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ORLANDO, FL (January 03, 2008) Cardiovascular
Sciences, Inc. (CVSC), announces a capital investment from
Seven Palm Investments, LLC of Illinois. The funding will support
continued development of the company’s primary technology
for prevention of adhesions following surgery. Adhesions
occur any time two adjacent tissues have been injured as
part of the normal healing process. For cuts on the
surface of the skin, this is a good thing. But when
it is between two internal organs or tissue surfaces that
are not usually fused, it can cause clinically significant
and serious problems.
“We feel that we have developed a novel and exciting
approach to a problem that plagues all surgeries and can
be clinically significant in up to a quarter of all surgical
patients,” explains Dr. Larry Hooper, the company’s
CEO.
Cardiovascular has partnered with the University of Central
Florida, Department of Chemistry to develop the technology. The
first arm of development has produced several formulations
of material with promising anti-adhesive properties. Early
results indicate the material overcomes some of the problems
that exist with current products on the market. A six figure
matching grant from the Florida High Tech Corridor Council
last year enabled the company to start degradation studies
ahead of schedule.
“The investment from Seven Palms will allow us to rapidly
accelerate the pace of development of this promising technology
and enter the marketplace within the next 2 years.” stated
Dr. Hooper. “We have entered a new stage in
our corporate growth.”
Concurrent with this, the Company’s website has gone
live at www.cvsciences.org. The
website provides current information about the company
and the field of technology.
Cardiovascular Sciences is a client of the UCF Technology
Incubator.
Dr. Larry Hooper, Cardiovascular Sciences 407-208-9943
Tom O’Neal or Carol Ann Dykes, UCF Technology Incubator
407-882-0202
Larry Vershel, Larry Vershel Communications 407-644-4142
or 386-837-8780
About Cardiovascular Sciences, Inc.
Based in Orlando, Florida, Cardiovascular Sciences Inc.
is a technology company focused on the development of innovative
medical products. Cardiovascular Sciences is currently
developing proprietary technology for the prevention of
post-surgical adhesions. Adhesions are fibrous scar tissue
formations that develop between tissues or organs following
trauma, or the insult to tissues and organs associated
with virtually any surgical procedure. The currently available
techniques, methods, and products used in treatment of
these indications are usually no more than 50% effective.
Cardiovascular Sciences, Inc.’s novel anti-adhesion
products are being developed to be more effective, easier
to handle, and much less costly than those currently on
the market.
This press release may contain forward-looking statements
within the meaning of the Private Securities Litigation
Reform Act of 1995. In particular when used in the preceding
discussion, the words believes, expects, intends, will,
anticipated or may and similar conditional expressions
are intended to identify forward-looking statements within
the meaning of the Act and are subject to the safe harbor
created by the Act. Except for historical information,
all of the statements, expectations and assumptions contained
in the foregoing are forward-looking statements that involve
a number of risks and uncertainties including, without
limitation, risks associated with operations, availability
of capital on a reasonable term, the effects of government
regulations and operations risks.
SOURCE Cardiovascular Sciences, Inc.; 3251 Progress Dr.,
#A-107; Orlando, FL 32826
About the UCF Technology Incubator
The UCF Technology Incubator is part of the UCF Incubator
Network. Since its founding in 1999, the UCF Technology
Incubator has helped more than 90 emerging technology companies
create over $200 million in annual revenue and more than
800 new jobs with an average salary of $59,000. The UCF
Technology Incubator was named 2004 Incubator of the Year
by the National Business Incubation Association. Headquartered
in Research Park near the University, the Incubator is
a true collaboration in economic development between UCF,
Orange County, the City of Orlando, the Florida High Tech
Corridor Council and the Metro Orlando Economic Development
Commission. For more information, please visit www.incubator.ucf.edu.
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