Duravest, Inc.

Duravest, Inc.

July 14, 2005 13:19 ET

Estracure Signs Licensing Agreement for Use of MediVas Exclusive Drug Delivery Technology for Development of Next Generation of Drug Eluting Stents

MONTREAL--(CCNMatthews - Jul 14, 2005) -

Dr. Marc Lussier, Chief Executive Officer of Estracure, Inc., a subsidiary of Duravest, Inc., a publicly traded holding company (OTC BB: DUVT, XETRA: DUV) and Kenneth Carpenter, President and CEO of San Diego based MediVas LLC, announced today the signing of an agreement for the exclusive use of the MediVas PEA drug delivery technology in conjunction with Estracure's core technology to develop a 17-(beta)-Estradiol drug-eluting stent (DES) to treat patients suffering from coronary heart diseases.

The development of DES has recently emerged since vascular stenting became prevalent, especially in the U.S. and in Europe. Latest clinical research findings indicate that DES reduce the need for repeat percutaneous transluminal coronary angioplasty (PTCA) due to restenosis, a renarrowing of the widened coronary segment within about six months of the procedure. The market for drug eluting stents has shown great expansion since its inception and worldwide sales are now estimated at $5 billion. There are, however, issues of in-stent thrombosis and in-stent restenosis that need to be addressed in regards to the potent compounds DES now on the market deliver directly to arterial segments.

Estracure is a biopharmaceutical company whose mission is to develop and commercialize novel and safe therapeutic products to improve the treatment and clinical outcomes of patients suffering from coronary heart disease, mainly restenosis and vulnerable plaque. Estracure, founded by cardiologist Jean-Francois Tanguay who acts as President and Chief Scientific Officer of the company, is a spin-off of the Montreal Heart Institute (MHI), an internationally recognized cardiovascular health care center affiliated with the University of Montreal.

Estracure is presently completing a Phase II clinical trial which aimed at evaluating the efficacy of 17-(beta)-estradiol in preventing restenosis in patients following PTCA and stent implantation. Contrary to other anti-restenosis drugs, 17-B-Estradiol is a non-toxic, naturally occurring hormone that has been shown by Estracure's scientific team to have dual beneficial effect in improving vascular healing and preventing restenosis after angioplasty in preclinical studies.

MediVas LLC is the leading developer of second generation reabsorbable drug delivery platforms. MediVas polymers are made from amino acids which make them highly biocompatible. The polymers have excellent hemocompatibility and provide controlled drug release over sustained periods, making them ideally suited for drug delivery applications such as drug eluting coronary stents.

"We are pleased to provide Estracure with our drug delivery technology," said Kenneth Carpenter. "Estracure has developed a novel therapeutic that holds great promise for a new generation of drug eluting stents. We look forward to working with them to ensure the success of this exciting new product."

Dr. Lussier concluded, "Based on the many demonstrated pro-healing advantages of 17-(beta)-Estradiol combined with the unique technology developed by MediVas, we anticipate reaching a ten percent market share in three to five years in combination with the right partner who has the ability to commercialize the DES we are developing."

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This release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and my be forward looking statements based on estimates and involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.

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