Novoheart Contracts with Global Pharma to Develop Novel Microplate for High Throughput Drug Screening Using Engineered Human Heart Tissue Strips

• New 96-Well Microplates (hvCTS-96) to Further Advance MyHeart Platform Capabilities for High-throughput Screening of Compounds on Engineered Human Heart Tissue Strips
  
• Novoheart Partners with a Global Pharma to Design and Develop the New Microplate and Will Retain Full Ownership of All IP
• Novoheart is to Enter a Billion-dollar Market and Generate Recurring Revenue from the Sale of Microplates to Global Pharmas and Biotech Clients

VANCOUVER, British Columbia, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Novoheart (“Novoheart” or the “Company”) (TSXV: NVH; FWB: 3NH), a global stem cell biotechnology company, is pleased to announce the completion of a research and development contract sponsored by a top 10 global pharma. The contract deliverables will see Novoheart further expand its current testing capabilities of the MyHeart Platform by designing and developing a new versatile High-Throughput microplate which will allow the screening of hundreds of drugs using engineered human ventricular Cardiac Tissue Strips (hvCTS). Termed the hvCTS-96, the disposable microplate is a custom-designed plate with 96 "wells" used to simultaneously cultivate 96 individual miniature hvCTS, and will be compatible with robotic plate handling systems for automated high-throughput screening.

Drug discovery often starts with the screening of large numbers of compounds or candidates in order to identify those that are of interest (for example, those that can target a specific disease) for further testing and development. While generic microplates are commonly used in research to increase speed and efficiency through automated processes, custom-designed, specialist microplates are required for the growth of one small functional heart tissue strip per well.

Novoheart’s MyHeart Platform, which includes its ‘human heart-in-a-jar’ technology, is providing engineered human cardiac tissue models for testing the efficacy and safety of drugs to predict human responses with more accuracy. The hvCTS-96 will increase the breadth and depth of the MyHeart Platform by offering a range of complementary but distinctive novel technologies to clients. The microplate market is estimated at CAD$980M (USD$750M).¹

Novoheart retains ownership of all IP rights relating to the new microplate design. A sponsorship of ~CAD$400,000 by the global pharma partner was received by Novoheart for the design. The patent-pending, custom-designed microplates are to be sold on an ongoing basis as a screening and research tool to the contracted pharma partner, as well as being marketed and sold to other global organizations in the business of drug screening and development.