MIV Therapeutics' Breakthrough Technology Praised in Independent Research Service by Frost & Sullivan; Prestigious Growth Consulting Company Extols Company's Unique Biocompatible HAp Technology for Medical Coatings and Drug Delivery Sectors
In a comprehensive report entitled, "Advances in Coatings Technology for Medical Devices and Drug Delivery," Frost & Sullivan's Technical Insights Group discussed the development of MIV Therapeutics' pioneering, completely biocompatible Hydroxyapatite (HAp) technology for medical coatings, and its potential to improve stents and other implantable devices, as well as advanced drug delivery systems. The research service reviews current medical device coatings technologies, innovations, and market trends.
“The technology developed by MIV therapeutics is an entirely new approach as compared to the classic polymer+drug coating designated to stop growth of tissue”
The 100-plus page research service recognizes MIV Therapeutics as a leader of innovation in the field. It also highlights the specific technical benefits and competitive advantages of the Company's HAp technology platform for better functionality of stents and an array of other critical devices.
"The technology developed by MIV therapeutics is an entirely new approach as compared to the classic polymer+drug coating designated to stop growth of tissue," the research service notes. "The HAp coatings are entirely biocompatible and thus promote tissue healing and permit the optimal growth of endothelium. The company has a repository of technologies namely the HAp ultra-thin dense (less than 0.2um) nano- films only, thin (0.5-1um) porous HAp films and thin-medium (1-5um) composites of HAp + biopolymer. Each of these technologies has an important role to play in the performance of the stent."
Frost & Sullivan, a leading independent third-party research and growth consulting firm, provides influential industry analysis about technology innovations across numerous markets. Its review of the medical device industry's latest coatings and drug delivery technologies, processes and patents also provides expert insights into new market developments and up-and-coming industry players. In preparing the research service, Frost & Sullivan analysts analyzed key organizations, companies, universities, research institutions, and government agencies involved in R&D in the field of coatings for medical devices.
The research service further underscores the unique advantages of MIVT's HAp coatings, including:
-- Unsurpassed biocompatibility;
-- Superior safety;
-- Enhanced drug delivery efficacy; and
-- Cutting-edge coatings control properties for drug-delivery.
MIVT's coating technology is based upon a natural material, Hydroxyapatite (HAp), a component of hard tissue found in bone and other parts of the human body, which enables the surface of metallic stents to virtually mimic the natural state of structurally-sound 100% biocompatible and bio-active tissue.
The research service also notes, "The ultra-thin dense HAp nano-films are designated as advanced surface modification for improved biocompatibility and/or foundation of the thicker and porous HAp and medium-thick HAp-polymer composites; the thicker and porous coatings of pure HAp are designated as drug-carrying reservoirs; the medium-thick HAp-polymer composites are designated for increased drug carrying capacity, additional controls and flexibility of drug delivery profiles and to ensure drug delivery over extended periods of time. The company is currently evaluating the technology in one of the most technically challenging applications, i.e., cardiovascular stents."
Alan Lindsay, CEO of MIVT, said he was gratified that the Frost & Sullivan Technical Insights Group recognized the importance of the Company's next-generation HAp technologies, and their potential to set a new standard of performance in the biomedical coating industry. "Independent and objective analysis of the sort Frost & Sullivan provides is a critically important part of the process of technology innovation," said Mr. Lindsay. "Additional voices such as these validate our proprietary research and development initiatives. They also greatly assist in the process of effective communication with the financial community regarding the biomedical importance and marketplace potential of MIVT's new breed of biocompatible medical coatings. Frost & Sullivan's comprehensive research service does an excellent job of describing the characteristics and advantages of MIVT's proprietary technology, and in conveying the potential of any products we develop to help countless patients with cardiovascular disease and other conditions to live healthier, longer lives."
MIV Therapeutics is developing and pursuing the commercialization of unique HAp-based coatings for stents and other medical devices in order to provide improved solutions for the treatment of cardiovascular disease and other conditions. In collaboration with the University of British Columbia, the Company is focused on developing an ultra-thin coating formulation to protect surrounding tissue from chemical interaction with bare-metal stents, an interaction which typically causes aggressive responses of the immune system, resulting in elevated restenosis and risks of thrombus in the stented artery.
HAp coatings have been shown in pre-clinical studies to demonstrate critical advantages over the existing generation of stent coatings. Most importantly, these studies have shown that HAp coatings trigger none of the harmful inflammation and unhealthy tissue growth within arteries that are the leading causes of stent failure and restenosis, or re-blocking of the arteries following angioplasty. Polymer-based drug-eluting coatings currently in use, however, are associated with significant rates of inflammation and other adverse reactions for the patients who receive vascular stent implants. In addition, MIVT's coatings are designed to reduce risks of thrombogenic (blood clotting) events attributable in some instances to polymer-coated stents. MIVT believes its proprietary HAp technology has the potential for use in an array of other medical applications, including dental, hip and bone repair implants.
The research service on MIVT can be purchased through the Frost & Sullivan website at http://www.frost.com.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.
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 ultra-thin coating formulation is designed primarily to protect surrounding tissue from the chemical interaction with metal stents. The Company's unique ultra-thin coating has been derived from a biocompatible material called hydroxyapatite (HAp) that during in-vivo animal trials demonstrated excellent safety and superior healing properties pursued by the science in the field of advanced implantable drug delivery systems. Hydroxyapatite is a bioactive porous material that makes up the bone mineral and matrix of teeth. It is widely used as a bone substitute material and for coating implantable fixation devices in orthopedic, dental and other applications. The Company's novel drug-eluting technologies based on Hydroxyapatite provide an alternative solution to polymer-based drug-eluting coatings currently in the stent market. The Company's drug-eluting coating is 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" under the National Research Council - Industrial Research Assistance Program (NRC-IRAP). Under this sponsorship the Company will progress to the development stage, which is expected to finalize the drug-eluting research and development Program. 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.
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.