IRVINE, Calif., Sept. 26, 2011 /PRNewswire/ -- AtheroNova Inc. (OTCBB: AHRO) ("AtheroNova"), a biotech company focused on the research and development of compounds to regress atherosclerotic plaque, has made a copy of the presentation shown at the Rodman and Renshaw 13th Annual Healthcare Conference available on the Company website at: www.AtheroNova.com .
"We were very pleased with the reception we received following our first major conference presentation at the Rodman & Renshaw Healthcare Conference last week in New York," said Thomas W. Gardner, CEO of AtheroNova. "Positive response keeps coming in including a column in Seeking Alpha that described AtheroNova as one 'of the new companies,' that 'stood out,' at the conference. As we continue to advance our drug development program, we will also continue to enhance our communications with the investors and look forward to meeting with investors at future conferences."
Highlights of the presentation include:
- $4.1 Million Maxwell Agreement for Phase I and Phase II Clinical trial funding (details below)
- $41+ Billion in Annual US Drug Costs related to Atherosclerosis
- Anticipated Near Term Milestones
- Potential Market Size
- Pre-clinical Studies
- Drug Development Timeline
- Management/Scientific Advisory Board
The presentation also contains an update on the Mechanisms of Action (MOA) properties of AtheroNova's AHRO-001 lead compound for the regression of atherosclerotic plaque, which include:
- Decreasing cholesterol absorption
- Decreasing plasma LDL cholesterol levels
- Upregulating ABCA1/ABCG1 gene expression
- Increasing the efficiency of HDL
- Potential Plaque Reversibility
- Stimulate Reverse Cholesterol Transport
- Atheroprotective Effects
As well as updates on the Company's innovative Drug Development Pipeline which currently encompasses:
Enteric coated tablet
Enteric stepwise therapeutic
Dissolution of lipomas
Localized transdermal fat dissolution
Information is also presented on the Company's recently announced agreement with the Maxwell Biotech Group ("Maxwell") to license commercialization rights for AtheroNova's AHRO-001 lead atherosclerotic plaque regression compound. Maxwell, with funding provided by the Maxwell Biotech Venture Fund, Russia's premier biotech venture capital firm, will become equity investors in AtheroNova and commit to fund Phase I and Phase II human clinical studies in Russia. In return for this investment, AtheroNova will issue up to $4.1 million in common stock and grant to Maxwell an exclusive license to develop and commercialize AHRO-001 in the territory encompassing the Russian Federation, Belorussia, Ukraine, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Moldova, Azerbaijan and Armenia
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 eliminate atherosclerotic plaque deposits addresses the most lucrative segments of the multi-billion dollar prescription drug market: cardiovascular disease and stroke prevention. www.AtheroNova.com
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 pipeline, milestones, future filings and trials, markets, mechanisms of action, licensing agreements and equity investment 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.