SANTA CLARA, Calif., Nov. 15, 2010 /PRNewswire-FirstCall/ —
NewCardio, Inc., (OTC Bulletin Board:
NWCI) a cardiac diagnostic technology provider, today announced
financial results for the third quarter and nine months ended
September 30, 2010. More details on the financial results are
available in the SEC Form 10-Q, filed today with the Securities and
Exchange Commission.
“We continue to make progress in the commercialization of our
initial solution, QTinno™, and in securing the strategic
funding which will accelerate the development and commercialization
of our 3-D platform technology solutions, including
CardioBip™, the emerging opportunity in telemedicine with
remote patient monitoring – and my3KG™ – whose first
deployment is expected to be in the emergency room,” commented
Vincent Renz, NewCardio’s President and CEO. “We are gaining
visibility to a growing number of Phase 1 QT studies,
from both current and prospective customers, and we remain
optimistic regarding acceleration of revenues due to pent-up demand
for these studies as the economy, and with it, the market, improve.
Our initiative to identify a strategic funding partner also
continues to move forward, and I am encouraged by the progress to
date and continue to believe we are on the right path towards
securing strategic funding to support our development and
commercialization activities.”
Highlights
Pharma Lynx, a global contract research organization and a
subsidiary of Diverse Lynx, has signed an MSA to license
NewCardio’s QTinno solution for use in Phase 1 studies. To date,
the Company has 7 MSAs, including three of the top five Contract
Research Organizations (CROs) in the world, and QTinno has been
selected by two pharmaceutical companies as the preferred solution
for automated QT studies. The Company bolstered its position with
industry l
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