SOURCE: AtheroNova Inc.

AtheroNova Inc.

September 12, 2011 09:20 ET

AtheroNova CEO Tom Gardner to Present at Rodman & Renshaw Conference Tuesday, September 13

Highlights of Mr. Gardner's Presentation to Include Recently Announced Maxwell Biotech Group Agreement and MOA of AtheroNova's AHRO-001 Lead Atherosclerotic Plaque Regression Compound

IRVINE, CA--(Marketwire - Sep 12, 2011) - AtheroNova Inc. (OTCBB: AHRO) ("AtheroNova"), a biotech company focused on the research and development of compounds to regress atherosclerotic plaque, will be a presenting company at the Rodman & Renshaw 13th Annual Healthcare and Global Investment Conference to be held in New York City from September 11-13, 2011 at the Waldorf-Astoria. Thomas W. Gardner, CEO of AtheroNova, will present at 3:15pm ET on September 13.

Highlights of Mr. Gardner's presentation will include a discussion of AtheroNova's recently announced agreement with the Maxwell Biotech Group ("Maxwell") to license commercialization rights for AtheroNova's AHRO-001 lead atherosclerotic plaque regression compound. Maxwell, with funding provided by the Maxwell Biotech Venture Fund, Russia's premier biotech venture capital firm, will become equity investors in AtheroNova and commit to fund Phase I and Phase II human clinical studies in Russia. In return for this investment, AtheroNova will issue up to $4.1 million in common stock and grant to Maxwell an exclusive license to develop and commercialize AHRO-001 in the territory encompassing the Russian Federation, Belorussia, Ukraine, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Moldova, Azerbaijan and Armenia.

Mr. Gardner will also discuss AHRO-001, the Company's lead compound for the regression of atherosclerotic plaque, with updates on developments regarding the mechanisms of action of AHRO-001 which include decreasing cholesterol absorption, decreasing plasma LDL cholesterol levels, upregulating ABCA1/ABCG1 gene expression and increasing the efficiency of HDL. Additionally, Mr. Gardner will discuss the Company's pipeline and development plans.

In addition to the presentation, Mr. Gardner will be available to meet with analysts, industry executives and investors in one-on-one meetings. Those interested in meeting with Mr. Gardner for a one-on-one discussion during the Conference are encouraged to contact the Company directly at info@atheronova.com.

About AtheroNova

AtheroNova Inc., through its wholly-owned subsidiary, AtheroNova Operations, Inc., is an early stage biotech company focused on discovery, research, development and licensing of novel compounds to reduce or regress atherosclerotic plaque deposits. The Company's focus on compounds to reduce or eliminate atherosclerotic plaque deposits addresses the most lucrative segments of the multi-billion dollar prescription drug market: cardiovascular disease and stroke prevention.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the Company's pipeline, milestones, future filings and trials, mechanisms of action, licensing agreements and equity investment as well as the development of applications for AtheroNova's technology. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as significant fluctuations in expenses associated with clinical trials, failure to secure additional financing, the inability to complete regulatory filings with the Food and Drug Administration, the introduction of competing products, or management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in AtheroNova's filings with the United States Securities and Exchange Commission. AtheroNova undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Company Contact:

    Thomas Gardner
    Chief Executive Officer
    (949) 476-1100

    Mark Selawski
    Chief Financial Officer
    (949) 476-1100

    Investor Contact:

    Leon Hamerling
    Investor Media Group
    (877) 725-2500