BOCA RATON, FL -- (Marketwire) -- 07/21/09 -- Vicor Technologies, Inc. (OTCBB: VCRT) today
announced the sale of $1.505 million principal amount, 8% convertible notes
due in 2011. Vicor is a biotechnology company focused on the
commercialization of innovative, non-invasive medical devices and
diagnostics using its patented, proprietary PD2i algorithm and software to
stratify patients at risk of sudden cardiac death and trauma victims in
need of life saving intervention.
Together with the earlier sale of $740,000 principal amount, 8% convertible
notes (announced 5/7/09), Vicor has this year sold an aggregate total of
$2,245,000 principal amount, 8% convertible notes due in 2011.
"We are pleased to have secured this significant additional financing,
especially given the continuing turbulence in the U.S. market," stated
David H. Fater, CEO. "We are gratified by our investors' confidence in the
promise of Vicor's proprietary PD2i algorithm to become a new vital sign
for diagnosing the treatment needs of significant at-risk populations," he
continued. "We believe that with the completion of the sale of the 8%
notes, we should have sufficient capital to execute on the remainder of our
2009 strategic plan, advance commercialization of our first three PD2i
diagnostic products, and begin generating revenues," Mr. Fater concluded.
About Vicor Technologies, Inc.
Vicor Technologies is a development-stage biotechnology company creating
innovative non-invasive diagnostics employing its patented, proprietary
point correlation dimension algorithm (PD2i.) The PD2i is a deterministic,
non-linear measure that analyzes electrophysiological potentials to predict
future pathological events with a high degree of accuracy in target
populations.
Vicor currently has three products employing the PD2i algorithm. The PD2i
Analyzer, which has FDA 510(k) marketing clearance, measures heart rate
variability and will be commencing a clinical trial to determine its
efficacy to detect the presence of diabetic autonomic neuropathy (DAN). The
PD2i VS (Vital Sign), in clinical trials under a collaborative effort with
the U.S. Army Institute for Surgical Research
(http://www.usaisr.amedd.army.mil/), risk stratifies combat and civilian
trauma victims. The PD2i CA (Cardiac Analyzer), in multiple clinical
trials, identifies patients at risk of suffering sudden cardiac death.
Vicor anticipates additional applications employing the PD2i to enable
early detection and risk stratification for a variety of other disorders
and diseases. Additional information is available at www.vicortech.com.
The appearance of name-brand institutions or products in this media release
does not constitute endorsement by the U.S.
