Miraculins Inc.

Miraculins Inc.

August 16, 2013 06:30 ET

Miraculins Re-Appoints Pear Healthcare Solutions to Distribute Scout DS® to Canadian Retail Pharmacy/Grocery Market

WINNIPEG, MANITOBA--(Marketwired - Aug. 16, 2013) - Miraculins Inc. (TSX VENTURE:MOM), ("Miraculins" or the "Company") a medical diagnostic company focused on acquiring, developing and commercializing diagnostic and risk assessment technologies for unmet clinical needs, announces today that it has re-appointed Pear Healthcare Solutions Inc. ("Pear"), a leading provider of in-pharmacy health screening and education services, as the distributor for the SCOUT DS® Non-Invasive Diabetes Test Technology to the Canadian retail pharmacy/grocery market. Pear is also the Company's Canadian distributor for the PreVu® Non-Invasive Skin Cholesterol Point-of-Care (POC) Test to the same market segment.

Prior to Miraculins' acquisition of the SCOUT DS®, Pear was appointed as Canadian distributor for the technology by VeraLight, Inc. (its previous owner) and had successfully established pilots for this ground-breaking, non-invasive diabetes test. These included localized trials with national and regional brand pharmacy/grocery retailers including Zellers, Costco, Rexall, and PharmaSave. In addition, Pear has designed a comprehensive CE Module (Continuing Education) on non-invasive diabetes testing, which has been recognized by the Canadian Pharmacists Association as accredited programming, and has also developed a special preparatory program to ready pharmacists prior to their taking the Certified Diabetes Educator exam. These programs are offered through Pear's Health eLearning initiative and online learning portal, which allows pharmacists to conveniently participate in accredited CEs on such topics as cardiovascular disease, diabetes and osteoporosis. As a result, Pear's commitment to national diabetes education and preventive testing has been significant and unparalleled among service providers to the industry.

"Pear has provided excellent representation for Miraculins in establishing select pilots for PreVu®, and has clearly demonstrated its ability to do the same for the SCOUT DS® in the Canadian retail pharmacy sector," said Paul Moreau, Vice President, Sales and Marketing of Miraculins Inc. "As we move forward with our piloting and beyond, we are confident Pear has the industry relationships and segment expertise necessary to build broader distribution for our non-invasive testing technologies."

"Based on the positive responses we have received during the pilots from both retailers and consumers, we are excited about the potential for national distribution of these non-invasive technologies, and we look forward to continuing to work in partnership with Miraculins towards achieving this goal," said Mark Doyle, Vice President of Sales and Marketing for Pear Healthcare Solutions Inc.

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.

About Miraculins Inc.

Miraculins is a medical diagnostic company focused on acquiring, developing and commercializing non-invasive technologies 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. The Company's SCOUT DS® system, is the first non-invasive diabetes screening system designed to provide a highly sensitive and convenient method for screening for pre-diabetes and type 2 diabetes based on the presence of diabetes-related biomarkers found in skin. Unlike current screening methods, a SCOUT DS® test requires no blood draw, no fasting, and no waiting for a lab result. The product has been used and validated in thousands of patients around the world. 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.

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.

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® and SCOUT DS® are registered trademarks of Miraculins Inc. All Rights Reserved. 2013.

Contact Information

  • Miraculins Inc.
    Paul Moreau
    Vice President, Sales and Marketing
    204-453-1596 (FAX)

    Miraculins Inc.
    Christopher J. Moreau
    President & CEO
    204-453-1596 (FAX)