Press Release Source: MIV Therapeutics, Inc.
MIV Therapeutics' Intellectual Property Portfolio Expands to 43 Patents, Patent Applications and Licenses on Novel Technologies
Monday September 26, 4:01 pm ET
Aggressive IP Protection of Coating Technologies Positions Company for Entry into $100 Billion Drug-Delivery Market
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 26, 2005--MIV Therapeutics, Inc. (OTCBB:MIVT - News; Frankfurt/FSE:MIV), a developer of next-generation biocompatible passive and drug-eluting stent coatings and drug delivery technologies for the treatment of cardiovascular disease, has announced that its intellectual property portfolio has achieved a total of 43 U.S. and international patents and patent applications. Aggressive steps taken to secure patent protection for the IP portfolio reflect the Company's vision and business strategy to generate significant revenues from its proprietary coating solutions, targeting the projected $100 billion dollar global marketplace for coronary stents and advanced drug-delivery systems.
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The Company's intellectual property portfolio includes patents held by the University of British Columbia (UBC) to which MIVT has exclusive commercial rights under a strategic alliance with the university. The latest count includes several key patent applications filed simultaneously in various countries around the world, further protecting commercial exclusivity of MIVT's inventions in the global marketplace. The patents from UBC involve MIVT's initial strategic thrust to commercialize a family of next-generation biocompatible coatings for stents and other medical devices based on a highly biocompatible material called Hydroxyapatite (HAp), which has been shown to be suitable for a broad array of applications as a coating for coronary stents and next-generation drug-elution/drug-delivery systems.
"The vigorous expansion and the aggressive protection of intellectual property portfolio is a central element of MIVT's high-growth business strategy. Continued growth of our family of patents, licenses and patent applications reflects methodical pursuit of important milestones of our corporate progress," said Alan Lindsay, Chairman and CEO of MIVT. "Our HAp-based coatings and composite drug delivery technologies have a number of potential broad applications in cardiovascular and non-vascular drug/device combination products. Our goal is to continue to develop innovative solutions needed in our target markets and to diversify our portfolio of solutions to capitalize on applications that can access the $100 billion market of combination implantable drug delivery systems."
Mr. Lindsay added, "The market for drug-eluting stents is one of the fastest growing segments within the medical device arena, with annual growth approaching 25%, and there is a critical need for next-generation technologies and solutions to enhance the performance and safety of devices, while providing competitive advantages to medical device manufacturers."
In addition to its advanced research and development programs, the Company is also expanding its intellectual property portfolio through acquisitions. Earlier this year, MIVT grew its IP portfolio through acquisition of SagaX, a company developing a range of proprietary solutions to prevent naturally occurring cardio-embolic strokes and strokes and other common and serious complications that can result from cardiac procedures. These technologies include an innovative proprietary Aortic Embolic Protection Device (AEPD),designed to be implanted in the aorta during cardiology surgery and procedures, to filter and/or deflect embolic particles that can cause seriously debilitating or fatal strokes if left in blood circulation. The unique AEPD technology being developed at MIVT's SagaX subsidiary is one of the latest innovations in the field of filter-based embolic protection devices. It is the only filter being developed for use in the aorta. SagaX is also developing other proprietary embolic protection technologies.
The global market for carotid stents and embolic filters, which are frequently implanted in combination with each other for stroke prevention purposes, is growing around the world. Currently, the global market for these devices is estimated at $130 million, but analysts forecast that such devices will grow into a $500 million to $1 billion segment of the stent market, according to published reports.
About MIV Therapeutics, Inc.
MIV Therapeutics, Inc. is developing a next-generation line of advanced biocompatible coatings for passive and drug-eluting application on cardiovascular stents and for application on other implantable medical devices. The Company's unique ultra-thin coatings, as well as its drug-eluting coatings, are based on a ceramic material called hydroxyapatite (HAp), a bioactive porous material that makes up the bone mineral and matrix of teeth and is widely used as a bone substitute material and for coating implantable fixation devices in orthopedic, dental and other applications. During in-vivo animal trials HAp has demonstrated exceptional biocompatibility and excellent safety pursued by the science in the field of advanced implantable drug delivery systems. The Company's ultra-thin coating formulation is designed primarily to protect surrounding tissue from the chemical interaction with metal stents. The Company's novel drug eluting technologies are designed to provide an advanced alternative solution to polymer-based drug eluting coatings currently in the stent market. The Company's composite drug eluting coating technologies are designed to suit a broad range of implantable medical devices which may benefit from a highly customizable drug release profile. MIVT reached a Collaborative Research Agreement (CRA) with the University of British Columbia and supported a research and development grant from the Natural Sciences and Engineering Research Council of Canada (NSERC) in 2002 for the development of Hydroxyapatite as a drug-eluting coating. In December 2004 MIVT received a Government grant for the research program titled "Development of Novel Drug Eluting Composite Coatings for Cardiovascular Stents". For more information, please visit: http://www.trilogy-capital.com/tcp/mivt/website.html. To read or download MIV Therapeutics' Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/mivt/factsheet.html. To obtain daily and historical Company stock quote data, and recent Company news releases, visit http://www.trilogy-capital.com/tcp/html/mivt.htm. MIVT is also traded on the Frankfurt Stock Exchange under the ticker symbol MIV.
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 "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. 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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MIV Therapeutics' Intellectual Property Portfolio Expands to 43 Patents, Patent Applications and Licenses on Novel Technologies
Monday September 26, 4:01 pm ET
Aggressive IP Protection of Coating Technologies Positions Company for Entry into $100 Billion Drug-Delivery Market
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 26, 2005--MIV Therapeutics, Inc. (OTCBB:MIVT - News; Frankfurt/FSE:MIV), a developer of next-generation biocompatible passive and drug-eluting stent coatings and drug delivery technologies for the treatment of cardiovascular disease, has announced that its intellectual property portfolio has achieved a total of 43 U.S. and international patents and patent applications. Aggressive steps taken to secure patent protection for the IP portfolio reflect the Company's vision and business strategy to generate significant revenues from its proprietary coating solutions, targeting the projected $100 billion dollar global marketplace for coronary stents and advanced drug-delivery systems.
ADVERTISEMENT
The Company's intellectual property portfolio includes patents held by the University of British Columbia (UBC) to which MIVT has exclusive commercial rights under a strategic alliance with the university. The latest count includes several key patent applications filed simultaneously in various countries around the world, further protecting commercial exclusivity of MIVT's inventions in the global marketplace. The patents from UBC involve MIVT's initial strategic thrust to commercialize a family of next-generation biocompatible coatings for stents and other medical devices based on a highly biocompatible material called Hydroxyapatite (HAp), which has been shown to be suitable for a broad array of applications as a coating for coronary stents and next-generation drug-elution/drug-delivery systems.
"The vigorous expansion and the aggressive protection of intellectual property portfolio is a central element of MIVT's high-growth business strategy. Continued growth of our family of patents, licenses and patent applications reflects methodical pursuit of important milestones of our corporate progress," said Alan Lindsay, Chairman and CEO of MIVT. "Our HAp-based coatings and composite drug delivery technologies have a number of potential broad applications in cardiovascular and non-vascular drug/device combination products. Our goal is to continue to develop innovative solutions needed in our target markets and to diversify our portfolio of solutions to capitalize on applications that can access the $100 billion market of combination implantable drug delivery systems."
Mr. Lindsay added, "The market for drug-eluting stents is one of the fastest growing segments within the medical device arena, with annual growth approaching 25%, and there is a critical need for next-generation technologies and solutions to enhance the performance and safety of devices, while providing competitive advantages to medical device manufacturers."
In addition to its advanced research and development programs, the Company is also expanding its intellectual property portfolio through acquisitions. Earlier this year, MIVT grew its IP portfolio through acquisition of SagaX, a company developing a range of proprietary solutions to prevent naturally occurring cardio-embolic strokes and strokes and other common and serious complications that can result from cardiac procedures. These technologies include an innovative proprietary Aortic Embolic Protection Device (AEPD),designed to be implanted in the aorta during cardiology surgery and procedures, to filter and/or deflect embolic particles that can cause seriously debilitating or fatal strokes if left in blood circulation. The unique AEPD technology being developed at MIVT's SagaX subsidiary is one of the latest innovations in the field of filter-based embolic protection devices. It is the only filter being developed for use in the aorta. SagaX is also developing other proprietary embolic protection technologies.
The global market for carotid stents and embolic filters, which are frequently implanted in combination with each other for stroke prevention purposes, is growing around the world. Currently, the global market for these devices is estimated at $130 million, but analysts forecast that such devices will grow into a $500 million to $1 billion segment of the stent market, according to published reports.
About MIV Therapeutics, Inc.
MIV Therapeutics, Inc. is developing a next-generation line of advanced biocompatible coatings for passive and drug-eluting application on cardiovascular stents and for application on other implantable medical devices. The Company's unique ultra-thin coatings, as well as its drug-eluting coatings, are based on a ceramic material called hydroxyapatite (HAp), a bioactive porous material that makes up the bone mineral and matrix of teeth and is widely used as a bone substitute material and for coating implantable fixation devices in orthopedic, dental and other applications. During in-vivo animal trials HAp has demonstrated exceptional biocompatibility and excellent safety pursued by the science in the field of advanced implantable drug delivery systems. The Company's ultra-thin coating formulation is designed primarily to protect surrounding tissue from the chemical interaction with metal stents. The Company's novel drug eluting technologies are designed to provide an advanced alternative solution to polymer-based drug eluting coatings currently in the stent market. The Company's composite drug eluting coating technologies are designed to suit a broad range of implantable medical devices which may benefit from a highly customizable drug release profile. MIVT reached a Collaborative Research Agreement (CRA) with the University of British Columbia and supported a research and development grant from the Natural Sciences and Engineering Research Council of Canada (NSERC) in 2002 for the development of Hydroxyapatite as a drug-eluting coating. In December 2004 MIVT received a Government grant for the research program titled "Development of Novel Drug Eluting Composite Coatings for Cardiovascular Stents". For more information, please visit: http://www.trilogy-capital.com/tcp/mivt/website.html. To read or download MIV Therapeutics' Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/mivt/factsheet.html. To obtain daily and historical Company stock quote data, and recent Company news releases, visit http://www.trilogy-capital.com/tcp/html/mivt.htm. MIVT is also traded on the Frankfurt Stock Exchange under the ticker symbol MIV.
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 "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. 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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