Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : World Heart Corp - WHRT and TSE/WHT -- Ignore unavailable to you. Want to Upgrade?

To: Stang who wrote (405)	2/17/2000 4:09:00 PM
From: jim	Read Replies (1) \| Respond to of 500

I covered my short with the drop after the news, didn't make as much as I would have liked. If it keeps running up to this conference etc I'll short again. Do yourselves a favour and ask some serious questions here. Where do they stand with the power pack, describe the problems they had, get timelines, get them to explain what is required for an HPB submission, ask why they had management changes, who is taking the responsibility for the delay, what makes them think it won't happen again. People you will not like the answers IMHO.

To: Stang who wrote (405)	2/29/2000 9:55:00 AM
From: Stang	Read Replies (1) \| Respond to of 500

WORLD HEART CORPORATION ANNOUNCES $15.6 MILLION BOUGHT DEAL OTTAWA, ON, Canada, February 29 /CNW/ - World Heart Corporation (``WorldHeart' or the ``Corporation') announced today that it has entered into a ``bought deal' agreement with a syndicate of underwriters led by Yorkton Securities Inc., and including First Associates Investments Inc., to issue and sell 800,000 Common Shares of the Corporation. The issue has been priced at Cdn $19.50 per Common Share, for estimated gross proceeds of $15,600,000, with an option to increase the issue to 850,000 Common Shares ($16,575,000). The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals and to the execution of definitive documentation. WorldHeart will be filing a preliminary prospectus qualifying the Common Shares forthwith. The Common Shares have not been, and will not be registered under the United States Securities Act of 1933, as amended, (the ``Act') and may not be sold or offered for sale in the United States or otherwise distributed in the United States unless they are registered under the Act or an exemption therefrom is available. WorldHeart intends to use the net proceeds of this offering for clinical trials for its HeartSaverVAD(TM) System and related commercialization activities. ``This issue will bring our cash reserves to more than $38 million', said Roderick M. Bryden, President and Chief Executive Officer, ``and will fund the Corporation through 2000 and 2001, by which time we expect to commence commercial production and sale of our HeartSaverVAD(TM) product'. WorldHeart is a medical devices business focused on commercialization of artificial heart and related technologies for which worldwide rights were acquired from the University of Ottawa Heart Institute. Continuing research and development of these technologies is carried out under contract to WorldHeart by the Cardiovascular Devices Division of the Ottawa Heart Institute Research Corporation, an affiliate of the University of Ottawa Heart Institute. WorldHeart is a public company whose shares trade on The Toronto Stock Exchange (ticker symbol: WHT) and the NASDAQ National Market (ticker symbol: WHRT). Any forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including without limitation, risks in product development and market acceptance of and demand for the Corporation's products, risks of downturns in economic conditions generally, and in the medical devices markets, risks associated with costs and delays posed by government regulation, limitations on third party reimbursement, inability to protect proprietary technology, potential product liability and other risks detailed in the Corporation's filings with the U.S. Securities and Exchange Commission. All financial figures are prepared in accordance with Canadian generally accepted accounting principles (GAAP) and are expressed in Canadian dollars. newswire.ca Stang

To: Stang who wrote (405)	2/29/2000 9:57:00 AM
From: Stang	Read Replies (1) \| Respond to of 500

Kasten Chase provides wireless communications devices to WorldHeart TORONTO, Feb. 29 /CNW/ - Kasten Chase (TSE-KCA) today confirmed that it has received its second order to supply World Heart Corporation with wireless communications devices for the ongoing trials of WorldHeart's Ventricular Assist Device (VAD), a system which is designed to assist the normal operation of a patient's own heart. The VAD, known as HeartSaverVAD(TM), is fully implanted in the chest and powered through a highly innovative Transcutaneous Energy Transfer (TET) technology. The TET technology enables the implanted device to be monitored and controlled externally via a small controller located on the belt of the recipient, without the need for wires or other direct connections through the skin. The External Controller is wirelessly connected to a Clinical User Interface to monitor and control the HeartSaverVAD. The wireless data transfer capabilities of the Kasten Chase product will permit heart and device monitoring and allow override control from remote locations using fully integrated data communications capabilities. "We have been working with Kasten Chase for some time to integrate their wireless technology into HeartSaverVAD and are encouraged by the significant progress we have made," said Bob Corson, executive vice president of operations at WorldHeart. "The freedom and self-sufficiency that wireless access provides is a very important part of making this medical solution as patient-friendly as possible." WorldHeart estimates manufacturing will produce 12,500 VAD units by the year 2004. Current schedules call for human trials to begin in the fourth quarter 2000 with approved product availability in 2001. "WorldHeart's application takes advantage of the unique strengths and universal attributes of our wireless technology," said Paul Hyde, president and chief executive officer at Kasten Chase. "The data security aspects and use of the Internet to remotely access the HeartSaverVAD make this a particularly interesting and clearly advanced wireless application. It is yet another example of the application of Kasten Chase wireless technology, in this case providing secure communications in an exciting new area of biotechnology." About Kasten Chase Kasten Chase is focused on technology incubation for the purposes of providing advanced, fully integrated data communications solutions in the areas of data security, Internet access and wireless data communications. The company is headquartered in Toronto, Canada with US offices located in Reston, Virginia. For further information, visit the company's website at kastenchase.com. About WorldHeart WorldHeart is a medical devices business focused on commercialization of artificial heart and related technologies for which worldwide rights were acquired from the University of Ottawa Heart Institute. Continuing research and development of these technologies is carried out under contract to WorldHeart by the Cardiovascular Devices Division of the Ottawa Heart Institute Research Corporation, an affiliate of the University of Ottawa Heart Institute. WorldHeart is a public company whose shares trade on the Toronto Stock Exchange (ticker symbol: WHT) and the Nasdaq National Market (ticker symbol: WHRT). newswire.ca Stang