Former Amex Healthcare CFO Accepts Board and Management Position at Endovasc.
MONTGOMERY, Texas--(BUSINESS WIRE)--Oct. 29, 2002
Endovasc Ltd. Inc. (OTCBB:ENVC) - a biotechnology company with two cardiovascular drugs approved for final FDA Phase III human trials - announced today that the former Chief Financial Officer for the Amex-listed Surgicare Inc. (AMEX:SRG), Robert J. Horn, has joined the company as a new managing director-finances who will represent the company's funding efforts and AMEX listing application.
Mr. Horn has assumed the immediate responsibility for the oversight of Endovasc's American Stock Exchange application. He will assist the company in dealing with the public markets, where he will be able to draw upon his 30+ years of senior management and financial expertise gained through working within the banking industry and as an executive and consultant to both public and private companies.
In addition, Mr. Horn will work on coordinating the structures and pricing for future spin-offs as well as Phase III human trials budgeting.
Prior to joining Endovasc, Mr. Horn has served as the chief financial officer for Amex-listed Surgicare. He also recently served as CFO for ebaseOne Corporation, helping it to raise significant venture capital, building the technology company's market cap to over $200 million.
Mr. Horn has spent most of his career as a commercial banker at the executive level, most notably as the long time president & CEO of First City Bank in Houston. He is widely considered to be one of the foremost authorities on electronic cash management systems.
"Bob Horn is a very well known Houstonian and highly respected within the financial community both locally and nationally," says Dr. David P. Summers, chief executive officer of Endovasc. "We are excited to have him as a member of our team. His many years of banking experience, coupled with his biotech experience, his understanding of public markets and the ability to raise capital will be invaluable for us. He will be a real asset to Endovasc as we move through the Phase III trials with two major cardiovascular drugs, Liprostin(TM) and ANGIOGENIX(TM)."
Mr. Horn received a BA in business administration from Arizona State University. He received post-graduate money and banking training from BAI. He has also been certified to execute NAFTA transactions by the Export-Import Bank.
Endovasc's products include Angiogenix(TM), the revolutionary new treatment that has shown to recruit the body's own stem cells that help grow new heart vessels to relieve chest pain and improve heart function; Liprostin(TM), a liposomal prostaglandin-based treatment that studies suggest will prevent restenosis (re-blockage of arteries), increase circulation, and reduce leg pain due to poor blood flow; biodegradable stents; drug-delivery stents; and newly discovered nutraceutical applications that may accelerate therapeutic development of muscle mass and prostaglandin balancers to treat obesity in overweight diabetic women. Endovasc believes that its nutraceutical stem-cell recruiters combined with high protein complexes and its prostaglandin precursors for conversion of PGE-1 in the body could become blockbuster nonprescription products, producing positive cash flow even sooner than its later stage drugs because they are not subject to the FDA approval process.
Endovasc Ltd. Inc., established in 1996, is a biotechnology company focused in the area of cardiovascular disease, pioneering drug delivery technology designed to deliver and release drugs to their intended targets in an efficient and controlled manner. The company's pipeline of products and processes include: Liprostin(TM), ANGIOGENIX(TM), PROStent(TM) stent-coating technology, and a biodegradable stent prosthesis.
The foregoing statements are made under the "Safe Harbor" Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements that involve risks and uncertainties that may not be evident at the time of this release. For more information about Endovasc, please visit www.endovasc.com (Investor questions and requests for materials can be submitted at InvestorRelations@endovasc.com.)
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|Date:||Oct 29, 2002|
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