novoheart’s annual information form for the year ended June 30, 2019 or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.