SOURCE: MIV Therapeutics, Inc.

June 06, 2008 08:45 ET

MIV Therapeutics Featured in Scientific American Online

Article Discusses Company's Next Generation Drug-Eluting Stent

ATLANTA, GA--(Marketwire - June 6, 2008) - MIV Therapeutics, Inc. (OTCBB: MIVT) (www.mivtherapeutics.com), a leading developer of next-generation coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, was featured in Scientific American, a leading online science, health, and technology destination with more than 1,700,000 visitors per month.

The article by Larry Greenemeier, titled "Next-Gen Heart Stents May Feature Toothlike Coating," reviews MIV's VESTAsync™ drug-eluting stent, which is coated with hydroxyapatite, a ceramic like substance found in tooth enamel. The article explains how "…such devices are just as good as bare metal stents at keeping arteries open and less likely than polymer-coated stents -- which typically administer a drug to keep tissue growth at bay -- to contribute to blood clotting, irritation and inflammation."

The piece goes on to discuss the differences between MIV's drug-eluting stent and those currently in development or on the market. "We have developed a drug delivery system that can be used on stents and other implantable medical devices that is polymer-free and can administer medication to the local tissue to keep an artery from re-closing," the article quotes Dr. Mark Landy, President and Chief Executive Officer of MIV Therapeutics. "Patients who receive drug-coated polymer stents are generally required to take Plavix or another anticoagulant for at least a year after an angioplasty, in addition to the medicine dispensed by the stents. MIV's goal is to create a drug eluting stent with the safety profile and deliverability of a bare metal stent."

Based on excellent nine-month human safety and efficacy data reported in March at the American College of Cardiology meeting, the Company has accelerated its original timeline for the VESTASYNC II trial, which is designed to test the efficacy of the VESTAsync™ in a sufficient number of patients to form the basis of a regulatory filing for marketing approval in Europe. It is anticipated that these patient data will also be part of an eventual submission to the U.S. Food and Drug Administration.

"We are delighted to have our drug-eluting stent technology prominently featured in so venerable a news source as Scientific American," says Dr. Landy.

To view the complete Scientific American article, please visit the following link: http://www.sciam.com/article.cfm?id=next-gen-heart-stents.

About MIV Therapeutics

MIV Therapeutics is developing a next-generation line of advanced biocompatible coatings for passive and drug-eluting applications on cardiovascular stents, as well as for a broad range of other implantable medical devices. The Company's ultra-thin coating formulation is designed to protect surrounding tissue from potentially harmful interactions with bare metallic stents. This coating platform is derived from hydroxyapatite (HAp), an organic material that has demonstrated excellent in vivo safety and biocompatibility. Hydroxyapatite is a porous material that makes up the bone mineral and matrix of teeth, and is widely used today as a bone substitute material and for coatings on implantable fixation devices in orthopedic, dental and other applications. The Company's novel polymer-free drug-eluting technologies based on HAp could also provide an attractive alternative to current polymer-based drug-eluting coatings on the stent market, which have been associated with undesirable effects. The Company's drug-eluting coatings are additionally designed to suit a broad range of implantable medical devices that could benefit from highly customizable drug release profiles. MIV Therapeutics has a Collaborative Research Agreement with the University of British Columbia and has received a government grant for its research program on the "Development of Novel Drug Eluting Composite Coatings for Cardiovascular Stents," under the National Research Council-Industrial Research Assistance Program. Under this sponsorship, the Company is expected to complete its drug-eluting research and development program and to reach product commercialization. MIV's intellectual property portfolio includes patents held by the University of British Columbia and exclusively licensed to MIV. Key patent applications filed simultaneously in various countries around the world further protect the commercial exclusivity of MIV's inventions in the global marketplace. For more information, please visit www.mivtherapeutics.com.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. All statements that discuss expectations and projections with respect to future matters including, without limitation, statements relating to the safety and efficacy of the Company's product and the ability of the Company's product to rejuvenate the stent market are forward-looking statements. Such statements are indicated by words or phrases such as "proposed," "expected," "believe," "will," "breakthrough," "significant," "indicated," "feel," "revolutionary," "should," "ideal," "extremely" and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties including, without limitation, market acceptance of the Company's product, the ability of the Company to raise sufficient funding and to continue to develop its various business interests as presently contemplated, and other factors identified in the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's annual report on Form 10-K for the year ended May 31, 2007 and Forms 10-Q. The Company expressly disclaims any obligation to update publicly or otherwise revise these statements, whether as a result of new information, future events or otherwise, except to the extent required by law.

Contact Information

  • Contact:

    MIV Therapeutics, Inc.
    Investors:
    Anthony L. Huston
    604-301-9545 ext. 14
    Vice President, Business Development & Investor Relations
    ahuston@mivtherapeutics.com
    investor@mivtherapeutics.com

    or

    The Investor Relations Group
    Investor Relations:
    Rachel Colgate
    Adam Holdsworth
    Erica Ruderman
    212-825-3210

    or

    Media Relations:
    Laura Colontrelle
    Janet Vasquez
    212-825-3210