Miraculins Inc.

Miraculins Inc.

December 04, 2007 09:05 ET

Miraculins Retains Diagnos for Artificial Intelligence and Data Mining Technology

WINNIPEG, MANITOBA--(Marketwire - Dec. 4, 2007) - Miraculins Inc. (TSX VENTURE:MOM), a biotechnology company dedicated to the discovery and development of diagnostic tools and therapeutic products for cancer, is pleased to announce that it has reached an agreement with Diagnos Inc.(TSX VENTURE:ADK), a leader in the use of artificial intelligence (AI) and advanced knowledge extraction techniques, to provide services towards the development of Miraculins' cancer diagnostic discovery programs.

Diagnos will add to Miraculins' in-house expertise in interpreting the data that is generated during the biomarker discovery and validation process. Diagnos will leverage its proprietary technology to develop and test multiple algorithms with the objective of producing a diagnostic test with the highest possible sensitivity and specificity, resulting in fewer false positives and false negatives.

"Biomarker discovery research is a complicated process, especially when a large number of markers are found to be potential indicators of a disease," said Christopher J. Moreau president and CEO of Miraculins. "Quite often there is a relationship not only with the suppression or over expression of a marker but how multiple markers relate and interact with each other in forming a panel test. Being able to utilize the most sophisticated algorithms and data mining techniques will provide us with a significant capability to not only discover meaningful biomarkers but to better understand how we can use the data generated to build more efficient models to better predict disease".

"I am confident and excited about the application of our company's technology to the field of bio-diagnostics", said Mr. Andre Larente, President of Diagnos. "Our technology has been designed to accommodate the type of complex information that Miraculins is working with and I believe strongly that it will be of great value to the organization. The Diagnos team of specialists has always wanted to participate in the field of Cancer Research because we believe that our technology can help identify, in the early stages, some of the key elements the industry needs to track. Using advanced data mining and artificial intelligence to analyze existing data from patients, we can learn to identify the key invariants required for predicting some of these diseases."

The highlights of the agreement are:

- Miraculins will pay Diagnos a consulting fee up to a maximum of $30,000 to review data and develop algorithms for its biomarkers discovery program, 50% of which will be paid in cash and 50% will be paid in shares of Miraculins issued once the work is completed.

- Should Diagnos develop an algorithm for a diagnostic test that is used by Miraculins, Diagnos will receive a royalty of 5% of the actual gross commercial sales received by Miraculins per test, and in addition, Diagnos will also be granted 50,000 options, subject to regulatory approval. The exercise price of the options will be at the closing market price of Miraculins' shares on the date of grant.

About Miraculins Inc.

Miraculins is discovering, validating and developing biological markers (biomarkers) with clinical relevance for the diagnosis and treatment of cancers with critical unmet needs. 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. The Company's BEST™ Platform utilizes the concurrent analysis of clinical factors and biological data, and a combination of proteomic, mass spectrometric, and protein chemistry techniques for biomarker discovery.

About Diagnos Inc.

DIAGNOS inc. has developed data mining software and provides data mining services. The Corporation designed and developed MCubiX, a data mining software suite capable of extracting knowledge from historical data - in the form of images, text or traditional databases - and making predictions that improve business processes and decision making ability. For further information, please visit our website at www.diagnos.ca. The Corporation's objective is to develop a royalty stream by significantly enhancing and participating in the creation on new applications for medical, financial and mining and oil and gas markets.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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