CardioVascular BioTherapeutics, Inc. (PINK:CVBT) has broken out over the last trading session on volume 10 times higher than the average. The 25% appreciation over the day was achieved after Sanofi-Aventis (NYSE:SNY) drug for limb ischemia, failed in Phase III trial.
CardioVascular is researching a drug to treat peripheral artery disease and chances are it will be offered a partnership from SNY, which is now desperate to get the expensive research’s worth back.
CVBT has been developing the cure using fibroblast growth factor FGF-1 human protein as their active ingredient. The failed drug used a similar NV1FGF.
CVBT’s approach uses a protein therapy, while the failed tests were considered a gene therapy (it aims to replace genes in cell/tissue which then should produce the required proteins). Protein therapy is a more simple approach.[BANNER]
FGF itself is capable of initiating growth of new arteries and capillaries. It is perfect for treating limb ischemia, which is caused by obstruction of large arteries, inducing the formation of new blood vessels.
The Pink Sheets listed CardioVascular Bio Therapeutics is not very keen to communicate with investors. Their press releases are scarce, and the financial situation is unclear as they don’t file with the SEC. None the less the recent failure of a big pharmaceutical company opened new possibilities for CVBT, the only question is whether they are ready to use them.
