MIV Therapeutics Files both US and International Patents for Breakthrough Smart III Nanoparticle Drug Delivery System: Financial News

MIV Therapeutics Files both US and International Patents for Breakthrough Smart III Nanoparticle Drug Delivery System
Friday October 7, 4:01 pm ET

Cutting-Edge Nanotechnology Particulate System Could Revolutionize Drug Delivery Methods to Treat Major Diseases

VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 7, 2005--MIV Therapeutics, Inc. (OTCBB:MIVT - News; Frankfurt/FSE:MIV), a developer of next-generation biocompatible stent coatings and drug delivery technologies, today announced the filing of landmark US and international Patent Cooperation Treaty (PCT) patent applications for the newest member of its advanced "Smart" drug delivery systems, designed to meet the individual needs of millions of patients.

Smart III technology could moreover be applied to medical device coatings, tablets, capsules, and other drug delivery methods to treat a diverse range of diseases, from cancer to HIV to cardiovascular disease, said Dr. Dean-Mo Liu, Chief Scientist of Drug Delivery Technologies at MIVT in Vancouver, Canada. "The release of a drug or drugs is now controllable via slow diffusion and/or layer-by-layer degradation of this novel nanostructure, with possible drug release patterns ranging from slow diffusion to a burst release, depending on the clinical need. In addition, Smart III nanoparticles can be administered in various forms, including via drug injection, inhalation, oral pill, spraying, or capsule."

Advanced drug elution technologies are absorbing an increasingly large share of the global biotechnology marketplace. Drug eluting medical device coatings, for example, have produced a paradigm shift in clinical care since their commercial debut in the last couple of years. The U.S. Dept. of Commerce estimates a burgeoning domestic market for advanced drug delivery systems of $86 billion in 2007, and more than $150 billion globally.

"We believe that this invention represents a major breakthrough in pharmaceutical technology and eventually, in patient care," said Dr. Liu. "It advances the possibilities of drug delivery to targeted tissues and can apply to a range of drugs, especially water-insoluble agents such as anti-cancer drugs, protein drugs and anti-HIV drugs. In addition, this unique structure could be suitable to deliver contrast agents for extended periods of time, to enhance medical diagnostic tests."

The Smart III patent filing represents the latest "Smart" proprietary technology developed by MIVT. Earlier members of the "Smart" family of drug delivery technologies were specifically designed for advanced medical device coatings on implantable medical devices. The newest member, however, has much broader potential use for drug delivery purposes because of its novel and highly-customizable particulate structure.

Arc Rajtar, Chief Technology Officer at MIVT, said, "This breakthrough drug delivery solution puts MIV Therapeutics firmly within the ranks of leading innovators in the burgeoning market for next-generation drug delivery capabilities. We are very excited by the potential of this remarkably flexible technology, which brings the promise of superior drug delivery performance."

MIVT's "Smart" technologies are under development at MIVT's Vancouver-based research and development facility under the stewardship of Dr. Liu. The proprietary technology is entirely owned by MIVT.

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 attractive alternative solution to polymer-based drug eluting coatings currently in the stent market. The Company's diversified and unique family of "Smart" drug delivery technologies 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. MIVT is also traded on the Frankfurt Stock Exchange under the ticker symbol MIV. 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
     Investor Relations
     Trilogy Capital Partners
     Paul Karon, Toll-free: 800-342-1467
     paul@trilogy-capital.com

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