CardioVascular BioTherapeutics, Inc. (OTCBB: CVBT) has been recognized in an article in the February 2008 issue of Nature Biotechnology Magazine for its progressive development of a pharmacoeconomic strategy for the commercialization of its drug candidate CVBT-141H. The drug, which is moving into a US FDA approved Phase II clinical trial, treats severe coronary heart disease (CHD) and contains the active pharmaceutical ingredient (API) human fibroblast growth factor-1 (FGF-1).
The article in this prestigious publication addresses the importance of building pharmacoeconmic data into drug development plans and clinical trials in collaboration with payers to ensure that treatments are not only efficacious but economically viable. CVBT is featured in a case study for its focus on pharmacoeconomics as well as efficacy and safety.
According to the Nature article, unlike most biotech companies, CVBT began creating its commercialization strategy very early on in the drug development process. Daniel C. Montano, CVBT’s CEO, believes that its “healthcare value strategy is a critical component of our overall commercialization plan.” In addition to addressing the clinical needs of patients and physicians, CVBT is seeking to address the healthcare value needs of payers by ensuring that CVBT-141H is cost-advantageous. Mr. Montano states, “Our drug could reduce the expensive treatment costs of these patients.”
Although the expectation of reduced treatment costs are based upon initial pharmacoeconomics data, Mr. Montano believes a proactive commercialization strategy has “helped direct us down pathways for clinical development and create a pricing scenario that balances returns to our shareholders with the healthcare system’s needs.”
Please go to www.cvbt.com/news/mediacoverage.shtml to read the article.
About CardioVascular BioTherapeutics
CVBT is a biopharmaceutical company developing drug candidates with FGF-1 as its active pharmaceutical ingredient (API) for diseases characterized by inadequate blood flow to a tissue or organ. The company has FDA-authorization for a Phase II trial to treat severe Coronary Heart Disease (CVBT-141H) and a Phase I trial to treat Peripheral Arterial Disease (CVBT-141C). A Phase Ib or Phase II trial to treat dermal wound healing in diabetics (CVBT-141B) is planned to begin in 2008. Please visit www.cvbt.com for more information.
This news release contains forward-looking statements that involve risks and uncertainties. Actual results and outcomes may differ materially from those discussed or anticipated. For example, statements regarding expectations for new research, progress with clinical trials or future business initiatives are forward looking statements. Factors that might affect actual outcomes include, but are not limited to, FDA approval of CVBT drug candidates, market acceptance of CVBT products by customers, new developments in the industry, future revenues, future expenses, future margins, cash usage and financial performance.
CardioVascular BioTherapeutics, Inc.
Allison Lipson, 702-839-7200
alipson@cvbt.com