TSX VENTURE : MOM


Miraculins Inc.
 

November 19, 2012 07:00 ET

Miraculins Provides Year End Summary Report on PreVu Progress

 

 

WINNIPEG, MANITOBA--(Marketwire - Nov. 19, 2012) - Miraculins Inc. (TSX VENTURE:MOM), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs is pleased to provide the market with a summary overview of its key operating, marketing and distribution accomplishments for PreVu®, the Company's Non-Invasive Skin Cholesterol Test technology, for the 2012 fiscal year.

"Miraculins accomplished a significant number of meaningful milestones over the past year," said Christopher J. Moreau, President and CEO of Miraculins. "Our dedicated team has worked with diligence and a high standard of professionalism towards our goal of ensuring that PreVu becomes an internationally recognized and utilized early screening test for risk of coronary artery disease (CAD). We are pleased to provide the following summary of our accomplishments for 2012. We will be updating the market on our plans and strategy for 2013 shortly."

2012 Highlights:

  • Prepared for Commercialization and Met Regulatory Requirements
    • Received formal ISO Certificate of Registration by The BSI Group Inc. designating Miraculins as a medical device manufacturer with a certified quality management system
    • PreVu® Non-Invasive Skin Cholesterol Point of Care (POC) Test CE Marked and officially registered within the European Union
    • PreVu® Non-Invasive Skin Cholesterol POC Test cleared for sale by Health Canada
    • Outlined and reiterated details of the FDA's clearance for its PreVu® Non-Invasive Skin Cholesterol POC Test, which was issued prior to Miraculins' acquisition of the PreVu technology and remains in effect in the U.S. marketplace
    • Developed and launched an English language Canadian web site for its PreVu® Non-Invasive Skin Cholesterol POC Test at www.prevu.com
    • Developed and launched a French language Canadian web site for its PreVu® Non-Invasive Skin Cholesterol Test at www.prevu.com
    • Received Notice of Allowance from the United States Patent and Trademark Office for a patent that covers the use of spectrophotometric measurements for the non-invasive analysis of skin cholesterol (POC technology) and issued a patent by the State Intellectual Property Office of the People's Republic of China that covers use of a tape stripping device for skin sampling (LP technology)
  • Established Distribution Partnerships and Developed Sales Channels
    • Entered into an agreement with The Stevens Company Limited - the largest, privately-owned Canadian distributor of hospital, physician and nursing home supplies - that will see the PreVu® Non-Invasive Skin Cholesterol POC Test distributed to the Canadian medical market
    • Entered into an agreement with Pear Healthcare Solutions Inc., a leading provider of in-pharmacy health screening and education services, that will see the PreVu® Non-Invasive Skin Cholesterol POC Test distributed to the Canadian retail pharmacy market segment
    • Successfully completed the retail pharmacy launch of the PreVu® Non-Invasive Skin Cholesterol POC Test in 11 London Drugs locations in Western Canada, which generated a dynamic response from the public and media. The launch included the provision of store level promotion and advertising and the validation of a number of logistical processes, resulting in a number of patients tested with PreVu at an introductory price of $19.99
    • Conducted an expansive education and awareness campaign to over 3,600 medical doctors in Vancouver/Lower Mainland as well as Winnipeg (pilot regions) in advance of the London Drugs launch
  • Strengthened Financial Position
    • Closed a private placement offering (the "Offering") with aggregate gross proceeds to the Company of $2,452,292
    • Received $130,000 in grant funding from the Manitoba Commercialization Support for Business (CSB) Program to support commercialization of its PreVu® Non-Invasive Skin Cholesterol Test
  • Retained Experienced Leaders/Advisors
    • Renowned cardiologist Dr. G.B. John Mancini, MD, FRCPC, FACC appointed to the PreVu Medical Advisory Board and named Chair
    • Preeminent Canadian Cardiologist, Scientist and University Professor, Dr. Milan Gupta, MD, FRCPC, FACC appointed to the PreVu Medical Advisory Board
    • Distinguished U.S. Cardiologist Dr. Henry A. Solomon, MD, FACP, FACC appointed to the PreVu Medical Advisory Board as first U.S. based member
    • Appointed renowned international fund manager Jim Mellon to the Miraculins Board of Directors
    • Appointed broadcast media executive Mr. William (Bill) Roberts to the Miraculins Board of Directors