BioVascular, Inc. Merges with Revitus and Acquires First-In-Class Platelet Count Reducer

Company Doses First Subjects in Clinical Trial

    SAN DIEGO, Sept. 10 /PRNewswire/ -- BioVascular, Inc., a company focused on
 developing therapies targeting platelet-mediated diseases, today announced that
 it
 has merged with Revitus, a privately-held company developing a first-in-class
 platelet count reducer, BVI-007.  The announcement came as the first subject was
 dosed in a Phase Ia clinical trial of BVI-007, a thrombopoeitin antagonist that
 reduces platelet production without impacting platelet function.  BVI-007 is
 being
 developed for the prevention of myocardial infarction, thrombotic stroke and
 death
 in patients who have had a previous cardiovascular event.
     "BioVascular and Revitus were both focusing on novel therapeutics for
 platelet-mediated diseases," noted John Parrish, CEO of BioVascular. "By
 merging, we created a company with two compounds in clinical development.
 Both compounds target platelets, but with different mechanisms of action
 and therapeutic applications. Together, Revitus and BioVascular are
 developing a synergistic portfolio of unique compounds that could
 potentially solve major problems in the treatment of a wide range of
 vascular diseases."
     As part of the merger, Stephen Hanson, Ph.D., CEO of Revitus, will join
 BioVascular's board of directors. The merged company will be headquartered
 in San Diego. Terms of the merger were not disclosed.
     Phase Ia Trial Commencement
     BioVascular also completed the dosing of the first subjects in a Phase
 Ia clinical trial designed to evaluate the safety and pharmacokinetics of
 two novel controlled release formulations of BVI-007.
     "Given the limited efficacy and bleeding side effects associated with
 current
 products used to prevent heart attacks, a clear need exists for improved
 therapies," Dr. Hanson said. "Clinical evidence demonstrates that high numbers
 of
 circulating platelets are associated with an increased incidence of heart attack
 and thrombotic stroke.  While most companies are developing drugs that interfere
 with how a platelet functions, BVI-007 simply reduces the number of circulating
 platelets.  This novel therapeutic approach should allow for the prevention of
 thromboembolic events without increasing the risk of bleeding, potentially
 enabling
 safer, more effective preventative treatments for at risk patients."
     About BVI-007
     BVI-007 is BioVascular's second product candidate and acts to reduce
 platelet
 production without affecting platelet function or affecting the levels of other
 blood cellular components. Human clinical studies have shown that high platelet
 counts significantly correlate to the occurrence of secondary cardiovascular
 events
 such as myocardial infarction, thrombotic stroke and death.  BioVascular has
 secured exclusive worldwide rights to BVI-007.  After completion of the Phase Ia
 study to determine optimal formulation of BVI-007, a subsequent Phase Ib dose
 selection study is expected to start in Q4 2007.
     About BioVascular, Inc.
     BioVascular is a privately-held, cardiovascular and vascular disease focused
 company, dedicated to developing novel therapeutics for platelet-mediated
 disorders.  Started in 2005, the company is leveraging its exclusive rights to
 two
 clinical stage cardiovascular compounds with differentiated mechanisms of action
 to
 become a leading specialty therapeutics company.  BioVascular's most advanced
 clinical compound, saratin, is currently being studied in two Phase I/II
 clinical
 trials for vascular graft failures due to intimal hyperplasia.  The company
 recently acquired the full worldwide rights to BVI-007, which reduces platelet
 numbers without impairing platelet function.
 
 

SOURCE BioVascular, Inc.