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MIV Therapeutics Inc. (OTCBB: MIVT)
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Dear Reader,
With biotechnology and pharmaceutical firms, progress is often measured by trials and approvals, especially those that come as a result of human testing. Human testing represents the culmination of extensive R&D and a successful animal trial program. Most companies won’t get this far.
Along these lines, MIV Therapeutics Inc. (OTCBB:MIVT), 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. Clearly, this is an enormous step for MIV in their continuing efforts to craft a finer drug-eluting stent.
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Breaking *News* From MIVT |
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Press Release Source: MIV Therapeutics Inc.
Friday October 27, 4:01 pm ET
MIV Therapeutics Announces Timeline for First Human Implantation of HAp NanoFilm Coated Stent
Positive Long Term Animal Data and a Growing Body of Evidence Provides
Necessary Platform to Begin Human Implantation
ATLANTA--(BUSINESS WIRE)--MIV Therapeutics Inc. (OTCBB:MIVT - News; FWB:MIV), 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.
Human implantation represents a crucial milestone in MIVT's strategic plan to develop a new class of polymer-free drug-eluting stents that could provide patients with superior outcomes.
"Human implantation is a very important step in our evolution as a company," said Dr. Mark Landy, President of MIV Therapeutics. "This is a major milestone and advances us significantly in our strategic objective to bring a drug-eluting stent to market that could improve long term outcomes for patients."
The beginning of human implantation represents the culmination of extensive research and development and a successful animal trial program.
"The implantation of MIVT's biofriendly HAp coated stents in a human patient will be a world first and major milestone in the Company's strategic business plan," said Alan Lindsay, Chief Executive Officer of MIVT. "Biocompatibility is an important issue in cardiology. We have been working on developing this polymer-free coating for five years and it's extremely pleasing to reach a point where we can start human studies. The exceptionally encouraging scientific results from the animal studies, detailed this week at the TCT conference in Washington DC, have enabled us to reach the point where we can plan and execute this next phase of our research and commercialization program."
About MIV Therapeutics Inc.
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.trilogycapital.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.
Forward-Looking Statements
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.
Contact:
MIV Therapeutics Inc.
Investor Relations
Denis Corin, 604-301-9545 x14
Toll-free: 800-221-5108
Fax: 604-301-9546
investor@mivtherapeutics.com
http://www.mivtherapeutics.com/
or
Trilogy Capital Partners
Paul Karon, Toll-free: 800-592-6067
paul@trilogy-capital.com
Source: MIV Therapeutics Inc.
You may view all the latest news on MIV Therapeutics HERE
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About MIV Therapeutics Inc. |
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MIV Therapeutics Inc. is an advanced stage, research and development company pursuing the commercialization of the next generation of fully biocompatible coatings for stents and other medical devices with the intent of providing healing solutions for cardiovascular disease and other conditions. In collaboration with the University of British Columbia (UBC), the Company has developed unique coating technologies that utilize Hydroxyapatite (HAp) for application on medical devices and drug delivery systems.
MIVT has a strategic alliance with the University of British Columbia (UBC), where it has licensed from the university worldwide rights to technologies for coating stents and other medical devices with HAp. This coating enhances the biocompatibility of implanted devices since it is a material that is found in the body as the main constituent of bone.
MIVT’s technology is considered to be suitable for broad applications in cardiovascular and non-vascular drug/device combination products. The Company’s goal is to continue on its path of success and diversify its portfolio to capitalize on these potential applications, accessing the $200 billion market of combination drug/device products.
MIVT’s current product portfolio encompasses the following preclinical development projects:
* HAp-nano-film coating technology - The Company’s lead product in development is an HAp-coated coronary stent with a nano-film coating. HAp is naturally found in bone and tooth enamel and is rapidly integrated into the human body. As such, it may inhibit a variety of adverse and inflammatory reactions and potentially help reduce restenosis, a recurrence of CAD following angioplasty. It is also believed that HAp-coated cardiovascular stents will not trigger late adverse thrombogenic reactions.
* Drug-eluting stents - The Company is expected to enter the drug-eluting stent market by using a thicker coating of HAp loaded with a suitable drug, i.e. anti-inflammatory. The technology has applications in cardiovascular and non-cardiovascular drug/device combination products, including peripheral stents, biodegradable implants, gene therapy, and delivery systems for release of chemotherapeutic agents.
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MIVT Technology |
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MIV Therapeutics is utilizing hydroxyapatite (HAp) films and composites in the development
of biocompatible coatings for stents and drug delivery systems
HAp is naturally found in bone and tooth enamel and is rapidly integrated into the human body. Numerous results from clinical tests and surgical practice have shown that in addition to its demonstrated biocompatibility, this new generation of advanced biocompatible coatings is non-toxic and does not induce thrombogenicity, allergic or inflammatory reactions, therefore making it a potentially solid candidate as a coating for coronary stents and other implantable medical devices.
Drug-Eluting Stents
- Since patients receiving stents remain at risk for the aforementioned problems, doctors continue to explore more efficient and longer-lasting stenting solutions. One of the more effective methods involves employing stents that are covered with medicines that can be released once inside the body. These are called drug-eluting stents.
MIVT appears to be in a solid position to enter the lucrative drug-eluting stent market using two product development approaches:
1. Nano-film coating with sufficient capacity to carry adequate quantity of anti-inflammatory drugs, which can reduce post-procedural trauma; and
2. Porous HAp coating, which is in an advanced development stage and can be loaded with considerable quantity of drugs, including anti-inflammatory, immune system depressants, or with the new generation of antithrombotic and/or antirestenotic drugs.
This technology has applications in cardiovascular and non-cardiovascular drug/device combination products, including peripheral stents, biodegradable implants, gene therapy, and delivery systems for release of chemotherapeutic agents.
Drug-eluting stents countermeasure post-deployment inflammatory reactions and considerably reduce the incidence of restenosis to only approximately 8% from 25% with bare stents. Drug-eluting stents have become, after approximately one year on the market, the most widely used modality for coronary revascularization. This has resulted in a paradigm shift in clinical practice that has quickly become the standard of care, despite the fact that drug-eluting stents cost approximately $2,600—three to four times the price of a bare metal stent.
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MIVT Market Opportunity |
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Market Opportunity
MIV Therapeutics’ passive HAp nano-film coating technology has been developed to offer an attractive alternative to the bare-metal stent and should provide significant benefit to those who cannot afford drug-eluting stents. The passive HAp nano-film coating has the capacity to carry sufficient anti-inflammatory drugs, which can reduce post-procedural trauma.
The Company’s second product candidate, the multi-layer HAp stent coating, is being developed to treat cardiovascular disease with an emphasis on inhibiting restonosis as well as localized drug delivery to other diseased organs of the body. The multi-layer, porous HAp coating can be loaded with considerable amounts of drugs including anti-inflammatory, immune system depressants or with anti-thrombotic and/or antirestenotic drugs. The proprietary drug-eluting coating technology is natural in composition and has the potential to become the coating of choice for drug delivery systems on medical devices.
Coronary stenting is a key component of interventional cardiology. This is a rapidly growing clinical specialty and one characterized by the ready adoption of new products. The coronary stent market recorded worldwide sales of USD$3 billion in 2003 and is estimated to show significant growth from the introduction of drug-eluting stents, with sales reaching USD$7 billion in 2007.
Additionally, through the diversification of its product/technology portfolio, MIV Therapeutics hopes to also capitalize on new applications of its technology in order to access the USD$200 billion market of drug/device combination products. The market for drug-eluting stents is one of the fastest growing segments within the medical device arena, with annual growth approaching 25%.
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Financial Highlights For MIVT |
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Recent Trade: $0.50 (10/30/06)
52 wk range: 0.49 - 1.49
Avg Vol (3m): 111,511
Approx. Market Cap: $19.2 M
Shares Outstanding: 40,184,835 as of 2004-08-31
To view the latest 10Q from on the SEC Web site, click Here
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Contact Information |
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MIV Therapeutics Inc.
8765 Ash St. Unit #1
Vancouver, B.C.
Canada V6P 6T3
Investor Relations
604-301-9545, x14
Toll-free: 800-221-5108
Fax: 604-301-9546
E-mail: investor@mivtherapeutics.com
or
Trilogy Capital Partners
Paul Karon, 800-592-6067
paul@trilogy-capital.com
MIVT Corporate Web Site: Click Here
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