Novoheart Beats Faster on R&D Pact with Major Partner

With advances in safeguarding human health reported every day, it`s gratifying to know that one of the prime movers in this innovation is close to home.

Vancouver-based Novoheart (TSX-Venture:NVH) is a global stem cell biotechnology company. Tuesday, the company revealed the completion of a research and development contract sponsored by a top-10 global pharma.

NVH 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).

The MyHeart Platform includes its ‘human heart-in-a-jar’ technology, and provides engineered human cardiac tissue models for testing the efficacy and safety of drugs to predict human responses with more accuracy.

The microplate market is estimated at $980 million.

On the markets, NVH shares rallied five cents, or 8.1%, Tuesday to 67 cents, on impressive volume of 130,000