VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 21, 2005--MIV
Therapeutics, Inc. (OTCBB:
MIVT -
News; FWB:MIV), a developer of
next-generation biocompatible stent coatings and drug delivery
technologies, has officially been named winner of Frost & Sullivan's
prestigious 2005 Award for Technology Innovation in the Field of
Advanced Medical Coatings.
A report by Frost & Sullivan about the award and MIVT's
proprietary technology can be viewed at:
http://www.trilogy-capital.com/tcp/mivt/frost.html.
The Frost & Sullivan award recognizes MIVT's pioneering work to
develop proprietary coating technologies that may enable the
production of better, safer vascular stents, medical devices and drug
delivery systems. In the award notification, Frost & Sullivan praises
MIVT for its development of two distinctive routes for fabricating
leading-edge biocompatible coatings for stents. The notification
report also explains in detail the substantial competitive advantages
of these technologies in the global biomedical marketplace.
MIVT's proprietary technologies have been shown not to trigger a
variety of the adverse reactions often associated with currently
available polymer-coated coronary stents, including the re-blocking of
arteries following angioplasty and thrombosis (blood clotting). MIVT
coatings are based on a natural material, Hydroxyapatite (HAp), a
component of hard tissue found in human teeth and bone, which enables
the surface of metallic stents to virtually mimic the biological
"signature" of natural tissue. MIVT believes its innovative technology
also has the potential for an array of additional biomedical
applications, including dental, hip and bone repair implants.
Each year Frost & Sullivan presents an award to one company or
individual whose innovative research is expected to bring significant
contributions to the industry. The award criteria recognize the
quality and depth of a company's research and development program, as
well as the vision and risk-taking that enabled it to undertake such
an endeavor.
About Frost & Sullivan
Frost & Sullivan, a respected global independent research and
growth consulting firm, 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 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
