SUNRISE, Fla., Jan. 30, 2012 (GLOBE NEWSWIRE) — Bioheart (OTCBB:BHRT.OB – News), a leader in developing stem cell therapies to treat cardiovascular diseases, today announced that Frank Young will join Bioheart to be a financial consultant. Young will provide financial oversight of the company's capital fundraising efforts and cultivate relationships within the financial and health care communities to support Bioheart's business goals.
Young previously served as chief financial officer (CFO) with Bioheart from 2003 to 2005. He has more than 30 years' experience launching and managing venture-backed companies in the technology and health care industries.
“Frank's entrepreneurial spirit and successful fundraising strategies, combined with his previous accomplishments at Bioheart, make him an ideal fit for Bioheart,” said Mike Tomas, Bioheart's president and CEO. “Frank has a proven track record launching, managing and financially advising numerous companies across the healthcare industry.”
Previously Young worked as CFO with CURNA,a health care company known for its discovery of new therapeutic compounds. He engineered the sale of the company in fewer than two years for more than five times the invested capital. He also worked as CFO with Mitral Solutions and Hyperion. As CFO with Bioheart, Young assisted in raising more than $9.5 million from investors in addition to negotiating international manufacturing arrangements and joint ventures.
“I have always been impressed with Bioheart and its success with stem cell research,” Young said. “I look forward to becoming an integral part of Bioheart's financial future as it continues to develop life-saving technologies for victims of heart disease.”
About Bioheart
Bioheart (OTCBB:BHRT.OB – News) is committed to developing stem cell therapies to treat congestive heart failure, lower limb ischemia, chronic heart ischemia, acute myocardial infarctions and other medical problems. The company focuses on the discovery and development of therapies that will improve patients' quality of life and reduce health care costs and hospitalizations. Bioheart's leading product, MyoCell, is a muscle-derived cell therapy designed to populate regions of scar tissue within a patient's heart to improve cardiac function. For more information, visit www.bioheartinc.com.
For more information on Bioheart, visit http://www.bioheartinc.com.
Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “to,” “plan,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” or “continue” or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2010, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2011.
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Frank Young Joins Bioheart as Financial Consultant