Miraculins Inc.

Miraculins Inc.

September 22, 2011 08:00 ET

Miraculins Announces Thermo Fisher Scientific as Key Manufacturing Partner

WINNIPEG, MANITOBA--(Marketwire - Sept. 22, 2011) - Miraculins Inc. (TSX VENTURE:MOM), a medical diagnostic company focused on developing and commercializing diagnostic tests and risk assessment tools for unmet clinical needs is pleased to announce that it has completed an Exclusive Manufacturing and Supply Agreement with Thermo Fisher Scientific Inc., the world leader in serving science. Under the agreement, Thermo Fisher will supply the PreVu* Non-Invasive Skin Cholesterol Test reagents and testing kits.

The parties have outlined a three-stage technical process ending with the production of commercial reagent kits for distribution to customers. Miraculins is pleased to report that the first stage of that process has successfully been completed, and production is progressing efficiently towards commercially available product.

PreVu is a non-invasive risk assessment technology that evaluates the additional risk a person may have for coronary artery disease (CAD) by conveniently and painlessly testing their skin cholesterol level. High levels of skin cholesterol have been shown to be correlated to CAD as measured by stress test, angiography, coronary calcium, and carotid intima-media thickness, inflammatory markers of vascular disease, previous heart attack incidents and Framingham risk score.

Thermo Fisher previously manufactured PreVu reagents and test kits when the technology's former owner first test marketed the products. Now, Thermo Fisher will be responsible for the manufacturing and assembly of PreVu Point of Care (POC) test kits and the supply of reagents for the PreVu Lab Processed (LP) Test. The PreVu LP test is being developed in partnership with Gamma-Dynacare Medical Laboratories, one of Canada's largest and most respected providers of laboratory services.

"We are very pleased to once again be a key manufacturing partner for the PreVu test," said Kathy Napier, divisional director, business development for Thermo Fisher's clinical diagnostics business. "We have been impressed by Miraculins' vision, the potential of this technology and the commitment of their team to bring it to market."

"With Thermo Fisher as our manufacturing partner, we truly have a world-class organization attending to the critical manufacturing and supply of our test kits", stated Christopher Moreau, President & CEO of Miraculins Inc. "As Miraculins continues to execute its plan to bring the PreVu technology to market, our relationships with companies like Thermo Fisher reflect the high standards we are committed to in the commercialization of this revolutionary new coronary artery disease risk assessment technology."

About Miraculins Inc.

Miraculins is a medical diagnostic development company focused on acquiring and advancing non-invasive tests for unmet clinical needs. The Company's PreVu test is a revolutionary new coronary artery disease (CAD) risk assessment technology that measures cholesterol levels in a patient's skin non-invasively, painlessly and without the need for fasting. PreVu has previously been successfully test marketed in North America on a limited basis. Miraculins additional programs include a research use only ELISA kit for the detection of PSP94; and 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 being advanced in partnership 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. PreVu Non-Invasive Cholesterol Test technology is not currently licensed for sale in Canada.

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.

(*) Trademark

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