Message #73 From:
NewsBot Date: September 19, 2006 03:30:00 AM
MIVT News MIV Therapeutics Cited as Leading Technology Innovator in Cardiovascular Device Industry Report by Frost & Sullivan; Internationally Recognized Technology Consulting Firm Lauds Company's Advanced Biocompatible Technology Initiatives
ATLANTA--(BUSINESS WIRE)--Sept. 19, 2006--MIV Therapeutics (OTCBB:MIVT) (FWB:MIV), a leading developer of next-generation biocompatible coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, has announced that the widely respected global consulting firm Frost & Sullivan has cited the Company's innovative stent coating technology as among the most advanced of the emerging class of biocompatible third generation cardiac stents under development.
The Frost & Sullivan report, titled "Cardiovascular Stents Business at the Crossroads: A new turning point for business growth and development," highlights the medical industry's current frustration with existing generations of stent products now in use. A growing body of evidence has found that complications associated with existing stent products "result in an increased mortality rate and accelerate the trend towards death," according to the report.
The report also discusses notable stent industry efforts to address these medical issues, reporting recent scientific breakthroughs in second generation and third generation drug-eluting stents (DES). The Frost & Sullivan report cites MIVT as one of the leaders in the newest generation of stents under development.
"Canadian-based MIV Therapeutics has developed a hydroxyapatite (HA) coating which would make metallic stents more bio-compatible," said the Frost & Sullivan report. "In fact, hydroxyapatite is a commonly used coating for orthopedic implant applications. As the market for stents matures, increased product differentiation is expected to take place. This would develop the market further for the benefit of cardiovascular patients."
"MIVT continues to gain recognition as a leader in the cardiovascular stent development industry," said Dr. Mark Landy, President of MIVT. "This Frost & Sullivan report is the latest validation for our hydroxyapatite-based nanotechnology and coatings, which we believe will someday be the product of choice for cardiologist around the world. We have positioned ourselves to successfully lead the development of biocompatible stents technologies along with such biomedical device giants as Johnson & Johnson and Boston Scientific, which were also mentioned in the report."
Frost & Sullivan is a global growth consulting company that has been partnering with clients to support the development of innovative strategies for more than 40 years. Its extensive clientele includes Global 1000 companies, emerging companies and the investment community, providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics.
The report can be read on Frost & Sullivan's corporate website at www.Frost.com.
About MIV Therapeutics Inc.
MIV Therapeutics is developing a next-generation line of advanced biocompatible coatings for passive and drug-eluting applications on cardiovascular stents and a broad range of other implantable medical devices. The Company's ultra-thin coating formulation is designed to protect surrounding tissue from potentially harmful interactions with bare metallic stents. The Company's unique ultra-thin coating platform is derived from an organic material called hydroxyapatite (HAp), which has demonstrated excellent safety and biocompatibility in vivo animal studies. Hydroxyapatite is a bioactive porous material that makes up the bone mineral and matrix of teeth and is widely used today as a bone substitute material and for coatings on implantable fixation devices in orthopedic, dental and other applications. The Company's novel polymer-free drug eluting technologies based on Hydroxyapatite could also provide an attractive alternative to current polymer-based drug eluting coatings on the stent market, which have been associated with undesirable medical effects. The Company's drug eluting coatings are additionally designed to suit a broad range of implantable medical devices that could benefit from highly customizable drug release profiles. MIVT has a Collaborative Research Agreement (CRA) with the University of British Columbia and has received Government grant for its research program on the "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 is expected to complete its drug-eluting research and development program and to reach product commercialization stage. For more information, please visit http://www.trilogycapital.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.
