VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 17, 2005--MIV
Therapeutics, Inc. (OTCBB:
MIVT -
News), a developer of next-generation
biocompatible and drug-delivery coatings for cardiovascular stents,
has been extolled as one of the leading companies in the field of
advanced medical coatings in a newly released research service from
Frost & Sullivan, a highly respected global independent research and
growth consulting firm.
In a comprehensive report entitled, "Advances in Coatings
Technology for Medical Devices and Drug Delivery," Frost & Sullivan's
Technical Insights Group discussed the development of MIV
Therapeutics' pioneering, completely biocompatible Hydroxyapatite
(HAp) technology for medical coatings, and its potential to improve
stents and other implantable devices, as well as advanced drug
delivery systems. The research service reviews current medical device
coatings technologies, innovations, and market trends.
The 100-plus page research service recognizes MIV Therapeutics as
a leader of innovation in the field. It also highlights the specific
technical benefits and competitive advantages of the Company's HAp
technology platform for better functionality of stents and an array of
other critical devices.
"The technology developed by MIV therapeutics is an entirely new
approach as compared to the classic polymer+drug coating designated to
stop growth of tissue," the research service notes. "The HAp coatings
are entirely biocompatible and thus promote tissue healing and permit
the optimal growth of endothelium. The company has a repository of
technologies namely the HAp ultra-thin dense (less than 0.2um) nano-
films only, thin (0.5-1um) porous HAp films and thin-medium (1-5um)
composites of HAp + biopolymer. Each of these technologies has an
important role to play in the performance of the stent."
Frost & Sullivan, a leading independent third-party research and
growth consulting firm, provides influential industry analysis about
technology innovations across numerous markets. Its review of the
medical device industry's latest coatings and drug delivery
technologies, processes and patents also provides expert insights into
new market developments and up-and-coming industry players. In
preparing the research service, Frost & Sullivan analysts analyzed key
organizations, companies, universities, research institutions, and
government agencies involved in R&D in the field of coatings for
medical devices.
The research service further underscores the unique advantages of
MIVT's HAp coatings, including:
- Unsurpassed biocompatibility;
- Superior safety;
- Enhanced drug delivery efficacy; and
- Cutting-edge coatings control properties for drug-delivery.
MIVT's coating technology is based upon a natural material,
Hydroxyapatite (HAp), a component of hard tissue found in bone and
other parts of the human body, which enables the surface of metallic
stents to virtually mimic the natural state of structurally-sound 100%
biocompatible and bio-active tissue.
The research service also notes, "The ultra-thin dense HAp
nano-films are designated as advanced surface modification for
improved biocompatibility and/or foundation of the thicker and porous
HAp and medium-thick HAp-polymer composites; the thicker and porous
coatings of pure HAp are designated as drug-carrying reservoirs; the
medium-thick HAp-polymer composites are designated for increased drug
carrying capacity, additional controls and flexibility of drug
delivery profiles and to ensure drug delivery over extended periods of
time. The company is currently evaluating the technology in one of the
most technically challenging applications, i.e., cardiovascular
stents."
Alan Lindsay, CEO of MIVT, said he was gratified that the Frost &
Sullivan Technical Insights Group recognized the importance of the
Company's next-generation HAp technologies, and their potential to set
a new standard of performance in the biomedical coating industry.
"Independent and objective analysis of the sort Frost & Sullivan
provides is a critically important part of the process of technology
innovation," said Mr. Lindsay. "Additional voices such as these
validate our proprietary research and development initiatives. They
also greatly assist in the process of effective communication with the
financial community regarding the biomedical importance and
marketplace potential of MIVT's new breed of biocompatible medical
coatings. Frost & Sullivan's comprehensive research service does an
excellent job of describing the characteristics and advantages of
MIVT's proprietary technology, and in conveying the potential of any
products we develop to help countless patients with cardiovascular
disease and other conditions to live healthier, longer lives."
MIV Therapeutics is developing and pursuing the commercialization
of unique HAp-based coatings for stents and other medical devices in
order to provide improved solutions for the treatment of
cardiovascular disease and other conditions. In collaboration with the
University of British Columbia, the Company is focused on developing
an ultra-thin coating formulation to protect surrounding tissue from
chemical interaction with bare-metal stents, an interaction which
typically causes aggressive responses of the immune system, resulting
in elevated restenosis and risks of thrombus in the stented artery.
HAp coatings have been shown in pre-clinical studies to
demonstrate critical advantages over the existing generation of stent
coatings. Most importantly, these studies have shown that HAp coatings
trigger none of the harmful inflammation and unhealthy tissue growth
within arteries that are the leading causes of stent failure and
restenosis, or re-blocking of the arteries following angioplasty.
Polymer-based drug-eluting coatings currently in use, however, are
associated with significant rates of inflammation and other adverse
reactions for the patients who receive vascular stent implants. In
addition, MIVT's coatings are designed to reduce risks of thrombogenic
(blood clotting) events attributable in some instances to
polymer-coated stents. MIVT believes its proprietary HAp technology
has the potential for use in an array of other medical applications,
including dental, hip and bone repair implants.
The research service on MIVT can be purchased through the Frost &
Sullivan website at http://www.frost.com.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been
partnering with clients to support the development of innovative
strategies for more than 40 years. The company's industry expertise
integrates growth consulting, growth partnership services, and
corporate management training to identify and develop opportunities.
Frost & Sullivan serves an extensive clientele that includes Global
1000 companies, emerging companies, and the investment community by
providing comprehensive industry coverage that reflects a unique
global perspective and combines ongoing analysis of markets,
technologies, econometrics, and demographics. For more information,
visit www.frost.com.
About MIV Therapeutics, Inc.
MIV Therapeutics Inc. is developing a next-generation line of
advanced biocompatible coatings for passive and drug-eluting
application on cardiovascular stents and for application on other
implantable medical devices. The Company's ultra-thin coating
formulation is designed primarily to protect surrounding tissue from
the chemical interaction with metal stents. The Company's unique
ultra-thin coating has been derived from a biocompatible material
called hydroxyapatite (HAp) that during in-vivo animal trials
demonstrated excellent safety and superior healing properties pursued
by the science in the field of advanced implantable drug delivery
systems. Hydroxyapatite is a bioactive porous material that makes up
the bone mineral and matrix of teeth. It is widely used as a bone
substitute material and for coating implantable fixation devices in
orthopedic, dental and other applications. The Company's novel
drug-eluting technologies based on Hydroxyapatite provide an
alternative solution to polymer-based drug-eluting coatings currently
in the stent market. The Company's drug-eluting coating is designed to
suit a broad range of implantable medical devices which may benefit
from a highly customizable drug release profile. MIVT reached a
Collaborative Research Agreement (CRA) with the University of British
Columbia and supported a research and development grant from the
Natural Sciences and Engineering Research Council of Canada (NSERC) in
2002 for the development of Hydroxyapatite as a drug-eluting coating.
In December 2004 MIVT received a Government grant for the research
program titled "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 will progress to the development stage, which
is expected to finalize the drug-eluting research and development
Program. 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.
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, 604-301-9545
Toll-free: 800-221-5108
Fax: 604-301-9546
E-mail: investor@mivtherapeutics.com
Web: www.mivtherapeutics.com
Or for Product Inquiries and Business Opportunities:
Arc Rajtar, 604-301-9545 Ext. 22
arajtar@mivi.ca
or
Trilogy Capital Partners
Paul Karon, Toll-free: 800-342-1467
paul@trilogy-capital.com
