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Cambridge Consultants validates Bioheart Korea’s admission to UK AIM market

Cambridge Consultants : 13 March, 2008  (Company News)
Cambridge Consultants has validated the work of a Bioheart Korea (BHK), which is a company pioneering cell therapy with the potential to revolutionise the treatment of heart failure and has become Korea’s first company to successfully be admitted to the UK AIM market.
BHK not only develops and manufacturers artificial organs, but also has one of the largest state-of-the-art cell medicine production facilities in Asia to harvest adult stem cells for its cell therapy product, Myocell.

Cambridge Consultants’ healthcare consulting team prepared the independent Expert’s Report, which has supported and validated BHK and the science behind its products.

Projections indicate that, worldwide, coronary artery disease will be one of the largest killers by 2020, with the bulk of the increase attributed to the developing world. BHK’s cell therapy product, Myocell, is intended to treat heart failure without major surgery. This is achieved through the cultivation of autologous adult stem cells taken from the patient’s thigh muscle in order to reduce the risk of tissue rejection. After harvesting, these stem cells are injected into the damaged region of the patient’s heart using a method that is less invasive than current available treatments. The adult stem cells then stimulate growth and repair, regenerating the damaged cardiac muscle tissue, improving the contractibility of the heart and its overall performance.

Myocell aims to provide an opportunity to those with heart failure to live a more fulfilling life, and has been implanted into patients as part of the phase II/III clinical trials in Korea.

Cambridge Consultants’ healthcare consulting team prepared the Expert’s Report, which was published as part of the AIM Admission Document, on behalf of Bioheart Korea. Cambridge Consultants examined all aspects of BHK’s business, ranging from the science, technology, clinical development, through to Korean regulations, manufacturing and the experience of the management team.

Alex Choi, chief executive officer of BHK said, “Cambridge Consultants is renowned as a leading and established provider of independent reports in the biotech, pharmaceutical and medical device industries, which is why we contracted them to conduct this Expert’s Report. We were impressed with how quickly they understood our science and business. Their report has certainly helped a wider audience grasp the benefits of our MyoCell treatment for heart disease.”

Dr Elizabeth Hill, head of the transaction support group at Cambridge Consultants said, “The use of autologous stems cells to treat a variety of medical needs is a growing market that we are very excited to be working in. We are pleased that the validation work we have carried out on BHK’s underlying science has helped this particular field of medical treatment. It is great to be involved in one of Asia’s first cell therapy companies to be successfully admitted to the UK AIM market.”
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