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MIV Therapeutics Inc. (OTCBB:MIVT) (FWB:MIV), a leading developer of next-generation biocompatible coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, today announced that Chairman and Chief Executive Officer, Alan P. Lindsay, has released a letter to shareholders, in which he reviews the most recent material developments, including recent agreements to acquire China-based Vascore Medical and India-based Biosync Scientific. Other milestone achievements include the Company's recently announced intention to begin human implantation of its biocompatible stent coating technology early this year.
2006 was a banner year for MIV Therapeutics.
We were proud to be included in the "NANOTECH Top 100," presented by the International Association of Nanotechnology (IAnano) and FORTUNE Magazine featuring the leading 100 public nanotech companies worldwide, another public acknowledgment of the importance MIVT's advanced technology and development programs. The article was published in the FORTUNE 500 2006 issue in April.
Since then we have continued to make significant strategic progress, highlighted by two formal acquisition agreements that will give us a sizeable footprint in the fast growing Chinese and Indian markets. These transactions will give us a broad product portfolio and add to a deep pipeline of breakthrough technologies.
We were pleased to welcome Dr. Mark Landy, a nationally ranked Wall Street medical device analyst and industry authority, joined MIVT as President. Dr. Landy is a well-known pundit in the financial media who has made frequent appearances on CNBC, Reuters, Dow Jones, Bloomberg, The Wall Street Journal and Business Week, to name a few, and has already brought vast experience, knowledge and pedigreed relationships to MIVT.
Our technology progressed significantly and we added some tremendous talent to our research and development teams and some of the most respected minds in cardiology to our Scientific Advisory Board. These efforts culminated in the very successful trial programs we ran during the year, with final results indicating that our polymer-free HAp technology is at least as good and in some cases better than Johnson & Johnson's Cypher stent, and have paved the way for first human implantation planned for early this year.
The emphasis on producing a new generation polymer-free drug eluting stent is growing by the day. The industry received significant scrutiny after some study results suggest that current polymer-coated versions of the DES stents are risky for some patients and could be the cause of late thrombosis (blood clot) with potentially deadly results.
As I mentioned, MIVT has made great progress in its strategy to acquire interests and companies involved in advanced stent technology. In September, we agreed to acquire China-based Vascore Medical, which is expected to provide MIVT with extensive design, manufacturing and marketing capabilities. And in December, we executed an agreement to acquire Biosync Scientific, a leading Indian interventional cardiology company that designs and develops innovative products, including cardiovascular stents.
Through the Biosync acquisition agreement, MIVT will receive seven newly announced products that have already received CE Mark certification, all of which are now available for sale in CE Mark jurisdictions world wide.
The transactions will accelerate our commercialization process and bring MIVT many key design, production, sales and distribution capabilities and an important presence in some of the world's fastest growing economies and markets.
Our recently announced financing will allow us to execute those agreements and prepare for initial human testing planned for early 2007 and to further develop the sales, marketing and distribution of the CE marked products in India, China and fields abroad.
Below are some of our more significant headlines from 2006. The company issued over 33 press releases during the year and all the details can be found on our website, www.mivtherapeutics.com.
Jan 8, 2007:
MIV Therapeutics Executes Private Financings for $4 Million to Support
Acquisitions, Development and Distribution of Next Generation Stents
Dec 14, 2006:
MIV Therapeutics Announces Market Launch of the GenX CrCo Stent and
Seven Associated Interventional Cardiology Products by Biosync
Dec 11, 2006:
MIV Therapeutics Executes Milestone Agreement to Acquire Biosync
Scientific, a Leading Indian Interventional Cardiology Company.
Acquisition Provides MIVT with Highly Competitive CE Marked Bare Metal
Nov 29, 2006:
MIV Therapeutics Announces Company's Biocompatible Stents Matches or
Outperforms World's Leading Drug-Eluting Stent in Key Categories.
Excellent Results from Preclinical Study of Biocompatible Polymer-Free
Drug Eluting Stent Coating Technologies Paves the Way Towards Human
Oct 27, 2006:
MIV Therapeutics Announces Timeline for First Human Implantation of
HAp NanoFilm Coated Stent
MIV Therapeutics, a leading developer of next-generation biocompatible
drug-eluting stents, announced today that it intends to begin the
first human implants of a HAp NanoFilm coated stent early in 2007
Oct 23, 2006:
MIV Therapeutics to Detail Research Results Showing Excellent
Performance of Breakthrough Stent Coatings at TCT Conference
Sep 21, 2006:
MIV Therapeutics Appoints Montreal Heart Institute Interventional
Cardiologist Dr. Raoul Bonan to Guide Clinical Programs.
Sep 15, 2006:
MIV Therapeutics Appoints Mid-America Heart Institute Director
Dr. David Cohen to Scientific Advisory Board; Respected Interventional
Cardiologist to Assist Commercialization of MIVT Technologies for
Safer Cardiovascular Stents
Sep 14, 2006:
MIV Therapeutics Names Harvard Interventional Cardiologist Dr. Joseph
Carrozza to Scientific Advisory Board; Industry Authority to Help
Guide Development of MIVT's Unique Coatings for Highly Biocompatible
Sep 13, 2006:
MIV Therapeutics Enters into Formal Agreement to Acquire Vascore
Medical Co. Ltd.; a Leading Chinese Manufacturer of Advanced
Aug 25, 2006:
MIV Therapeutics Subsidiary Invited to Present Groundbreaking
Stroke-Prevention Device at Top International Symposium.
SagaX to Spotlight Latest Developments to Commercialize Unique
Implantable Embolic Filter at TCT2006 Conference
Jul 6, 2006:
MIVT Cites Growing Body of Scientific Evidence Validating Company's
Strategy to Create Safer, Better Cardiovascular Stents. Company's
Proprietary Solutions to Address Widespread Medical Concerns Detailed
in Wall Street Journal, JAMA
Jun 5, 2006:
MIV Therapeutics' Breakthrough Vascular Stent Coating Technology
Receives Key Independent Endorsement in New Scientific Study.
Independent Research Confirms Primary Safety and Biocompatibility
Attributes of Company's Patented HAp Coatings.
May 8, 2006:
MIV Therapeutics Highlights HAp Composite Coating Technologies at
Leading Conference on Biomaterials.
Better, Safer, More Biocompatible Stent Coating Technologies Presented
at Recent International Society of Biomaterials Meeting
Apr 18, 2006:
MIV Therapeutics Named to Top 100 Nanotechnology Companies by
International Association of Nanotechnology.
Developer of Novel Biomedical Coatings Developer in Same Top 100 List
as Major Wall St. and Fortune 500 Companies
Apr 4, 2006:
MIV Therapeutics Appoints Nationally Ranked Wall Street Medical Device
Analyst and Industry Authority Mark Landy as President.
Landy to Bring Strong Institutional Investment and Business
Apr 10, 2006:
MIV Therapeutics' Bio-compatible Medical Coating Technologies Featured
in Fortune 500 Nanotechnology Special Report.
Business Magazine Spotlights MIVT's Plan to Commercialize Proprietary
Device Coatings for $160 Billion Drug Delivery Marketplace
Mar 22, 2006:
MIVT New Patent Application Targets Worldwide Demand for Safer Drug
Delivery Solutions for Chronic Diseases.
New Non-Polymeric Drug-Eluting Coatings Offer High Biocompatibility,
Drug Storage and Controlled Drug Release
Mar 9, 2006:
MIV Therapeutics SagaX Subsidiary Announces Appointment of New
Executives and Technology Specialists.
Additions to Sagax Team Strengthens Management and Accelerates
Development of Novel Stroke Prevention Device.
Mar 2, 2006:
MIVT Invited to Lecture on its Proprietary Biocompatible Coatings for
Implanted Medical Devices and Drug Delivery Systems for the Localized
Treatment of Diseases
Feb 10, 2006:
MIV Therapeutics Hires Noted Pharmacology Scientist Dr. Vlad Budzynski
to Direct Multiplatform Drug Delivery Program.
Veteran Researcher and University Professor Brings Expertise in Drug
Development and Advanced Biomedical Solutions
As you can see, MIVT is firmly committed to continue building shareholder value. Our management team is determined to deliver our next generation medical devices to the interventional cardiac market and to improve the lives of those patients whom it benefits.
I invite you to continue following MIVT's extraordinary success. Thank you for your time and support.
Alan P. Lindsay,
Chairman and Chief Executive Officer
About MIV Therapeutics
MIV Therapeutics is developing a next-generation line of advanced biocompatible coatings for passive and drug-eluting applications on cardiovascular stents and a broad range of other implantable medical devices. The Company's ultra-thin coating formulation is designed to protect surrounding tissue from potentially harmful interactions with bare metallic stents. The Company's unique ultra-thin coating platform is derived from an organic material called hydroxyapatite (HAp) which has demonstrated excellent safety and biocompatibility in vivo animal studies. Hydroxyapatite is a bioactive porous material that makes up the bone mineral and matrix of teeth and is widely used today as a bone substitute material and for coatings on implantable fixation devices in orthopedic, dental and other applications. The Company's novel polymer-free drug-eluting technologies based on Hydroxyapatite could also provide an attractive alternative to current polymer-based drug-eluting coatings on the stent market, which have been associated with undesirable medical effects. The Company's drug-eluting coatings are additionally designed to suit a broad range of implantable medical devices that could benefit from highly customizable drug release profiles. MIVT has a Collaborative Research Agreement (CRA) with the University of British Columbia and has received Government grant for its research program on the "Development of Novel Drug Eluting Composite Coatings for Cardiovascular Stents," under the National Research Council-Industrial Research Assistance Program (NRC-IRAP). Under this sponsorship, the Company is expected to complete its drug-eluting research and development program and to reach product commercialization stage. For more information, please visit http://www.trilogy-capital.com/tcp/mivt/website.html . To read or download MIV Therapeutics' Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/mivt/factsheet.html . To obtain daily and historical Company stock quote data, and recent Company news releases, visit http://www.trilogy-capital.com/tcp/html/mivt.htm . MIVT is traded on the Frankfurt, Germany, stock exchange under the symbol MIV.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "revolutionary," "should," "ideal," "extremely" and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's recent Form 10-K and Form 10-Qs, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
For more information, please click here
MIV Therapeutics Inc.
Denis Corin, 604-301-9545 ext. 14
Trilogy Capital Partners
Paul Karon, Toll-free: 800-592-6067
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