SOURCE: MIV Therapeutics, Inc.

February 25, 2008 08:00 ET

MIV Therapeutics Receives 2008 Frost & Sullivan North America Award for Technology Innovation

ATLANTA, GA--(Marketwire - February 25, 2008) - MIV Therapeutics, Inc. (OTCBB: MIVT) (FRANKFURT: MIV), a leading developer of next-generation coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, today announced that the company received the Frost & Sullivan 2008 North America Technology Innovation Award in the field of interventional cardiology. Frost & Sullivan will present the award to Dr. Mark Landy, president and chief executive officer of MIV, at the 2008 Excellence in Medical Technologies & Life Sciences Awards Banquet on Wednesday, March 12, 2008 at the Hyatt Fisherman's Wharf in San Francisco.

"MIV Therapeutics has innovatively leveraged a polymer-free approach to tackle the present day limitations of first- and second-generation stents to develop a product characterized by excellent biocompatibility, flexibility, and optimal drug delivery," notes Pramodh Ishwarakrishnan, the Frost & Sullivan analyst who nominated MIV Therapeutics for the award.

"MIV Therapeutics is honored to receive this recognition from Frost & Sullivan for the advancements we are making in interventional cardiology," commented Dr. Landy. "The award acknowledges the importance of the future of advanced biocompatible coatings for drug-eluting applications using hydroxyapatite (HAp) on cardiovascular stents, as well as for a broad range of other implantable medical devices," Dr. Landy added.

About The Award

According to Frost & Sullivan, to identify the award recipient its analyst team tracks innovation in key hi-tech markets. The selection process includes primary participant interviews and extensive primary and secondary research via the bottom-up approach. The analyst team shortlists candidates on the basis of a set of qualitative and quantitative measurements. The analysts also consider the pace of research and technology innovation, and the significance or potential relevance of the innovation to the overall industry. The ultimate award recipient is chosen after a thorough evaluation of this research.

In addition to the methodology described above, there are specific criteria used to determine the final selection. The recipient of this award has excelled based on one or more of the following criteria:

--  Significance of the innovation(s) in the industry
--  Potential of the products of innovation(s) to become industry
--  Competitive advantage of innovation vis-à-vis other related
--  Impact (or potential impact) of innovation(s) on company or industry
    mind share and/or company bottom line
--  Breadth of intellectual property related to the innovation(s), that
    is, patents, scientific publications, and papers in peer-reviewed journals.

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

About Frost & Sullivan

Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnerships, visit

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this press release 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, the closing of the Share Purchase Agreement, the ability of the Company to raise sufficient funding and to continue to develop its various business interests as presently contemplated. See the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's recent Form 10-K and Form 10-Qs, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

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