HJLI Hancock Jaffe Laboratories Inc

Hancock Jaffe Laboratories, Inc. (Nasdaq: HJLI, HJLIW), a Company specializing in medical devices that restore cardiac and vascular health, today announced the successful start of its VenoValve® first-in-human study in Bogota, Colombia. The first VenoValve was implanted in a patient and the procedure went very well. The patient was walking the day after the surgery, the VenoValve appears to be functioning as it should, and the patient shows no early signs of thrombosis, reflux, or other adverse events.

Robert Berman, Hancock Jaffe’s Chief Executive Officer stated, “We are so excited to get our VenoValve study underway and are thrilled that the first patient is doing so well. We will continue to monitor the patient for the next few weeks and then proceed with additional VenoValve implantations.”

HJLI has enrolled additional patients for the VenoValve study and the company will provide a further update following the next implantations, which are currently scheduled to take place in March.  

The first-in-human Colombian study will initially include 5 to 10 patients who suffer from severe, deep venous chronic venous insufficiency (CVI), a condition that occurs when the valves in the veins of the venous system of the leg are injured or destroyed, causing blood to pool in the lower extremities, and resulting in increased venous pressure (venous hypertension). Severe CVI often includes swelling, intense pain, and skin ulcerations that become ongoing, open wounds.

Following implantations of the VenoValve, patients undergo duplex scans, which are used to measure reflux time - the duration of reflux in the deep venous system. The VenoValve was developed to reduce or eliminate deep venous reflux, a major cause of CVI. The reduction or elimination of reflux would lower venous hypertension, and result in greatly improved quality of lives for patients suffering from deep venous CVI.  In addition to measuring reflux, endpoints for the first-in-human VenoValve study include rVCSS measurements, VAS scores, and VEINES scores, three well known clinical assessments for venous disease and assessments of improvement in the patient’s quality of life and reduction in pain.

HJLI has had several Pre-FDA meetings to discuss the pre-clinical and clinical pathway for FDA approval for the VenoValve. Preclinical prototype testing, including in vivo animal studies, and in vitro hemodynamic studies, have demonstrated that the VenoValve mimics the function of a properly functioning native venous valve. Based upon feedback from the FDA, HJLI agreed to conduct a small first-in-human study in Colombia prior to the U.S. pivotal trial.  The first-in-human study will provide HJLI with valuable feedback to make any necessary product modifications or adjustments to the surgical implantation procedures for the VenoValve.

HJLI expects to release preliminary data on the first group of VenoValve recipients at the end of the second quarter of 2019, and will continue to follow the patients in Colombia for period of 6 months. Approximately 2.6 million patients in the U.S. suffer from CVI due to reflux in the deep venous system, and there are currently no FDA approved treatments for the condition.

About Hancock Jaffe Laboratories, Inc.

HJLI specializes in developing and manufacturing bioprosthetic (tissue based) medical devices to establish improved standards of care for treating cardiac and vascular diseases. HJLI currently has two lead product candidates: the VenoValve®, a porcine based valve which is intended to be surgically implanted in the deep venous system of the leg to treat reflux associated with Chronic Venous Insufficiency; and the CoreoGraft®, a bovine tissue based off the shelf conduit intended to be used for coronary artery bypass surgery. HJLI has a third product candidate, which is a porcine tissue based heart valve, which may be a candidate for pediatric aortic/mitral valve replacement. For more information, please visit HancockJaffe.com.

Cautionary Note on Forward-Looking Statements

This press release and any statements of stockholders, directors, employees, representatives and partners of Hancock Jaffe Laboratories, Inc. (the “Company”) related thereto contain, or may contain, among other things, certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve significant risks and uncertainties.  Such statements may include, without limitation, statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions.  These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission.  Actual results (including, without limitation, the performance of the new board members described herein) may differ significantly from those set forth or implied in the forward-looking statements.  These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control).  The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future presentations or otherwise, except as required by applicable law.

HJLI Press Contacts:

Amy Carmer(949) 261-2900Email: ACarmer@HancockJaffe.com

Media & Investor Relations Contact:

MZ Group  - North AmericaChris Tyson Managing Director(949) 491-8235HJLI@mzgroup.uswww.mzgroup.us