United States, California, Newport Beach, June 02, 2021 (GLOBE NEWSWIRE) — —
Leonhardt Ventures LLC and it’s innovation accelerator subsidiary Leonhardt’s Launchpads by Cal-X Stars Business Accelerator, Inc. today announced that they are actively seeking buyers for all of it’s MyoStim ED ErectiStim TM erectile dysfunction treatment assets – www.erectistim.com.
The business model of the company is to seek a strategic partner/acquirer to acquire organ and purpose specific assets emanating from it’s core IP estate after clinical results demonstrate the invention works for intended applications of use, in this case treatment of erectile dysfunction. This product has reached this stage of development and is deemed ready ripe for exit.
The assets include multiple issued and pending patent claims and data from more than 105 clinical patients as well as software programs, supply agreements, pre-clinical support data, regulatory documentation, trademarks and more. The unique multi-modality technology platform is based on bioelectric signaling controlled regenerative protein expressions designed to (1) grow permanent new mature blood vessels, (2) improve circulation to the organ, (3) to regenerate damaged muscle and (4) nerves as well as (4) improve communication lines between the brain and organ.
Clinical studies with over 105 patients participating demonstrated that approximately 90% of treated patients had satisfactory lasting results compared to under 10% for placebo patients.
The bioelectric stimulator and electrodes used already have FDA 510K market clearance for improving blood circulation and the product can be marketed immediately by the party that acquires the assets under this indication of use. The company has also prepared documentation to be ready to file with the FDA for expanding labelling. MyoStim ED has a deep pipeline of successive next generation of products in development that will be offered in the sale including a patented product that combines bioelectrics and biologics for the most severe ED cases.
The erectile dysfunction treatment market is estimated to exceed $6 billion annually. The last major innovation breakthrough in the ED treatment field Viagra in 1998 was the fastest product to $1 billion in sales in history.
The acquirer will receive exclusive rights to all current held Leonhardt patents as they may apply to the treatment of erectile dysfunction – https://patents.justia.com/inventor/howard-j-leonhardt
About Leonhardt Ventures LLC: Founded in 1982 Leonhardt Ventures www.leonhardtventures.com (formerly HJ Leonhardt & Co.) has led of the development of the PolyCath line of cardiovascular balloon catheters in the 1980’s, TALENT stent graft, StentValve, RadiCath, PENSIL and ProCell stem cell delivery catheters in the 1990s, MyoCell and MyoCath in the 2000’s and since 2008 has focused on accelerating applications of core IP in bioelectrics, endovascular systems and biologics into expanded applications of use. Leonhardt Ventures LLC directly or indirectly controls approximately 70% of the voting rights of the MyoStim ED ErectiStim TM assets. Over 500,000 patients have been treated with Leonhardt inventions to date.
About Leonhardt’s Launchpads by Cal-X Stars Business Accelerator, Inc.: Leonhardt’s Launchpads was founded in Santa Rosa, CA in 2008 as a life sciences startup incubator 100% owned by Leonhardt Ventures LLC. Cal-X Stars Business Accelerator, Inc. www.calxstars.com was formed in 2013 as an innovation and startup launch accelerator arm of Leonhardt Ventures LLC focused on life science and social good impact innovations originally 100% owned by Leonhardt Ventures LLC. Approximately a 10% ownership interest has been sold to outside investors and additional share options have been granted to mentors, advisors, employees, suppliers and other value providers. The two merged in late 2015. In 2018 the social good impact portfolio was spun out to a separate accelerator Cal-Impact www.cal-impact.com in order for Leonhardt’s Launchpads to focus exclusively on leveraging the acceleration of Leonhardt Ventures LLC organ and purpose specific innovations based on their core IP in bioeletrics, endovascular systems and biologics. Innovation assets are developed in 5 groups https://leonhardtventures.com/development-pipeline/ (1) Heart & Cardiovascular, (2) Brain, (3) Cosmetic & Personal Care, (4) Major Organ Regeneration and (5) Cancer. Leonhardt’s Launchpads receives a 9% anti-dilution equity position (unless waived in writing) in each innovation asset or venture creation of Leonhardt Ventures LLC it helps accelerate via mentoring or other forms of support and has pre-emptive right to purchase up to 20% equity position in each innovation asset via cash investment at market prices or via fair value exchange for services rendered right up to exit or graduation from the accelerator. Outside inventions or startups are sometimes brought into the Leonhardt’s Laucnhapds accelerator by merging them into an existing Leonhardt Ventures LLC innovation asset or startup.
About MyoStim ED: MyoStim ED and its products ErectiStim TM and Erectistim Plus Biologics are the creation of Leonhardt Ventures LLC and have been accelerated in the Leonhardt’s Launchpads innovation accelerator since 2015.
Safe Harbor – This press release includes forward-looking statements, including statements concerning anticipated future profitability, estimated cost reductions, estimated restructuring charges, the successful completion of our plan to divest the Company’s ED assets. Factors that could cause actual results to differ materially from these forward-looking statements include availability of media time and fluctuating advertising rates, its ability to successfully transfer products to alternative manufacturing facilities, manufacturing quality issues resulting in increased warranty costs, its ability to effectively restructure the business and reduce costs, a decline in consumer spending due to unfavorable economic conditions, a change in the availability of credit for its customers who finance their purchases, its ability to effectively develop, market, and sell future products, its ability to get foreign-sourced product through customs in a timely manner, its ability to effectively identify, negotiate and integrate any future strategic transactions, its ability to protect its intellectual property, introduction of lower-priced competing products, unpredictable events and circumstances relating to international operations including its use of foreign manufacturers, government regulatory action, and general economic conditions. Please refer to our Private Placement Memorandum and Annual Report for additional risk warnings We also caution you not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.
SOURCE: Leonhardt Ventures LLC, Newport Beach, CA