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NewCardio Awarded Key U.S. Patent for CardioBip
Thursday, January 14, 2010
U.S. Patent and Trade Office (PTO) Approves Patent for Device and Methodology for Transtelephonic Transmission of ECG Data for Monitoring of Acute Cardiac Conditions
San Jose, CA -- NewCardio, Inc., (OTC Bulletin Board: NWCI) a cardiac diagnostic technology provider, announced today that on January 12, 2010, it received notice of allowance for U.S. patent 7,647,093, titled "Apparatus and method for cordless recording and telecommunication transmission of three special ECG leads and their processing," from the U.S. Patent and Trademark Office. This represents the core patent for CardioBip™ and, in conjunction with the two encouraging validation studies announced on January 5, 2010, validates the CardioBip technology, positioning NewCardio as an emerging leader in remote cardiac monitoring.
The CardioBip is a unique, hand-held device that provides a solution for ECG telemonitoring. Patients can carry the CardioBip with them and use it to generate and transmit synthesized, accurate 12-lead ECGs at physician prescribed intervals of time, during ordinary daily activity or when symptoms develop. What makes CardioBip unique is its extreme ease of use, combined with the ability to generate recordings substantially equivalent in quality with standard 12-lead ECGs. The CardioBip works without any cables, cumbersome leads, wires or inconvenient skin electrodes, as the device's electrodes are integrated, offering potential compatibility with popular hand-held PDA platforms.
Branislav Vajdic, Ph.D., chief executive officer of NewCardio, Inc., commented, "This patent strengthens our intellectual property protection creating a significant barrier to entry for a competing device. We believe the CardioBip technology fills an important technological and diagnostic void, enabling not only rhythm diagnosis, but also detection of ischemic ECG changes and precise reconstruction of atrial activity. At present there is no convenient and reliable method for remote monitoring and detection of either ischemic events or derangements of atrial electrical activity, but this patent and the two recently completed validation studies indicate that the CardioBip may potentially fill this need. This patent protects the core technology underlying the CardioBip. The patent comes immediately following the encouraging results from two validation studies, which confirmed CardioBip's ability to record, reconstruct and transmit an accurate, high-resolution 12-lead ECG. NewCardio is committed to advancing the widely accepted 12-lead ECG to deliver innovation to the cardiac sciences. We are gratified by the U.S. Patent and Trademark Office's grant of patent rights and pleased that they approved all 33 claims."
Dorin Panescu, Ph.D., NewCardio's Chief Technical Officer and Vice-President of Research and Development, added, "NewCardio remains committed to an aggressive and comprehensive intellectual property (IP) strategy. The Company's IP portfolio evenly covers innovation and invention for all three of our solutions: QTinno™, CardioBip and Visual3Dx™. The patent issued today stresses the importance NewCardio places on patient-friendly, effective and accurate remote wireless patient monitoring, an important, emerging and under-served segment of health care."
About NewCardio, Inc.
NewCardio is a cardiac diagnostic and services company developing and marketing proprietary software platform technologies to provide higher accuracy to, and increase the value of, the standard 12-lead electrocardiogram (ECG). NewCardio's three-dimensional ECG software platform reduces the time and expense involved in assessing cardiac status while increasing the ability to diagnose clinically significant conditions which were previously difficult to detect. NewCardio's software products and services significantly improve the diagnosis and monitoring of cardiovascular disease, as well as cardiac safety assessment of drugs under development. For more information, visit www.newcardio.com.
This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based on currently available information and assumptions made by management. Although we believe that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or nonoccurrence of future events. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including the potential risks and uncertainties set forth in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2008 and relate to our business plan, our business strategy, development of our proprietary technology platform and our products, timing of such development, timing and results of clinical trials, level and timing of FDA regulatory clearance or review, market acceptance of our products, protection of our intellectual property, implementation of our strategic, operating and people initiatives, benefits to be derived from personnel and directors, ability to commercialize our products, our assumptions regarding cash flow from operations and cash on-hand, the amount and timing of operating costs and capital expenditures relating to the expansion of our business, operations and infrastructure, implementation of marketing programs, our key agreements and strategic alliances, our ability to obtain additional capital as, and when, needed, and on acceptable terms and general economic conditions specific to our industry, any of which could impact sales, costs and expenses and/or planned strategies and timing. We assume no obligation to, and do not currently intend to, update these forward-looking statements.
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