SOURCE: Cardiovascular Sciences

February 26, 2008 10:27 ET

Cardiovascular Sciences, Inc. Enters Into Agreement With Medical Technologies Enterprises, Inc.

ORLANDO, FL--(Marketwire - February 26, 2008) - Cardiovascular Sciences, Inc. (PINKSHEETS: CVSC), a corporation under the laws of Nevada and a client company of the High Technology Incubator at the University of Central Florida, is proud to announce that it has reached a partnership agreement with Medical Technologies Enterprises, Inc. of Palm Harbor, FL. Cardiovascular Sciences, Inc. is researching and developing its proprietary technology designed to address a need for a better and more effective product to prevent post-surgical adhesions and its complications.

Medical Technologies Enterprises, Inc.'s founder and president, Mr. Eric O. Edelmann, has extensive experience as a business development consultant, serving many Fortune 500 companies over more than 35 years. His firm, Strategic Futures International, Inc., boasts many clients, ranging from the local companies in the area up to global conglomerates. Medical Technologies Enterprises, Inc. was founded as a retail enterprise to market various proprietary and generic items, including some medical supplies, various medical testing kits and as well as an assorted array of supplements.

"We see several advantages to such a strategic partnership," explains Cardiovascular Sciences, Inc.'s CEO, Dr. Larry Hooper. "Initially, there will be an economy resulting from sharing many of the administrative operations of the two companies. Second, it gives us a retail presence in the marketplace and on the web. It is seldom that a company, at this stage in the development of its primary medical technology, has a revenue generating retail market presence."

Similarly enthusiastic, Medical Technologies Enterprises, Inc.'s Eric Edelmann exclaims, "This joint agreement gives both companies a presence and access to the entire path from development to market, from bench to bedside so to speak."

John Martin, who was recently appointed to the board of Cardiovascular Sciences, Inc., has extensive experience with formulating and marketing various supplement lines. "I see this as an excellent way to create and grow a significant revenue stream at a very early stage. Additionally, it will diversify the company's profit centers as Cardiovascular Sciences, Inc. continues to develop it's proprietary medical technologies." Mr. Martin has a proven track record in developing and marketing successful health enhancement strategies and supplements.

Both companies are excited about the possibilities this represents and the likely beneficial impact it will have, not just on the near term financials, but also in the longer term as it allows for an equity-sparing stepping up the pace of development of Cardiovascular Sciences, Inc.'s anti-adhesion technology and allows Medical Technologies Enterprises, Inc.'s access to and early entry into markets with needs addressed by this technology and other related technologies.

About Cardiovascular Sciences

Cardiovascular Sciences, Inc. is an advanced medical device company which is developing a novel technology platform to address the problem of post-surgical and post-traumatic adhesions. Adhesions and the complications of adhesions are a significant problem worldwide for a wide range of specialists, including general surgeons, cardiothoracic surgeons, orthopedic, plastic, and ophthalmologic and otolaryngology specialists to name just some of them. In addition, the veterinary field has a tremendous need for a product that can prevent similar problems in a wide variety of animals.

The Company's unique materials and processes promise a more cost-effective and decidedly more efficient and capable means to deal with a problem that has been so devastating to so many. Current sponsored research at the University of Central Florida (UCF) and previously at other institutions indicate that The Company is on the right path and progressing well.

In addition to the anti-adhesion technology, The Company owns technology in a variety of other areas, including thrombo-resistant coatings, enhanced intra-arterial balloon pumping catheters, cell engineered vascular tissues, and a method for improved recovery of the heart following cardioplegia. This yields a diversified portfolio with projects in various stages of development.

Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.

Contact Information

  • For more information contact:
    Cardiovascular Sciences Investor Relations