Hancock Jaffe Laboratories Receives Ethics Committee Approval for First-in-Human VenoValve Study

Irvine, California, UNITED STATES

IRVINE, Calif., July 24, 2018 (GLOBE NEWSWIRE) -- Hancock Jaffe Laboratories, Inc. (Nasdaq:HJLI) (Nasdaq:HJLIW), a company specializing in bioprosthetic medical devices to establish improved standards of care for treating cardiac and vascular diseases, today announced that it has received approval from the Ethics Committee at Fundación Santa Fe de Bogotá (“FSFB”), in Bogota Colombia, for the first-in-human testing of its VenoValve® bioprosthetic medical device. Hancock Jaffe Laboratories, Inc. (HJLI) is also waiting for approval from FSFB’s Medical Research Committee. 

Hancock Jaffe is developing the VenoValve to treat severe cases of Chronic Venous Insufficiency (“CVI”). CVI occurs when the valves within the deep venous system of the leg are injured or destroyed, causing blood to pool in the lower extremities. CVI may result in swelling, debilitating pain, and skin ulcerations. Practitioners rate the severity of CVI based upon a system called Clinical-Etiology-Anatomy-Pathophysiology (“CEAP”), a rating system of C0 to C6, with C4, C5, and C6 being the most severe cases.  Approximately 4.5 million people in the U.S. suffer from severe CVI and the condition results from between 400,000 to 700,000 hospitalizations per year. There are currently no FDA approved treatments for deep venous CVI.

About Hancock Jaffe Laboratories, Inc.

The company specializes in developing and manufacturing bioprosthetic medical devices to establish improved standards of care for treating cardiac and vascular diseases. HJLI currently has three product candidates: the porcine tissue based VenoValve®, which is intended to be surgically implanted in the deep venous system of the leg to treat Chronic Venue Insufficiency; the CoreoGraft®, a bovine tissue based off the shelf conduit intended to be used for coronary artery bypass surgery, and a porcine tissue based heart valve, which based upon its relatively small size and increased output, is an ideal candidate for pediatric aortic/mitral valve replacement.

Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect Hancock Jaffe Laboratories, Inc.’s current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Risk Factors" and other sections of our S-1 on file with the U.S. Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.

HJLI Press Contacts:

Amy Carmer
Tel: 949-261-2900
Email: acarmer@hancockjaffe.com

Jules Abraham
Tel: 917-885-7378
Email: julesa@coreir.com