Healthcare Industry News: drug-eluting stent
News Release - October 27, 2006
MIV Therapeutics Announces Timeline for First Human Implantation of HAp NanoFilm Coated StentPositive Long Term Animal Data and a Growing Body of Evidence Provides Necessary Platform to Begin Human Implantation
ATLANTA--(HSMN NewsFeed)--MIV Therapeutics Inc. (OTCBB:MIVT ; FWB:MIV), a leading developer of next-generation biocompatible drug-eluting stents, announced today that it intends to begin the first human implants of a HAp NanoFilm coated stent early in 2007.
Human implantation represents a crucial milestone in MIVT's strategic plan to develop a new class of polymer-free drug-eluting stents that could provide patients with superior outcomes.
"Human implantation is a very important step in our evolution as a company," said Dr. Mark Landy, President of MIV Therapeutics. "This is a major milestone and advances us significantly in our strategic objective to bring a drug-eluting stent to market that could improve long term outcomes for patients."
The beginning of human implantation represents the culmination of extensive research and development and a successful animal trial program.
"The implantation of MIVT's biofriendly HAp coated stents in a human patient will be a world first and major milestone in the Company's strategic business plan," said Alan Lindsay, Chief Executive Officer of MIVT. "Biocompatibility is an important issue in cardiology. We have been working on developing this polymer-free coating for five years and it's extremely pleasing to reach a point where we can start human studies. The exceptionally encouraging scientific results from the animal studies, detailed this week at the TCT conference in Washington DC, have enabled us to reach the point where we can plan and execute this next phase of our research and commercialization program."
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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