VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 2, 2005--MIV Therapeutics, Inc. (OTCBB:
MIVT -
News; FWB: MIV), a
leading developer of next-generation biocompatible coatings and
advanced drug delivery systems, today announced highly favorable
results demonstrated by preclinical studies of a unique filtration
device designed to prevent strokes and other serious complications
that can result from common cardiac procedures and other causes.
Called the Aortic Embolic Protection Device (AEPD), this
implantable instrument is designed for implantation in the aorta --
the main artery providing blood supply to the brain. Once positioned,
the AEPD functions as a deflector and filter to prevent migration of
embolic particles and blood clots that can obstruct or block blood
vessels supplying the brain, and thus prevent strokes that can result
in brain damage, disability or death. Stroke is the third leading
cause of death and the leading cause of severe disability in the
world.
The study was designed to measure the device's safety and to
confirm critical positioning and performance following implantation in
the aorta. The results of the study performed on sheep under varying
conditions are considered medically significant, and reinforce the
device's potential as a viable preventive tool to fight strokes in
cardiac patients.
MIVT's SagaX subsidiary is developing the AEPD stroke-prevention
device.
"We're excited by this pivotal data from the ongoing preclinical
studies being conducted on our novel stroke prevention device," said
Dr. Dov Shimon, CEO of SagaX, and a renowned heart surgeon who
invented the Company's stroke-preventing technology. "The results
provide further validation of the life-saving potential of our
proprietary devices for cardiac patients. Our technology is at the
cutting-edge of scientific development in the prevention of
cardio-embolic stroke, but the success of our stroke-prevention
devices is rooted in their functional simplicity and ease of use."
The animal studies with the AEPD are being performed in the Animal
Heart Catheterization Laboratory of the Hadassah University Hospital
in Jerusalem, Israel, under the stewardship of Dr. Chaim Danenberg, a
Senior Cardiologist, and Dr. Haim Lotan, the Chairman of the
Department of Cardiology. These advanced exploratory studies pave the
way to further full-scale animal and human trials and ultimately the
FDA approval process and commercialization.
News sources have recently reported that the global market for
implantable stroke prevention devices is expanding rapidly worldwide,
and could grow into a potential $500 million to $1 billion market
segment in the next few years. MIVT is committed to capitalizing on
that marketplace opportunity for high growth revenue with its
proprietary AEPD stroke prevention technology.
It is anticipated that following further successes in preclinical
tests and clinical human trials, a first-generation device could be
approved and successfully commercialized within relatively short
period of time.
"We're extremely pleased with the very promising performance of
the aortic protection device in all of the bench and animal model
studies performed thus far and we are looking forward to further
development and testing," said Alan Lindsay, CEO and president of MIV
Therapeutics. "We believe the AEPD can help to reduce the threat of
disabling or fatal strokes for cardiovascular patients and other
patients in the high risk category for stroke."
About MIV Therapeutics
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 broad
range of 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 exceptional biocompatibility 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 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. 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.
