Allezoe Medical Holdings Announces Initial Funding, Condemns Unauthorized Marketing Program
March 31 2011 - 6:19PM
Marketwired
Allezoe Medical Holdings, Inc. (OTCBB: ALZM), a publicly traded
holding company in the medical device market, and sole shareholder
of Organ Transport Systems, Inc., today reported that it has
received an initial investment to continue preparing its Life
Cradle® technology for clinical trials. According to Michael
Holder, Chairman and CEO of Allezoe, "This initial investment will
allow us to further our clinical trial preparations and provides
bridge financing while we are negotiating a larger capital infusion
from institutional investors to support the trials."
Allezoe was recently created as a result of the acquisition of
Organ Transport Systems, Inc. by a small public company, Stanford
Management, Ltd., which also changed its name to Allezoe. That
acquisition closed on February 18, 2011, as reported in a Form 8-K
filed with the SEC on February 28, 2011. The current management of
the Company assumed their positions on February 18, 2011 as part of
the acquisition and previously had been a part of the OTS
management team and board of directors for over seven years.
Organ Transport Systems, Inc. was founded in 1999 and is focused
on the development and commercialization of its LifeCradle® organ
preservation technology. Mr. Holder also stated, "Organ Transport
has been in existence for nearly 12 years, has had more than $10
million invested in it over the years in the research and
development of the LifeCradle®, and is now working to raise
additional capital from private sources to fund the final FDA
clinical trials so we can bring the LifeCradle® to market. Over
those years, the greater OTS team has worked diligently to evolve
four generations of LifeCradle® heart preservation devices
resulting in our current LifeCradle® prototype, proprietary liquid
perfusion solutions and a strong intellectual property portfolio.
Through sponsored research with leading academic research centers
such as University of Texas Southwestern Medical Center, the
LifeCradle® has been tested in more than 225 animal heart
preservation experiments as well as over 15 discarded human heart
experiments, leading to peer reviewed and published articles in the
Journal of Transplantation and the Journal of Heart and Lung
Transplantation as well as presentations by the OTS research
collaborators at national and international meetings like the
International Society for Heart and Lung Transplantation
Conferences and the American Association of Thoracic Surgery. In
the pre-clinical experiments, researchers have concluded that the
LifeCradle® significantly extends the useful life of hearts and
provides a healthier heart after similar time periods of
preservation compared to the current standard of care of heart
preservation (i.e. static, cold storage in "a picnic cooler" on
ice). We have assembled a team of very distinguished transplant
surgeons from leading transplant centers and other highly-regarded
transplant industry specialists to be a part of our Clinical Trial
Steering Committee and Medical Advisory Board. We have also met
with and established favorable relations with over 25 of the
leading transplant centers in the U.S. and Europe, many of which we
plan to include in our FDA trial. In effect, OTS is the life work
and the passion of the OTS/Allezoe teams. We are extremely
committed and motivated to get the LifeCradle® heart and other
organ devices and perfusion solutions cleared by the FDA to not
only address a large market and business opportunity, but, more
importantly, to address the shortage of organs in transplantation
which is causing unnecessary human suffering and loss of life. The
OTS/Allezoe team is similarly excited about our plans to complete
future acquisitions of medical technology companies which have both
promising business opportunities and which can positively impact
humanity."
Allezoe has recently received information from a number of
sources regarding an apparent stock promotion program promoting its
common stock, that has been initiated and is being maintained by
unrelated parties without the involvement, knowledge, consent, or
participation of the Company. Part of the promotion appears to be
based on a written "advertisement" being distributed to potential
market investors which contains multiple outrageous and unfounded
claims and assertions regarding Allezoe Medical Holdings and its
subsidiary, Organ Transport Services, Inc. The advertisement also
claims that all of the statements made regarding Allezoe have been
"approved for public dissemination" by Solstice Capital, Inc., and
that Solstice Capital, Inc. paid for the advertisement "to provide
public awareness for ALZM".
For the record, neither Allezoe nor Organ Transport Systems, or
any officer, director, employee or agent of either, has authorized,
paid for, or approved this advertisement, has never had any contact
or dealings of any kind, directly or indirectly, with Solstice
Capital, Inc. or anyone involved with the preparation or
distribution of this advertisement, and expressly repudiates the
advertisement in its entirety. Investors, shareholders and the
investing public are cautioned about purchasing stock in Allezoe
Medical Holdings based on this advertisement or any related sales
efforts by unrelated third parties. The Company itself is not
currently offering or selling any common stock publicly and has not
authorized or paid for any person or entity to act on its behalf in
connection with any sales or promotional efforts related to its
common stock. Any information regarding the Company which is
authorized and approved for public distribution will be issued by
the Company itself as a press release or public filing with the
SEC.
Michael Holder, President and CEO of Allezoe Medical Holdings,
stated: "It is unfortunate that both the investing public and a
small public company such as Allezoe have become targets of what
appears to be a promotional stock scheme based on
misrepresentations and exaggerations about the Company. We have
already had contact with regulatory authorities regarding this
matter and have advised that the Company is not part of the
promotion, did not authorize it, did not pay for it, did not
approve any promotional materials, and believes the advertisement
is materially false and misleading. We have also confirmed that, to
the Company's knowledge, no officer, director, employee, or
consultant of the Company has offered or sold any of its or their
shares in this promotion. In any case, none of the shares issued
recently as part of the acquisition of OTS by Allezoe are free
trading and will not be able to trade for many months."
FORWARD LOOKING STATEMENT
This announcement is not an offer to sell any Allezoe ("ALZM")
related securities. Offers for any given security are made only
through applicable offering circulars and related documents filed
with the SEC pursuant to the Securities Act of 1933 or the
Securities Exchange Act of 1934. Certain statements contained
herein and subsequent oral statements made by and on behalf of ALZM
may contain "forward looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward
looking statements are identified by words such as "intends",
"anticipates", "believes", "expects", and "hopes" and includes,
without limitation, statements regarding ALZM's plan of business
operations, product research and development activities,
anticipated revenues and expenses and potential contractual
arrangements and obligations. Also, our management may make
forward-looking statements orally to investors, analysts, the media
and others. Forward-looking statements express our expectations or
predictions of future events or results. They are not guarantees
and are subject to many risks and uncertainties. There are a number
of factors beyond our control that could cause actual events or
results to be significantly different from those described in the
forward-looking statements. Any or all of our forward-looking
statements in this report or in any other public statements we make
may turn out to be wrong. We undertake no obligation to publicly
update or review any forward-looking statements, whether as a
result of new information, future developments or otherwise.
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Contacts: Allezoe Medical Holdings, Inc. Media Department
214-290-8031 media@allezoe.com