SOURCE: Cardiovascular Sciences

March 12, 2008 09:54 ET

Cardiovascular Sciences, Inc. Selected for Advanced Invention to Venture Workshop

ORLANDO, FL--(Marketwire - March 12, 2008) - Cardiovascular Sciences, Inc. (PINKSHEETS: CVSC), a client company of the award winning University of Central Florida Technology Incubator program, was selected for the Advanced Invention to Venture training and assistance. This is an intense, practical oriented course facilitated by Courtney Price and Mack Davis, cofounders of Venture Quest, Ltd. (http://www.venturequestltd.com) and co-authors of the entrepreneur's textbook, "Fueling Innovation." Entrepreneurship training materials developed by Ms. Price and Mr. Davis have been selected as the best entrepreneurship training available in the country by the Kaufman Foundation of Kansas City, MO.

The program begins with an intensive four-day workshop that is held around the country several times a year for a half dozen invited companies, all at various stages of development. The program is presented as part of a contract Venture Quest Ltd. has with the National Collegiate Inventors and Innovators Alliance (NCIIA, http://www.nciia.org). Following successful completion of the initial program, there is a six to eight week customized assistance and mentoring program provided to the individual companies. This phase is mentored by any of a number of previously successful entrepreneurs who have taken an idea from creation to market. The goal is to help a company outline a plan of commercialization of their technologies from out of the laboratory and into the marketplace. This particular conference was hosted by the UCF Technology Incubator in their brand new Winter Springs Technology Incubator facility. Five other companies from areas as far away as Virginia were selected and attended this program.

The overall goal of this valuable program is to help companies identify and develop marketable technologies, bringing them out of the laboratory and launching them successfully into the marketplace. A series of online diagnostic tools developed by Venture Quest Ltd. are made available to the companies to assist the participating companies in developing and expanding their organizational, operational and commercialization plans. There is an emphasis on the rapid commercialization of the technology. Included in the training and assessment is a review of many of the various strategies for funding, protecting intellectual property and options possible for licensing and distribution. The four-day rigorous curriculum culminates with the participating companies making targeted presentations before a group of investors and entrepreneurial professionals.

"This workshop was intense but the material is invaluable," described Dr. Hooper following the successful completion of the in-depth four-day workshop. "The process of carrying an invention from the lab all the way to the marketplace is covered step-by-step. I feel something like this is essential for any small company in order to effectively and efficiently commercialize their first technologies." He goes on to add, "I am really looking forward to the continued assistance provided by the individualized mentoring to assist us in continuing to moving forward from here."

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. www.cvsciences.org

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
    800-858-7502
    ir@cvsciences.org