NEW YORK, March 4, 2005 (PRIMEZONE) -- Inncardio, Inc. (OTCBB:INDO), a biotechnology company focused on the development of treatments and therapies targeted at cardiovascular-related diseases, today announced that it has been approved to trade on the OTC Bulletin Board(R) (OTCBB) under the ticker symbol "INDO."
"Inncardio continues to seek additional early stage development products to expand its portfolio of cardiovascular product candidates," commented Bernard Ross, Chief Executive Officer of Inncardio. "The commencement of the company trading on the OTCBB serves as an entry into the public markets and the additional financial opportunities therein."
About Inncardio, Inc.
Inncardio, Inc., a subsidiary of Bioaccelerate Holdings Inc. (OTCBB:BACL), is a biotechnology company engaged in the acquisition, development and commercialization of treatments and therapies targeted at various cardiovascular diseases. The Company's management team is focused on both the ongoing development of Inncardio's products to build value prior to partnering and the in-licensing of additional cardiovascular products to further enhance the Company's commercial value. The Company currently has six compounds in its portfolio. Three of the compounds are currently undergoing clinical investigation, and three are in pre-clinical studies. Inncardio's lead clinical development product is being investigated for use as a post-stroke therapy that has a novel delivery profile and is targeted to reduce the incidence and severity of ischemic deficits in patients with subarachnoid hemorrhage from rupture intracranial berry aneurysm.
About Bioaccelerate Inc.
Bioaccelerate Holdings Inc. (OTCBB:BACL) is a pharmaceutical development organization ("PDO") that seeks to acquire, develop and commercialize novel pharmaceutical compounds in an efficient, cost-effective way. Bioaccelerate uses its broad network of academic, industry and capital market relationships to expedite drug development and raise capital to create and fund its subsidiary companies, which are organized by vertical portfolios in five therapeutic areas: oncology, specialty pharmaceuticals, central nervous system disorders (CNS), cardiovascular disease and anti-infectives.
Bioaccelerate conducts its business directly and through its subsidiaries. The company holds majority equity interests in 10 biopharmaceutical companies, three of which are public, and holds minority interests in four biopharmaceutical companies, two of which are public. The company also holds a minority equity interest in a public nanotechnology company. Bioaccelerate's strategy relies on its development network for research, clinical development and project management to guide early-stage compounds from the discovery process through to Phase II/III development where incremental value can be created. Bioaccelerate Holdings is listed on the Over-The-Counter Bulletin Board under the symbol "BACL.OB." For more information on Bioaccelerate, visit the company's website at http://www.bioaccelerate.com .
Safe Harbor
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because these statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Specifically, factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: risks associated with pre-clinical and clinical developments in the biopharmaceutical industry in general and in Inncardio or Bioaccelerate's compounds under development in particular; the potential failure of Inncardio or Bioaccelerate's compounds under development to prove safe and effective for treatment of disease; uncertainties inherent in the early stage of Inncardio or Bioaccelerate's compounds under development; failure to successfully implement or complete clinical trials; failure to receive marketing clearance from regulatory agencies for our compounds under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Inncardio or Bioaccelerate's business, structure or projections; the development of competing products; uncertainties related to Inncardio or Bioaccelerate's dependence on third parties and partners; and those risks described in the filings with the SEC, all of which are under Bioaccelerate's prior name Mobile Design Concepts, Inc. and Inncardio's prior name Softwall Equipment Corp. Inncardio and Bioaccelerate disclaim any obligation to update these forward-looking statements.