Miraculins Inc.

Miraculins Inc.

November 01, 2006 09:03 ET

Miraculins Appoints FDA Consultants Hogan & Hartson

WINNIPEG, MANITOBA--(CCNMatthews - Nov. 1, 2006) - Miraculins Inc. (TSX VENTURE:MOM), a biotechnology company, dedicated to the discovery and validation of cancer biomarkers for use in developing diagnostic tools and therapeutic products, is pleased to announce that it has appointed the international law firm Hogan & Hartson of Washington DC, to provide legal and strategic advice concerning the FDA approval process for the Company's prostate cancer diagnostic product.

"This is a very important step for Miraculins as we continue to develop our test and prepare it for commercial licensing", said Dr. Jim Charlton, President of Miraculins. "We are retaining Hogan & Hartson based on the strong belief that we are developing a product that will have a far reaching positive impact on the millions of men worldwide who are undergoing unnecessary prostate cancer biopsies".

Miraculins has had initial communication with the FDA, and now appoints Hogan & Hartson in recognition of the advancing state of the Company's diagnostic test. Further, the Company is now finalizing the preferred sales and distribution strategy for its prostate cancer test.

"We have designed our current studies based on preliminary discussions with the FDA, which means the results could be used to form part of a submission for regulatory approval and to accelerate the process", said Charlton.

"We are very pleased to be providing Miraculins with our counsel", said Howard Holstein, the lead attorney for Hogan & Hartson and former associate chief counsel for the FDA. "We have a significant amount of experience helping clients successfully navigate through the FDA approval process for in-vitro diagnostic tests. We look forward to sharing our expertise and supporting Miraculins' commercial development."

About Hogan & Hartson

Hogan & Hartson is an international law firm with over 1,000 lawyers, 23 offices worldwide and a well established pharmaceutical and biotechnology practice specializing in regulatory affairs. They advise on products that range from traditional new drugs to biotechnology products, including controlled substances, tissue and cellular therapies, and innovative combination products. An intimate knowledge of the industry along with government standards and practices provides their clients with unmatched resources for their product development, regulatory approval, and marketing needs.

About Prostate Cancer

Prostate cancer is responsible for greater than 240,000 new cancer diagnoses in North America each year. The current screening standard for prostate cancer, PSA, is ineffective at reliably distinguishing between non-life threatening prostate conditions and critical prostate cancer. There are greater than 25 million PSA tests performed annually in the United States alone, resulting in one million prostate biopsy procedures. 75% of these biopsies produce negative test results, which could be avoidable if an improved diagnostic technique was available.

About Miraculins

Miraculins is discovering, validating and developing biological markers (biomarkers) with clinical relevance for the diagnosis and treatment of cancers with critical unmet needs. The medical community is in need of markers that can reliably show the presence of cancer. The importance of tumor biomarkers for "common" cancers has been widely recognized and acknowledged by cancer experts and leading groups such as the National Cancer Institute and the American Cancer Society.

Certain information contained in this press release may be forward-looking and is subject to risks and uncertainties. Although the Company believes that the expectations contained herein are reasonable, it can give no assurances such forward-looking statements will prove correct. Information is provided from sources deemed to be reliable.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

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