Cardio Diagnostics Holdings Inc Announces Expansion of IP Portfolio with Notice of Allowance of Patent Application

Rhea-AI Summary

Cardio Diagnostics Holdings Inc (Nasdaq: CDIO) announced a significant development as China's Patent Office issued a Notice of Allowance for their patent application titled 'Compositions and Methods for Detecting Predisposition to Cardiovascular Disease.' This patent is exclusively licensed from the University of Iowa Research Foundation and was co-invented by the company's founders. The Notice signifies that the invention meets the patentability requirements, with the patent already granted in the U.S. and Europe. CEO Meesha Dogan expressed excitement over this milestone, highlighting the company's commitment to enhancing healthcare outcomes through a strong intellectual property portfolio.

Positive

• Notice of Allowance granted by China's Patent Office for a key patent.
• The patent has already been issued in the U.S. and Europe, expanding global IP protection.
• Demonstrates the company's commitment to improving healthcare outcomes and solidifying its IP position.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Cardio Diagnostics Holdings Inc (Nasdaq: CDIO), an artificial intelligence-powered precision cardiovascular medicine company, today announced that China’s Patent Office has issued a Notice of Allowance to the University of Iowa Research Foundation (“UIRF”) for Chinese Patent Application No. 201780049286.4, titled “Compositions and Methods for Detecting Predisposition to Cardiovascular Disease.”

The patent is exclusively licensed to the Company from UIRF and was co-invented by Cardio Diagnostics’ founders, Meesha Dogan, Ph.D., and Robert Philibert, MD, Ph.D., the Chief Executive Officer and Chief Medical Officer of the Company, respectively. A Notice of Allowance means that the Chinese Patent Office has determined that the invention meets the requirements for patentability. After paying the required fees, the Chinese patent will be issued. Patents have already been granted to the same family of intellectual property claims in the United States and Europe.

“We are excited to receive the Notice of Allowance in China as it represents a significant step toward our goal to continue to expand and strengthen our IP position," said CEO Meesha Dogan, Ph.D. “As a precision medicine company building solutions that are backed by a robust and growing IP portfolio, we are committed to improving healthcare outcomes globally.”

"At the UIRF, we are dedicated to supporting innovation that has the potential to transform healthcare and save lives globally," said Marie Kerbeshian Ph.D., executive director of the UIRF. "Cardio Diagnostics is a shining example of the groundbreaking work happening here at the University of Iowa and its global impact. We are thrilled to be a part of their journey. We believe that their innovative solutions driven by Artificial Intelligence for the prevention and early detection of heart disease will have a profound impact on patient outcomes, and we look forward to seeing their continued success in America and beyond."

About Cardio Diagnostics

Cardio Diagnostics is an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention and early detection more accessible, personalized, and precise. The Company was formed to further develop and commercialize clinical tests by leveraging a proprietary Artificial Intelligence (AI)-driven Integrated Genetic-Epigenetic Engine (“Core Technology”) for cardiovascular disease to become one of the leading medical technology companies for enabling improved prevention, early detection, and assists in the treatment of cardiovascular disease. For more information, please visit www.cardiodiagnosticsinc.com.

About the University of Iowa Research Foundation:

The University of Iowa Research Foundation is part of the University of Iowa Office of the Vice President for Research, which provides researchers and scholars with resources, guidance, and inspiration to secure funding, collaborate, innovate, and forge frontiers of discovery that benefit everyone. More at http://research.uiowa.edu, and on Twitter: @UIowaResearch.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "should," "believe," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements include, without limitation, the Company’s expectations with respect to future performance, development and commercialization of products and services, the potential benefits and impact of the Company’s products and services, potential regulatory approvals, and the size and potential growth of current or future markets for the Company’s products and services. Forward-looking statements are statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results. These statements are based on various assumptions, whether or not identified in this press release, and are not intended to serve as, and they must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Factors that may cause such differences include, but are not limited to: the success, cost and timing of the Company’s product development and commercialization activities, including the degree that Epi+Gen CHD™ and PrecisionCHD™ tests are accepted and adopted by patients, healthcare professionals and participants in other key channels; the impact of COVID-19 on the Company’s business; economic conditions, dependence on management, dilution to stockholders, lack of capital, changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to execute our growth strategy and ability to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Company’s ability to compete, regulatory matters, protection of technology, lack of industry standards, the effects of competition and the ability of the Company to obtain future financing. Such factors could materially adversely affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed within this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230302005491/en/

Investors:

Gene Mannheimer

Investor Relations

855-226-9991

investors@cardiodiagnosticsinc.com



Media & Public Relations:

Khullani Abdullahi

pr@cardiodiagnosticsinc.com

Source: Cardio Diagnostics Holdings Inc

FAQ

What is the significance of the Notice of Allowance issued to Cardio Diagnostics (CDIO)?

The Notice of Allowance indicates that Cardio Diagnostics’ patent application for detecting predisposition to cardiovascular disease has met patentability requirements in China, enhancing its intellectual property portfolio.

Has Cardio Diagnostics (CDIO) received any patents in other regions?

Yes, the patent for the same technology has already been granted in both the United States and Europe.

Who co-invented the technology behind Cardio Diagnostics’ patent?

The technology was co-invented by Meesha Dogan, Ph.D., and Robert Philibert, MD, Ph.D., who are the company's CEO and Chief Medical Officer, respectively.

What does the patent from the University of Iowa Research Foundation allow Cardio Diagnostics (CDIO) to do?

The patent allows Cardio Diagnostics to utilize compositions and methods for detecting predisposition to cardiovascular disease, enhancing their AI-driven precision medicine offerings.