Heart Genomics Receives Loan Funding from Institute for Commercialization of Public Research

GAINESVILLE & BOCA RATON, Fla.--(BUSINESS WIRE)--The Institute for the Commercialization of Public Research announced today that it has finalized a funding agreement with Heart Genomics, LLC, an early-stage biotechnology company focused on providing non-invasive, genomic-based, clinical diagnostic tests for patients with heart failure. The Institute works with Florida’s research universities and institutions to support new company creation and job growth, and the program bridges funding gaps, enabling recipients to reach critical milestones and attract additional private investment capital.

“Heart Genomics, with its genomics-based cardiovascular diagnostics, exemplifies the great work being done right here in Florida”

Heart Genomics is at the forefront of the burgeoning molecular diagnostics market. The new diagnostic tests will provide personalized and individualized information to each patient and their physician through the genomic analysis of the patient's heart tissue or blood sample, and with this information, the heart patient and physician can make substantially improved and clear treatment decisions.

“This initial round of funding matched by the Institute for the Commercialization of Public Research will allow us to bring brand new diagnostic tools to doctors treating patients with congestive heart failure. The Heart Genomics tests will allow doctors to improve dramatically their ability to establish cause for heart failure and to allocate advanced therapies,” said Joshua Hare, M.D., Scientific Founder of Heart Genomics.

“Heart Genomics, with its genomics-based cardiovascular diagnostics, exemplifies the great work being done right here in Florida,” said Jamie Grooms, Institute Chief Executive Officer. The company’s tests, which are based on technology developed at the University of Miami’s Interdisciplinary Stem Cell Institute, headed by Dr. Hare, have a potential of bringing great advancements in the field of personalized medicine.

About the Institute

Founded in 2007 as a non-profit organization, the Institute is Florida’s One-Stop-Shop for investors and entrepreneurs who seek to identify new opportunities based on technologies developed through publicly-funded research. The Institute delivers programs that facilitate new venture and job creation through commercially-viable technologies in major industries that are driving the global economy. The Institute also administers the Florida Research Commercialization Matching Grant Program launched in 2010, and the Seed Capital Accelerator Program launched in 2011. For more information, visit www.florida-institute.com.

About Heart Genomics, LLC

Heart Genomics, LLC is a biotechnology company focused on the commercialization and continued development of non-invasive, genomic-based, clinical diagnostic tests for patients with heart failure. The management of patients with heart disease remains hampered by a lack of accurate biomarkers to assist doctors in assessing patient prognosis and in applying personalized medicine. Harnessing technologies derived from the Human Genome Project and HeartGen’s proprietary gene signatures, and using technology created by HeartGen’s scientific founder, HeartGen has created novel biomarkers and developed two different “expression profiling” Diagnostic Tests (“HeartGen5YP” and HeartGenMYO), which measure panels of genes or “gene signatures,” and provide a highly accurate assessment of diagnosis and prognosis of patients with heart failure. The HeartGen tests employ state of the art human gene expression profiles (proprietary Molecular Signature Analysis, or MSA) for the diagnosis and clinical management of patients with heart failure. For more information, visit www.heartgenomics.com.