Mr. Ronald Li reports

NOVOHEART STRENGTHENS NORTH AMERICAN PRESENCE OPENING NEW R&D LOCATION AT THE WORLD-CLASS COVE FACILITY, UC IRVINE, CALIFORNIA

Novoheart Holdings Inc. has opened a new United States location in The Cove at the University of California, Irvine. The Cove is home to UCI Applied Innovation -- a public-private endeavour to accelerate the commercialization of technology and other world-class discoveries at UCI -- as well as a number of renowned venture capital firms, entrepreneurs and fast-growth technology organizations. It features 46,000 square feet of state-of-the-art technological facilities and collaborative office space and offers Novoheart direct access to a number of strategic partners as well as to unique and innovative technologies and talent at the forefront of drug discovery.

Novoheart's established presence in California marks a critical milestone in the company's early steps toward engaging the expansive North American market and supports its mission of positioning itself as a key player in the transformation of drug discovery.

A recently published study by members of the Novoheart team, completed in partnership with the UC Irvine team (Shum et al., Advanced Materials, 2017), clearly demonstrated the value of being in close proximity to like-minded scientists. Using the company's proprietary MyHeart platform of engineered human cardiac tissues, researchers were, for the first time, able to detect the devastating arrhythmogenic hazards of certain anti-arrhythmic drugs that had previously caused fatalities in human patients despite passing through the flawed process of animal testing for Food and Drug Administration approval. By using the MyHeart platform, which offers the unique ability to replicate patient responses, the company was able to further validate its product's highly significant potential for early identification of cardiac side effects prior to moving towards clinical trials.

"We are very excited to further expand our presence in North America and believe that working in The Cove provides an ideal environment to advance both our product and business development," said Ronald Li, chief executive officer of Novoheart. "The type of collaborative research between ours and UCI's team clearly demonstrates the significant value of being in a state-of-the-art facility with other leading specialists. Having this type of validated research is incredibly important as we pursue our large-scale commercialization strategy and we believe that key, long-term, partnerships like those being established here will be a strong driver of our future success."

About Novoheart Holdings Inc.

Novoheart is a global stem cell biotechnology company pioneering an array of next-generation human heart tissue prototypes. It is the first company in the world to have engineered miniature living human heart pumps that can revolutionize drug discovery, helping to save time and money for developing new therapeutics. Also known as 3-D hearts in a jar, Novoheart's bioartificial human heart constructs are created using state-of-the-art stem cell and bioengineering approaches, and are utilized by major drug developers for accurate pre-clinical testing as to the effectiveness and safety of new drugs, maximizing the successes in drug discovery and minimizing costs and harm caused to patients.

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