MIVT New Patent Application Targets Worldwide Demand for Safer Drug Delivery Solutions for Chronic Diseases; New Non-Polymeric Drug-Eluting Coatings Offer High Biocompatibility, Drug Storage and Controlled Drug Release
MIVT's newest drug delivery platform represents a breakthrough in a platform of nanotechnology-based drug delivery structures and coatings, which would provide safer and superior storage for the delivery of one or more drugs within a patient's body. Its structure is designed to ensure optimized control for the release of drugs through the targeted organs, with highly localized delivery, particularly with water-insoluble agents such as anti-cancer drugs, protein drugs and anti-HIV drugs.
“Development of Novel Drug Eluting Composite Coatings for Cardiovascular Stents”
The evolutionary system is an advanced application representing a unique addition to MIVT's biocompatible hydroxyapatite (HAp) coatings for medical devices, such as cardiovascular stents. This new patent application is the latest step in MIVT's strategic business plan to build a broad intellectual property portfolio of proprietary medical device coating technologies designed to significantly improve the safety and effectiveness of vascular stents and other implanted medical devices.
"With this latest proprietary technology innovation, MIV Therapeutics has further reinforced its position as a leading developer of 'smart' drug-eluting systems for one of the fastest growing segments of the global medical device marketplace," said Arc Rajtar, Chief Technology Officer at MIVT. "This truly unique non-polymeric drug delivery technology offers improved safety through its exceptional biocompatibility, substantially improves the controlled release of drugs to targeted tissues at a highly localized level, and could be applied to meet a diverse range of drug regimen requirements to treat a variety of diseases."
Advanced drug elution technologies are absorbing an increasingly large share of the global biotechnology marketplace. Drug eluting medical device coatings, for example, have produced a paradigm shift in clinical care since their commercial debut, and in recent years have emerged as a leading biomedical device for the treatment of cardiovascular disease and other conditions. The U.S. Department of Commerce projects a burgeoning domestic market for advanced drug delivery systems of $86 billion in 2007, and more than $150 billion globally.
The Smart IV technology was developed at the Company's Vancouver-based research and development facility and is entirely owned by MIVT.
About MIV Therapeutics Inc.
MIV Therapeutics is developing a next-generation line of advanced biocompatible coatings for passive and drug-eluting applications on cardiovascular stents and 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. The Company's unique ultra-thin coating platform is derived from an organic material called hydroxyapatite (HAp) which has demonstrated excellent safety and biocompatibility in vivo animal studies. Hydroxyapatite is a bioactive 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 Hydroxyapatite could also provide an attractive alternative to current polymer-based drug eluting coatings on the stent market, which have been associated with undesirable medical 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. MIVT has a Collaborative Research Agreement (CRA) with the University of British Columbia and has received 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 (NRC-IRAP). Under this sponsorship, the Company is expected to complete its drug-eluting research and development program and to reach product commercialization stage. 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 traded on the Frankfurt, Germany, stock exchange under the symbol MIV.
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.