SOURCE: Rheologics Technologies, Inc.

August 02, 2006 10:10 ET

HeartWare Limited Acquires Rheolog™ Blood Viscometer Device From Rheologics Technologies, Inc.

SINKING SPRING, PA -- (MARKET WIRE) -- August 2, 2006 -- Rheologics Technologies, Inc. (PINKSHEETS: RTGI) ("Rheologics"), the leader in the study of blood viscosity and its relationship to cardiovascular and vascular diseases is pleased to announce that HeartWare Limited (ASX: HTW) ("HeartWare"), a medical device company headquartered in Sydney, Australia, has acquired a Rheolog™ blood viscometer.

HeartWare is developing a suite of heart pump technologies (implantable circulatory assist devices) targeting the heart failure market. Heart failure is one of the leading causes of death in the developed world, affecting over 10 million people globally. HeartWare's innovative technologies include a "third-generation" pump called the HVAD™ ventricular assist device, the smallest full-output pump in development.

Dr. Kenneth R. Kensey, founder and Chief Scientific Officer of Rheologics, said, "HeartWare is an innovative medical device company, and we are pleased to place a Rheolog™ there. Heart failure is not only a large and unsatisfied market, but also an important field of medical research. I hope that the Rheolog™ will assist HeartWare in their efforts."

Rheologics' current diagnostic offering, called the Rheolog™, is an IDE-exempt device that measures whole blood viscosity, a basic human physiologic parameter. The Rheolog™ is being used in clinical research settings to aid physicians in the interpretation of disease conditions. At present, the technology has completed its beta stage and is being readied for commercialization. The Rheolog™ is also being used extensively for research in the development of therapeutic interventions that address the root cause of cardiovascular disease.

About HeartWare

HeartWare Limited, headquartered in Sydney, Australia is developing a family of implantable circulatory assist devices, or "heart pumps" which are aimed at treating patients with congestive heart failure. HeartWare's technology platform enables the development of devices that are considerably smaller than other available devices. This ability to "miniaturize" gives rise to significant potential advantages, in terms both of improved patient outcome and the ability to treat a far wider range of patients and conditions. For more information, please visit:

About Rheologics Technologies, Inc.

Rheologics Technologies, Inc. is committed to developing and commercializing innovative medical products that significantly improve the diagnosis and treatment of human disease and that assist in the development of new drug compounds. The Company is accomplishing its mission by monitoring an overlooked basic physiological parameter -- whole blood viscosity. Rheologics believes that its proprietary innovations will ultimately enable the preventative diagnosis of diseases and the development of new cost-effective therapies that conquer today's most difficult medical problems, thereby improving the quality of life for millions of people worldwide. Further information on Rheologics may be found at

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding the following: the Company's beliefs about the benefits of its technology; the Company's expectations of its technology; the Company's beliefs about the performance capabilities of its technology; the Company's ability to commercially license its technology; the ability of the Company to hire employees sufficient to accelerate engineering and testing; and the Company's beliefs regarding its research and development efforts. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, our inability to achieve commercial acceptance of our technology, our inability to compete effectively in the marketplace, our inability to improve or implement effective systems, procedures and controls, the strength of our patent and pending patents and other intellectual property and those of our competitors, our inability to protect our intellectual property, our inability to attract, train and retain key personnel, and such other risks. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

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