Novoheart Named 2020 Venture 50 Company, Ranked Among Year’s Top Performing Stocks in Life Sciences

• Novoheart Among Top 10 TSX-V Performers in Clean Technology & Life Sciences Sector
• Ranking based on share price increase, trading volume and market capitalization

VANCOUVER, British Columbia, Feb. 20, 2020 (GLOBE NEWSWIRE) -- Novoheart (“Novoheart” or the “Company”) (TSXV: NVH; FWB: 3NH), a global stem cell biotechnology company, is pleased to announce that it has been named a 2020 Venture 50 Company, ranked among the TSX Venture Exchange’s top 50 best performing companies.

The ranking comprises ten companies from each of five key industry sectors. Novoheart is one of the ten best performers within the Clean Technology and Life Sciences sector. 

Ranking was based on three equally weighted criteria:

1. Share price: one-year share price change as of December 31, 2019

2. Trading: one-year trading volume as of December 31, 2019

3. Market capitalization: one-year market capitalization change as of December 31, 2019

“Since listing on the TSX Venture Exchange, the Novoheart team has been diligently implementing and executing our comprehensive business strategy spawned out of our revolutionary technologies,” said Novoheart co-founder & CEO, Prof. Ronald Li. “We’re very pleased that the significant strides we’re making as a result of these efforts are translating into strong investor confidence.  With several new and innovative ventures pioneered by our business and scientific teams over the last few years now coming to maturity, we feel that this confidence will grow even stronger in both the short and long terms.”

Novoheart’s proprietary, human-specific engineered heart models offer a powerful platform for facilitating and optimizing the discovery and development of novel drugs and therapeutics by enabling their testing for safety and efficacy in the context of the human hearts but without directly involving the individual patients.

“Our innovative technology platform aims to save time and cost, and importantly, improve notoriously poor success rates in new drug discovery, thereby leading to more viable drugs and therapeutics for the benefit of patients,” said Novoheart co-founder & CSO, Prof. Kevin Costa.

During the past four months, Novoheart has announced an exclusive licensing agreement with Harvard University to co-develop a next-generation ‘Human Heart-in-a-jar’, the awarding of the latest in a series of research and development grants from the Innovation and Technology Fund, a contract to codevelop a first of its kind Human Heart-in-a-Jar model of heart failure with AstraZeneca, and a long term revenue-generating contract with another global pharma to develop a novel microplate for high-throughput drug screening using engineered human heart tissue strips.