2008-07-16 06:30:00
ATLANTA–(EMWNews)–MIV Therapeutics, Inc. (OTCBB:MIVI) (Frankfurt:MIVN), a leading
developer of next-generation coatings and advanced drug-delivery systems
for cardiovascular stents and other implantable medical devices, today
announced that its ProteaTM ultra-thin
cobalt-alloy bare metal stent has excelled in animal studies. The Protea
is the Company’s next generation bare metal
stent with a strut thickness of 65 microns, a fixed geometry and uniform
cell size for homogeneous delivery of drug to the local tissue, and a
superior surface finish when compared to currently available cobalt
alloy stents.
Animal results showed that the Protea is statistically superior to one
of the best and most deliverable cobalt-alloy bare metal stents on the
market today. At one month following deployment, quantitative coronary
angiography (QCA) showed % diameter stenosis was significantly less for
Protea (2±5% vs. 17±16%,
p=0.032). By histomorphometry, intima thickness (0.11±0.05mm
vs. 0.23±0.11mm, p=0.003) and % area stenosis
(19±1% vs. 32±11%,
respectively, p=0.004) were also significantly lower for Protea. The
strut injury score was low and similar between the two groups. QCA %
stenosis; intima thickness; and % area stenosis of overlapping Protea
stents were 3±3%, 0.13±0.02mm,
and 22±4%, respectively. Stable fibrocellular
neointimal incorporation of all stents including overlapped Protea, with
complete endothelialization and minimal inflammation, was seen at one
month.
Mark Landy, president and chief executive officer of MIV Therapeutics
said, “Our progress in making the Protea a
stent platform for use as a bare metal stent and as a platform for
drug-eluting stents has been rapid. We are already using the Protea as
the bare metal stent platform for the VESTAsync drug eluting stent in
the VESTASYNC II trial. In addition to a superior surface finish due to
a proprietary finishing technique which we have developed and thinner
struts, the surface area of the Protea was designed to be the same as
that of the GenXTM which allows us to use the
same dose and drug delivery system for both stents. We are optimistic
that the Protea will prove to be an important part of the physician’s
armamentarium in the treatment of heart disease.”
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.”
Such statements include but are not limited to that the split is part of
a series of strategic moves to strengthen the Company’s
financial position for future growth and development. 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.
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For Investor Inquiries: L. Huston x14 & Associates, Inc. Media Inquiries: Fox/Cassie Wallace, 781-684-0770 |
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