Miraculins Inc.

Miraculins Inc.

October 11, 2012 07:00 ET

Miraculins Announces Details of London Drugs PreVu® Launch

Eleven Stores to Allow Greater Consumer Access to New Skin Cholesterol Test

WINNIPEG, MANITOBA--(Marketwire - Oct. 11, 2012) - Miraculins Inc. (TSX VENTURE:MOM), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs; London Drugs, one of Canada's leading pharmacy chains; and Pear Healthcare Solutions, a leading provider of in-pharmacy health screening and educational services, today announce further details surrounding the retail pharmacy launch of the PreVu® Non-Invasive Skin Cholesterol Point of Care (POC) Test in London Drugs locations in Western Canada this fall.

"We are pleased to confirm that we will be launching the PreVu® POC Test in eleven of our stores, with ten being located in Vancouver and the Lower Mainland, and another store now being added in Winnipeg," said John Tse, Vice President, Pharmacy for London Drugs. "This includes our prestigious, brand new Olympic Village store, which is located in the previous home of the Canadian National Olympic Committee and the Athletes' Multimedia Centre for the 2010 Vancouver Olympic Winter Games." (A complete list of participating stores follows.)

The dates for the launch program will be Monday, October 29th with 6 of the stores participating, and Thursday, November 1st with the remaining 5 stores participating. Customers can call their pharmacists or visit participating stores to book an appointment. The PreVu POC Test will be made available for a special introductory price of $19.99 and will be performed in-store by London Drugs pharmacists. The test can be conducted in less than 5 minutes, with the results being readily available for a next-steps discussion.

"Since announcing the launch, London Drugs, Pear Healthcare and Miraculins team members have been working diligently to prepare for this important commercial introduction of PreVu® in Canada," said Paul Moreau, Vice President, Sales and Marketing for Miraculins Inc. "The launch will be pre-promoted in the regions through in-store and community advertising and public relations. Additionally, we are reaching out to doctors with a special information package being sent to over 3,600 physicians in advance so they can review the PreVu science and technology prior to the London Drugs premiere."

It is anticipated that many members of the general public, and especially those who experience the PreVu test in-store, will want to talk to their healthcare provider about the test and their heart health overall, and an elevated awareness throughout the launch communities is intended to help facilitate such conversations. Based upon a patient's PreVu test results, additional risk assessment under their healthcare provider's direction may also be warranted, or should be considered. The PreVu POC Test does not diagnose coronary artery disease (CAD), but without blood draw or fasting it can quickly identify individuals who may possess hidden, higher levels of risk of CAD by measuring their skin cholesterol levels. Clinical studies have shown that elevated skin cholesterol is strongly associated with serious atherosclerotic disease*.

Following the launch, London Drugs will have an option to expand the PreVu POC Test into all 75 London Drugs stores. London Drugs operations extend from British Columbia to Manitoba, and the subsequent introduction of PreVu throughout its full network of stores - anticipated to begin in early 2013 - would be associated with a period of market exclusivity for London Drugs in delivering the technology through its retail pharmacy platform into the Western Canadian marketplace.

PreVu® Launch - Participating London Drugs Stores

Monday, October 29th Thursday, November 1st
North Vancouver - North Vancouver Store West Vancouver - Park Royal North Store
2032 Lonsdale Avenue 875 Park Royal North
North Vancouver, British Columbia West Vancouver, British Columbia
Ph. 604.448.4805 Ph. 604.926.9616
Vancouver - Broadway & Vine Store Vancouver - West Broadway Store
2230 West Broadway 525 West Broadway
Vancouver, British Columbia Vancouver, British Columbia
Ph. 604.742.6000 Ph. 604.872.5177
Vancouver - Granville & Georgia Store Vancouver - Olympic Village Store
710 Granville Street 1622 Salt Street
Vancouver, British Columbia Vancouver, British Columbia
Ph. 604.685.5292 Ph. 604.707.2030
Burnaby - Brentwood Town Centre Store Vancouver - Kerrisdale Store
400 - 4567 Lougheed Highway 2091 W 42nd Avenue
Burnaby, British Columbia Vancouver, British Columbia
Ph. 604.570.0252 Ph. 604.263.1811
Burnaby - Lougheed Town Centre Store Burnaby - Kingsway Plaza Store
101 - 9855 Austin Avenue 4970 Kingsway Avenue
Burnaby, British Columbia Burnaby, British Columbia
Ph. 604.444.2222 Ph. 604.437.9621
Winnipeg - St. Vital Store
#23C - 1225 St. Mary's Road
Winnipeg, Manitoba
Ph. 204.253.2696

*PreVu clinical study references can be sourced at www.prevu.com.

About The PreVu® Non-Invasive Skin Cholesterol Test

The PreVu® Point of Care (POC) Test is a non-invasive, risk assessment technology designed to measure Skin Cholesterol - an important new biomarker in assessing risk of coronary artery disease (CAD). The PreVu® POC Test is completely painless, non-invasive, involves no blood draw or needles, and requires no overnight fasting. This in vitro diagnostic test is conducted on the palm of the hand in less than 5 minutes with results being immediately available, facilitating point of care consultation and a next steps discussion. Skin Cholesterol is the cholesterol that has been deposited and diffused into tissue, as opposed to freely circulating in the bloodstream, and the skin contains approximately 11% of all the cholesterol found in the human body. Elevated Skin Cholesterol has been shown in clinical studies to be strongly associated with significant CAD as measured by treadmill stress testing and coronary angiography, as well as measured by testing for coronary calcium, carotid artery thickening, and carotid artery plaque. The PreVu POC Test does not diagnose the presence or absence of CAD, but helps to identify patients who may be at higher, hidden risk for CAD by measuring this new biomarker. For more information visit www.prevu.com.

About Miraculins Inc.

Miraculins is a medical diagnostic company focused on acquiring, developing and commercializing non-invasive tests for unmet clinical needs. A significant number of promising diagnostic opportunities remain un-commercialized because of the sizable gap between the discovery stage, when research institutions are typically involved, and the commercialization stage, when the larger commercial enterprises become interested. Miraculins has direct experience in bridging this gap. The Company's PreVu® technology is a revolutionary new coronary artery disease risk assessment technology that measures cholesterol levels in a patient's skin non-invasively, painlessly and without the need for fasting. Miraculins is also advancing a suite of biomarkers to aid in the early detection of the devastating disease of pregnancy known as preeclampsia. The Company's preeclampsia program is partnered with Alere Inc., one of the world's largest diagnostic companies. For more information visit www.miraculins.com.

About London Drugs

Founded in 1945, B.C.-based London Drugs has 76 stores in more than 35 major markets throughout British Columbia, Alberta, Saskatchewan and Manitoba, including its online store www.londondrugs.com. London Drugs offers consumers a range of products from digital cameras and cosmetics to computers and televisions. Renowned for its creative approach to retailing, the company employs more than 7,500 people with pharmacy and health care services being the heart of its business. Committed to innovation and superior customer service, London Drugs has established itself as a reputable and caring company and continues to position itself for future growth and development.

About Pear Healthcare Solutions

Pear Healthcare Solutions is a privately held company specializing in the development and implementation of programs to address the evolving needs of pharmacists in their expanding role of providing healthcare and disease management services. Pear Healthcare Solutions offers a number of innovative medical devices and professional education programs that help pharmacies connect with their patients, improving their health and wellness. Pear provides distribution, training and support/education services. For more information visit www.pearhealthcare.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"). 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: 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.

PreVu® is a registered trademark of Miraculins Inc. All Rights Reserved. 2012.

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

  • Miraculins Inc.
    Paul Moreau
    Vice President, Sales & Marketing
    204-453-1546 (FAX)

    Miraculins Inc.
    Christopher J. Moreau
    President and CEO
    204-453-1546 (FAX)