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news.US-based biotechnology company Bioheart has elected Karl Groth, a co-founder of the Ascent Medical Technology Fund, to its board of directors. The company has also appointed Peggy Farley as chairman of the audit committee.
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Dr Groth is also president and CEO of Ascent Private Equity, the general partner of the funds, which are focused on investments in medical device, life science and biotechnology. Dr Groth received his BS from the State University of New York in Biology, his MS from New York University and his PhD from the University of Minnesota.
Ms Farley is a co-founder of the Ascent Medical Technology Funds, venture capital funds that have achieved record returns for their investors.
Howard Leonhardt, chairman and CEO of Bioheart, said: “Dr Groth will be a valuable asset to Bioheart as we move forward to complete our clinical trials and move forward with our transition into becoming a commercial company.”