Novita Therapeutics ("Novita") announced today that the Kansas Bioscience Authority ("KBA") has awarded Novita a $72,578 grant to complete design work on an implantable cardiovascular device under development at Novita.

"Financing for early stage product development is critical for the commercial success of start-up bioscience companies," said Nicholas Franano, M.D., founder and CEO of Novita.

"We chose to locate Novita in Kansas knowing that the Kansas Bioscience Authority could help in this way." The design work for the new device will be completed in approximately 12 weeks. Upon design completion, Novita will begin the production of physical prototypes for non-clinical testing.

Kansas Bioscience Authority president Tom Thornton lauded the company's scientific innovation and entrepreneurial spirit. "Novita is on the cutting edge of its field, and its technological advances are very exciting," Thornton said. "We are pleased not only to invest in its success, but to roll up our sleeves and help the company get its first product to market and create jobs in the state of Kansas."

About Novita Therapeutics
Novita Therapeutics, LLC is a privately held biopharmaceutical and medical device company headquartered in Lenxa, Kansas. For additional information, please visit www.novitatherapeutics.com.

COMPANY CONTACT:
F. Nicholas Franano, M.D.
President & CEO
913-440-4439
nfranano@novitatherapeutics.com

PRESS CONTACT:
Michael Kanaley
816-994-9644
michael.kanaley@global-prairie.com