Miraculins Inc.

Miraculins Inc.

March 30, 2011 08:15 ET

Miraculins Appoints Pharmaceutical Executive David Howard to Board of Directors

WINNIPEG, MANITOBA--(Marketwire - March 30, 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 appointed experienced pharmaceutical executive Mr. David Howard to its Board of Directors.

David Howard is currently the Chairman of Angiotech (TSX:ANP)(NASDAQ:ANPI), a global specialty pharmaceutical and medical device company that discovers, develops, and markets innovative technologies and medical products. The Company's lead product, the TAXUS® drug-eluting coronary stent - which was co-developed with and is now sold by Boston Scientific Corporation - is implanted in over five million patients worldwide. Mr. Howard is also a director of Via Pharmaceuticals Inc., Bioasis Technologies Inc, and Methylation Sciences Inc.

Mr. Howard's distinguished career also includes leadership of SCOLR, Inc., a biopharmaceutical company located in Redmond, WA where he held the offices of CEO and Chairman of the Board. Prior to this, he served as President and Chief Operating Officer of Novopharm International Inc. , and President of both Novopharm USA, Inc. and Stanley Pharmaceuticals Inc. Mr. Howard's industry experience includes operational and strategic positions with Boehringer Mannheim Canada, where he was Vice President, Pharmaceuticals Division and Rhone-Poulenc Pharma, in Montreal and Paris, where he held critical positions in International Product Management, International Licensing & Agreements, and International Zone Management for the Nordic Region and SE Asia.

Mr. Howard is a graduate of the University of Saskatchewan and the Rotman School of Management and the Sauder School of Business in their Director education Programs.

"We are pleased with David's acceptance of our invitation to join the Miraculins Board of Directors, bringing with him a depth of experience in technology development, commercialization, partnering and governance", commented Dr. Albert Friesen, Chairman of Miraculins Inc. "His guidance will be of great importance to Miraculins as we continue our growth phase, and work towards the commercialization of our medical device programs." 

Upon his appointment to the Board of Directors, Miraculins has granted 100,000 stock options to Mr. Howard with an exercise price of $0.10 per common share. The options are set to expire five years from the date of grant and are subject to TSX Venture Exchange acceptance and the terms of Miraculins' stock option plan. 

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, distributed by GenWay Biotech; 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

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.

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