Healthcare Industry News: drug-eluting stent
News Release - May 31, 2007
MIV Therapeutics Announces Start of Clinical Trial Marking First Ever Human Implantation of a Hydroxyapatite Coated StentTrial to Study Safety and Efficacy of One of the Company's Proprietary Polymer-Free drug-eluting stent Technologies
ATLANTA--(HSMN NewsFeed)--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, today announced the first ever human implantation of a hydroxyapatite coated stent and the launch of the MIVT Pilot Trial.
The MIVT Pilot Trial will evaluate the safety and efficacy of MIVT's polymer-free nanoscale microporous hydroxyapatite drug-eluting stent for the treatment of single de novo lesions in native coronary arteries.
The first procedure was conducted by Dr. Alexandre Abizaid of Institute Dante Pazzanese of Cardiology in Sao Paulo, Brazil. Dr. Abizaid and Institute Dante Pazzanese of Cardiology are among the world's foremost experts in conducting clinical trials researching both new and existing drug-eluting stents.
The beginning of human implantation represents the culmination of extensive research and development and a successful animal trial program. 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.
"We are very pleased to announce that our human trials are underway in-line with our previous guidance," said Dr. Mark Landy, President of MIV Therapeutics. "We have worked diligently to create a new, novel technology that we expect will be an excellent alternative for millions of patients around the world suffering from coronary artery disease.
MIV Therapeutics is focused on commercializing the next generation of fully biocompatible coatings for cardiovascular stents and drug delivery systems to treat coronary artery disease, an estimated $6 billion worldwide market. The company's technologies are expected to offer a safer alternative to current drug-eluting stents and hope to solve the issues of late thrombosis.
MIVT's polymer-free nanoscale microporous hydroxyapatite drug-eluting stent uses the Company's GenX coronary stent system. The GenX stent is coated with one of MIVT's proprietary hydroxyapatite polymer-free drug eluting systems that is 700 nanometers thin.
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 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. MIVT's intellectual property portfolio includes patents held by the University of British Columbia (UBC). MIVT has worldwide exclusive rights to the technologies licensed from UBC. Key patent applications filed simultaneously in various countries around the world, further protect the commercial exclusivity of MIVT's own inventions in the global marketplace. For more information please visit www.MIVTherapeutics.com.
For investor 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 "proposed," "expected," "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 including, without limitation, the potential for the unsuccessful closing by the Company of its Vascore acquisition, together with the raising of funding sufficient to continue with its operations and those contemplated by the Company as a consequence thereof, and the ability of the Company to raise sufficient funding and to continue to develop its various business interests as presently contemplated. 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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