MIV Therapeutics' Newest Technology Breakthrough Expands Family of Proprietary ``Smart'' Drug Delivery Systems; Advanced Coating Composite for Enhanced Medical Devices Complements Company's Proprietary HAp Technologies
This is the newest member of a family of "smart" and highly innovative proprietary coating technologies developed by MIVT, which could have important, innumerable therapeutic benefits for patients who require the controlled, gradual release of drugs from implanted medical devices.
“Development of Novel Drug Eluting Composite Coatings for Cardiovascular Stents”
The "smart" drug eluting system is designed to improve the overall biocompatibility of polymer composites and to increase the control of drug delivery characteristics. Engineering specifications used in this novel system provide considerably improved drug release flexibility, including the option of releasing a wide variety of drugs to address the various needs of a patient's particular pathological condition over extended periods of time.
MIVT's latest "smart" coating technology carries with it the promise of providing unprecedented, highly personalized and optimal therapeutic benefits to patients who require implantable medical devices.
"This unique structural configuration allows unprecedented, complex new therapeutic possibilities, such as the delivery of 'drug cocktails' when medically necessary," said Alan Lindsay, CEO of MIVT. "As a proud new member of the family of MIVT's advanced drug delivery systems, this latest smart coating technology provides a unique new methodology of controlled drug delivery in a manner responsive to a patient's real-life clinical needs."
MIVT's innovative technology of separating the drug molecules from the polymeric coating molecules in this coating is intended to eliminate the risk of undesired interactions between the two molecule types.
In addition, this advanced technology is capable of controlling both the pace and amount of drugs delivered, further enhancing the device's potential therapeutic benefits and its potential for "multi-platform" applications.
Dr. Dean-Mo Liu, Chief Scientist of Drug Delivery Technologies at MIVT, noted, "This coating's unique physical characteristics give our proprietary drug-release technology exceptional flexibility for potential application on a wide range of medical devices, including vascular stents and an exceptionally wide range of other implantable medical devices."
Among the coating technology's most novel characteristics is its well-organized configuration of encapsulated nano-chambers that can provide more effective and gradual drug release. These chambers, each of which measures between a few nanometers and several micrometers in diameter, are contained in a multi-layered configuration in which the respective size and structure of the cells can be controlled to suit specific drug release requirements.
This latest "smart" coating technology was developed entirely at MIVT's research and development facility in Vancouver, Canada, by a team of researchers under the stewardship of Dr. Liu, and including MIVT's Maurice Lien and Doug Smith. The technology is 100%-owned by MIVT.
Stents are expandable medical devices that doctors may place inside clogged or otherwise narrowed arteries of patients with vascular disease, in order to maintain healthy blood flow. Drug-eluting stents deliver medicines at the point of implantation to reduce unwanted side effects.
MIVT's proprietary coating technologies are increasingly being recognized for providing an exceptional degree of biocompatibility compared to traditional bare metal stents and less advanced coating technologies on the market.
"This latest coating invention adds new elements of flexibility and efficacy to our impressive platform of drug-eluting coating technology options, which can be applied in innumerable ways," said Dr. Liu. "Moreover, its unique composite properties can also complement the exceptional biocompatibility of MIVT's own Hydroxyapatite (HAp) coatings -- reinforcing the potential medical benefits to the patient."
MIVT is committed to contributing needed technology innovations in the fast-growing multi-billion-dollar global marketplace for implantable, drug-eluting stents and other cardiovascular disease solutions. The Company recently announced that it has received a $4.14 million equity financing to accelerate these and other R&D efforts.
In addition, in collaboration with the University of British Columbia, MIVT focuses on the development of its HAp-based coating formulations to protect surrounding tissue from chemical interaction with bare-metal stents, an interaction which typically causes an aggressive immune response, resulting in restenosis, or re-narrowing of arteries, and risks of thrombus in the stented artery. Hydroxyapatite is a naturally occurring material, a component of hard tissue found in human teeth and bone that enables the surface of metallic stents to virtually mimic the natural state of structurally-sound 100% biocompatible and bio-active tissue.
The Company believes its arsenal of novel coating technologies also has the potential for medical applications including dental, hip and bone repair implants.
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 attractive 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.