SOURCE: MIV Therapeutics, Inc.

September 27, 2007 02:00 ET

MIV Therapeutics Announces Research Collaboration With Smith & Nephew

ATLANTA, GA--(Marketwire - September 27, 2007) - MIV Therapeutics (OTCBB: MIVT) (FRANKFURT: MIV), a leading developer of next-generation coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, today announced a research collaboration with contributions in kind from both Smith & Nephew and MIV Therapeutics to develop new coatings and drug delivery systems for orthopedic devices.

"We are honored to be working with Smith & Nephew, an established market leader in orthopedics and look forward to a long and prosperous relationship," said Mark Landy, President of MIV Therapeutics. "We have worked diligently to develop a product pipeline with multiple applications in multiple therapeutic disciplines and this collaboration is proof thereof. We now have programs in cardiology and orthopedics, and will continue to evaluate additional opportunities in different therapeutics areas."

MIV Therapeutics' coatings and drug delivery systems are based on hydroxyapatite, a naturally occurring substance found in bones and teeth. Hydroxyapatite has been used safely for decades in the orthopedics market and its benefits are well documented and understood. In May 2007 MIV Therapeutics announced the first human implant of the Company's first hydroxyapatite based drug eluting stent.

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

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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 "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.

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