Miraculins Inc.

Miraculins Inc.

December 13, 2006 09:03 ET

Miraculins Withdraws Offer to Combine with IBEX Technologies Inc.

WINNIPEG, MANITOBA--(CCNMatthews - Dec. 13, 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, announced today that it does not intend to formalize its offer to combine with IBEX Technologies Inc.

"We believe that a 65% premium on IBEX shares was a fair and reasonable offer" said Dr. Jim Charlton, President of Miraculins Inc. "We were disappointed with the response received from IBEX's Board of Directors and have made the decision not to proceed with formalization of the offer at this time."

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.

This press release contains forward-looking statements. All statements, other than statements of historical fact, included herein are forward-looking statements that involve risks and uncertainties. There can be no assurances that such statements will prove to be accurate, and actual results in future events could differ materially from those anticipated in such statements. Important factors that could cause actual statements to differ materially from Miraculins' expectations are disclosed in those documents filed from time-to-time with applicable securities regulatory authorities in Canada.

Readers are cautioned not to rely on these forward-looking statements. Miraculins does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise except as required by law.

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

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