Healthcare Industry News: Bare-Metal
News Release - September 21, 2006
MIV Therapeutics Appoints Montreal Heart Institute Interventional Cardiologist Dr. Raoul Bonan to Guide Clinical ProgramsWorld Renowned Specialist Brings Extensive Clinical Trial Expertise
ATLANTA--(HSMN NewsFeed)--Sept. 21, 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 Dr. Raoul Bonan, a leading interventional cardiologist with particular experience in cardiological device development and clinical trials, has joined the Company as a Clinical Consultant.
In the position, Dr. Bonan will oversee the next phases of MIVT's research and human clinical studies as the Company steps up development and commercialization of its novel, highly biocompatible cardiovascular stents. During his career, Dr. Bonan has helped develop and obtain FDA approval for several innovative interventional cardiac devices, including one of the first PTCA balloons, and others.
MIVT is a leader in the development of next-generation cardiovascular stent technology being designed to provide substantial health and safety benefits and outcomes over previous generations of Bare-Metal and drug-eluding stents. MIVT has developed a new line of both ultra-thin and drug-carrying cardiovascular stent coatings based on its proprietary hydroxyapatite (HAp) technology.
As a sought-after consultant in the medical device industry, Dr. Bonan serves as Medical Advisor to many leading companies including Medtronic Vascular, providing strategic consultation relating to the delivery of therapeutic devices for the treatment of structural heart and vascular diseases. He was also Vice President of Medical Affairs at Novoste Corporation.
"I think the biocompatible stents MIVT is developing have great potential to solve the most pressing medical concerns and complications associated with the current state of the art stents," said Dr. Bonan. "Based on the research findings so far, I believe MIVT's HAp-based coating technologies have the clear potential to emerge as the industry leader in the next generation of safer and better-performing cardiovascular stents. I'm very excited to have a chance to work with this visionary team on the commercialization of MIVT's superb technologies."
Dr. Bonan has also held a number of executive and research roles in leading cardiac care and research institutions. Among these positions was Director of the Montreal Heart Institute, Chief of the Cardiac Catheterization Laboratory, and in a number of other posts at that institution. He is an Associate Professor of Medicine at the University of Montreal, and Cardiologist Consultant at medical device developer CoreValve Inc., Conor, NMT Medical.
"As an experienced interventional cardiologist medical industry executive, Dr. Bonan brings us extremely valuable background in the development of breakthrough technology and the creation of clinical strategies," said Dr. Mark Landy, President of MIV Therapeutics. "Essentially, Dr. Bonan will fill the role typically held by the Chief Medical Officer. We expect that his leadership and experience will help us accelerate our HAp technology programs as we drive toward the next steps in human clinical trials."
The Company also announced that Dr. Dov Shimon, CEO of MIVT's subsidiary SagaX Medical Technologies, has resigned the role of Chief Medical Officer in order to fully focus his efforts on SagaX development programs as it prepares for its own clinical trials.
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.
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.
Source: MIV Therapeutics
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