Miraculins Inc.

Miraculins Inc.

October 04, 2010 11:22 ET

Miraculins Announces Appointment of New Executive Team Members

WINNIPEG, MANITOBA--(Marketwire - Oct. 4, 2010) - Miraculins Inc. (TSX VENTURE:MOM), a medical diagnostic company focused on developing and commercializing diagnostic tests for unmet clinical needs is pleased to announce that it has appointed Mr. Paul Moreau to the position of vice president, sales and marketing and Mr. Michael Coutts to the position of director, business development.

Mr. Moreau brings 26 years of diverse marketing, sales, business development, funding, investor relations, client relations, communications and operations management experience to Miraculins, having held senior executive positions in both the private and public sector. Highlights include his extensive work in the wealth management industry where as vice president with Loring Ward International Ltd. and Assante Asset Management Ltd. (he also worked with Loring Ward Investment Counsel Ltd. and Investors Group), he managed the marketing and client development needs of over 1,500 financial advisors across Canada and the U.S. Most recently he was the head of business development for the National Screen Institute, Canada's prestigious and oldest national training institution for writers, directors and producers working in film, television and digital media. Mr. Moreau's primary focus with Miraculins will be the development and management of all marketing, sales and distribution programs for the PREVU* Skin Cholesterol Test.

Mr. Coutts comes to Miraculins after providing services to the Company for the last 8 years as director, business development for Genesys Venture Inc., a company that provides management services to Miraculins. Mr. Coutts was a key team member in the transition to Miraculins' new business model and was responsible for the identification and in-licensing of Miraculins' preeclampsia technology from The Samuel Lunenfeld Research Institute of Mount Sinai Hospital in Toronto. Mr. Coutts also played a critical role in Miraculins' subsequent partnership with Alere, Inc. (formerly Inverness Medical Innovations) and the recent acquisition of the PREVU Skin Cholesterol Test. Mr. Coutts' responsibilities in his new role will be to maintain the Company's current key relationships as well as to help advance the Company's business model.

About Miraculins Inc.

Miraculins is a medical diagnostic development company focused on non-invasive tests for unmet clinical needs. Miraculins is bridging the gap between commercially available diagnostic tests and research conducted at leading research institutions around the world. The Company's recently acquired the PREVU* Skin Cholesterol Test, a non-invasive, rapid and painless product for cardiovascular risk assessment, has been cleared for sale by the FDA, Health Canada and CE- marked for sale in Europe. PREVU* has been successfully test marketed in North America. Additionally, the Company's preeclampsia program, a suite of biomarkers for the devastating disease of pregnancy called preeclampsia, is partnered with Alere, Inc. (NYSE:ALR) (formerly known as Inverness Medical Innovations), one of the world's largest diagnostic companies. For more information on Miraculins please visit www.miraculins.com

Caution Regarding Forward-Looking Information.

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"), such as statements regarding the closing of the transaction. These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

These statements reflect management's current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: the satisfaction of all of the closing conditions of the transaction, Miraculins' early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in Miraculins' filings with Canadian securities regulatory authorities, as well as Miraculins' ability to anticipate and manage the risks associated with the foregoing. Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found in the body of this news release. Miraculins cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on Miraculins' forward-looking statements to make decisions with respect to Miraculins investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Miraculins cannot provide assurance that actual results will be consistent with these forward-looking statements. Miraculins undertakes no obligation to update or revise any forward-looking statement.

(*) Trademark

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Company Contact:
    Miraculins Inc., Christopher J. Moreau
    President and CEO
    204-453-1546 (FAX)
    Investor Relations Contact:
    CHF Investor Relations, Neil Murray-Lyon
    Senior Account Manager
    Investor Relations Contact:
    CHF Investor Relations, Alison Tullis
    Senior Account Manager
    416-868-1079 x233
    416-868-6198 (FAX)