Healthcare Industry News: drug-eluting stent
News Release - December 14, 2006
MIV Therapeutics Announces Market Launch of the GenX CrCo Stent and Seven Associated Interventional Cardiology Products by Biosync ScientificLaunch is a Key Milestone in the Company's Mission to Deliver a Broad Range of Products to the Interventional Cardiology Community
ATLANTA--(HSMN NewsFeed)--MIV Therapeutics Inc. (OTCBB:MIVT ; FWB:MIV), a leading developer of next-generation biocompatible polymer-free drug-eluting stents and advanced drug delivery systems, has announced that Biosync Scientific, which the Company has a formal agreement to acquire, has introduced a portfolio of new cardiovascular stents and related products at the 58th Annual Meeting of The Cardiological Society (CSI) of India, held recently in New Delhi.
The seven newly announced products validate MIVT's mission to become a leading interventional cardiology company focused on delivering a broad suite of advanced cardiovascular stents and related products to patients, physicians and hospitals around the world.
The new products include the GenX CrCo thin-strut coronary stent system, the GenX stainless steel coronary stent system, the X-ACT Inflation Device, a haemostatic y-connector adaptor kit, an insertion tool, a guide wire torquer and a high-pressure 3-way stopcock.
Notably, the products have all been CE Mark certified, a mandatory European community stamp of approval that enables products to be sold in Europe and other key markets around the world.
MIVT and Biosync will roll out these products over the next quarter, under a strategic plan that will deliver them first to the interventional cardiology community in India, to be followed with distribution in other countries in Asia, Europe, Latin America and elsewhere.
The products allow MIVT to accelerate the development of its brand and distributor relationships around the world as the Company prepares for the commercialization of its broad range of hydroxyapatite (HAp) coated stents, polymer-free drug-eluting stents, and other interventional cardiology products.
"This launch is an important milestone in the transformation of MIV Therapeutics into a full-fledged interventional cardiology company with a broad product portfolio and deep product pipeline," said Dr. Mark Landy, President of MIV Therapeutics. "Given the exceptional response from CSI members, we believe that these products will become instrumental in the treatment of coronary heart disease around the world for many years to come."
Dr. Landy added, "The launch of these products provides MIVT an opportunity to develop strong relations with established distribution networks around the world as we prepare the market for the roll out our HAp-coated and polymer-free biocompatible drug-eluting stents and other associated interventional cardiology products."
The recently announced proposed Biosync Scientific acquisition is the latest step in MIVT's strategic plan to become a world leader in the $8 billion plus interventional cardiology market.
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.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.
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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