News article today. I would be interested in other people's opinion. Connie
Corporate Profile for Endovasc Ltd. Inc., dated March 12, 1999
March 12, 1999 10:08 AM EST
--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services.
Published Date: March 12, 1999
Company Name: Endovasc Ltd. Inc.
Address: 15001 Walden Road, Suite 108
Montgomery, TX 77356
Main Telephone
Number: 409/448-2222
E-mail Address: endovasc@lcc.net
Chief Executive
Officer: Dr. David P. Summers
Chief Operations
Officer: Gary R. Ball
Chief Scientific
Officer: Dr. Dan Lasic
Chief Financial
Officer: Dwight Cantrell, PA
Investor Relations
Contact: Patrick Rost
Business number: 760/942-0015
e-mail address: PMRandco@aol.com
Trading Symbol/
Exchange: ENDV / OTC BB
Industry: Biotechnology
Company description: Endovasc Ltd. Inc. (ENDV), a high technology drug delivery company, has developed a new medical product that may significantly impact the cardiology, radiology and oncology markets. Its core technology consists of the ability to formulate and produce extremely small drug microspheres called liposomes, which are coated with dissolvable fat or detergents, that time-release within a specific blood vessel or target organ tissue.
Liposomal Prostaglandin E1 (Liprostin ((TM))), the company's first product, is a patented drug and delivery (liposome) system which can be site-delivered to a specific vascular area for treatment of occlusive vascular disease and other indications.
Technology Base: Three U.S. patents and 15 years of research, proprietary technology and patents pending on this uniquely modified PGE-1 application which ENDV now seeks to bring to market. The first product was developed for treatment of occlusive vascular disease and prevention of smooth muscle cell hyperplasia by Liprostin(TM). The market potential is U.S. $1 billion as 50% of all vascular angioplasties reocclude.
Market and Objectives: ENDV's markets exceed $2 billion. Diagnosis and treatment of heart disease and cancer are the primary focus of the company. ENDV's principal objective is to establish itself as an innovative technical and marketing leader in liposomal drug delivery by producing unique liposomal products which satisfy the needs of cardiologists, interventional radiologists, vascular surgeons and oncologists.
Financial Plan: ENDV is raising private placement investments of $2 to $5 million until the company can raise approximately $15 million in a secondary public offering in 2000. ENDV seeks funding to complete its regulatory approvals in Europe and the U.S., continue liposome and stent coating projects at the Texas University of Health Science Center and Baylor College of Medicine in Houston, purchase additional equipment, lease facilities and to staff its personnel needs to enter the market rapidly.
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