BIOHEART GETS $2.8 MILLION IN PROCEEDS FROM PIPE FINANCING.

Bioheart, Inc. (OTC Bulletin Board: BHRT), Sunrise, Fla., has announced that commencing on October 1, 2008, and through July 7, 2009, Bioheart, Inc. (the "company") has received proceeds in the amount of $2,855,830 from the placement of restricted common stock and warrants under its current offering under Regulation D (the "Offering"). The maximum number of shares of Common Stock to be issued in connection with the Offering (including common stock underlying the warrants) is 3,737,500 shares, of which 559,351 shares are remaining. The term of the Offering recently was extended through October 2009.

The company's securities counsel, Sichenzia Ross Friedman Ference LLP, has advised the company in connection with the Offering, which consists of units comprised of ten shares of common stock, at a per share price that represents a 10% discount to the average of the closing prices for the company's common stock for the five trading days preceding each subscription date, as quoted on the OTCBB, together with 30% warrant coverage with an exercise price that is 120% of the per share price for the common stock comprising the unit.

About Bioheart, Inc.

Bioheart, Inc. (OTC:BHRT) (BULLETIN BOARD: BHRT) is committed to delivering intelligent devices and biologics that help monitor, diagnose and treat heart failure and cardiovascular diseases. Its goals are to improve a patient's quality of life and reduce health care costs and hospitalizations. Specific to biotechnology, the company is focused on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of chronic and acute heart damage. Its lead product candidate, MyoCell(R), is an innovative clinical muscle-derived stem cell therapy designed to populate regions of scar tissue within a patient's heart with new living cells for the purpose of improving cardiac function in chronic heart failure patients. The company's pipeline includes multiple product candidates for the treatment of heart damage, including Bioheart Acute Cell Therapy, an autologous, adipose tissue-derived stem cell treatment for acute heart damage, and MyoCell(R) SDF-1, a therapy utilizing autologous cells that are genetically modified to express additional potentially therapeutic growth proteins.

For more information, visit http://www.bioheartinc.com.

Print Get the Mag Weekly Updates