Continued Success of Novoheart to Receive R&D Grants

Innovation Technology Fund for Developing Smart Cardiac Screening Technologies - Seite 2

“Novoheart is delighted to receive this latest round of grant funding from the ITC – a great recognition of our work throughout the past years. We are grateful for the continued support as we advance towards our goal of revolutionizing drug discovery and improving the lives of patients around the world,” said Novoheart Co-founder and Chief Scientific Officer, Professor Kevin Costa.

NOVOHEART RETAINS MARKET-MAKING SERVICES

Novoheart has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (“VLP”) to perform market-making service to assist in maintaining an orderly trading market for the common shares of the Company (the “Common Shares”). VLP will buy and sell the Common Shares through the facilities of the TSX Venture Exchange (the “TSX-V”) to maintain an orderly trading market and/or provide liquidity in the Common Shares.

The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX-V and other applicable laws. For its services, Novoheart has agreed to pay VLP $5,000 CAD per month for a period of 12 months. The agreement may be terminated at any time by the corporation or VLP. The corporation and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the corporation or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the Company to VLP is for services only.

VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.

About Novoheart:

Novoheart is a global stem cell biotechnology company pioneering an array of next-generation human heart tissue prototypes. It is the first company in the world to have engineered miniature living human heart pumps that can revolutionize drug discovery, helping to save time and money for developing new therapeutics. Also known as 'human heart-in-a-jar', Novoheart’s bio-artificial human heart constructs are created using state-of-the-art and proprietary stem cell and bioengineering approaches and are utilized by drug developers for accurate preclinical testing of the effectiveness and safety of new drugs, maximizing the successes in drug discovery whilst minimizing costs and harm caused to patients. With the recent acquisition of Xellera Therapeutics Limited for manufacturing Good Manufacturing Product (GMP)-grade clinical materials, Novoheart is now developing gene- and cell-based therapies as well as next-generation therapeutics for cardiac repair or regeneration.