WINNIPEG, MANITOBA -- (Marketwire) -- 12/20/12 -- Miraculins Inc. (TSX VENTURE: MOM), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs; London Drugs, one of Canada's leading pharmacy chains; and Pear Healthcare Solutions, a leading provider of in-pharmacy health screening and educational services, today announce that London Drugs will be expanding its offering of the PreVu® Non-Invasive Skin Cholesterol Point of Care (POC) Test to all 76 physical pharmacy locations in more than 35 major markets throughout Western Canada.
"I am pleased to confirm that we will be expanding our PreVu POC Test programming to all of our stores beginning in March 2013," said John Tse, Vice President, Pharmacy for London Drugs. "Based on a very successful pilot at our pharmacy locations in Vancouver and the Lower Mainland, as well as in Winnipeg, and the positive response of the public and our pharmacy team, we see significant value in bringing the PreVu POC Test to customers throughout our entire network of stores, to help them better understand their potential risk of coronary artery disease."
"The Canadian launch of PreVu through London Drugs has established the viability and potential of distributing this revolutionary new screening technology through a retail pharmacy platform," said Paul Moreau, Vice President, Sales and Marketing for Miraculins Inc. "We have been diligent in advancing the business model for the pharmacy market given its enormous consumer reach, and these pilots have allowed us to further refine and prepare the model for duplication. The pioneering vision of London Drugs, further underscored by its decision to expand PreVu to all of its stores, signals the graduation of a test delivery system that can now be replicated in pharmacies across the country and internationally."
Based upon a patient's PreVu test results, formal risk assessment under a healthcare provider's direction, including blood cholesterol testing and global risk assessment, may be warranted, or should be considered. The PreVu POC Test does not diagnose the presence or absence of coronary artery disease (CAD), but without blood draw or fasting it can quickly identify individuals who may possess hidden, higher levels of risk of CAD by measuring their skin cholesterol levels, and encouraging them to see their doctors. Clinical studies have shown that elevated skin cholesterol is strongly associated with an increased risk of serious atherosclerotic disease.(i) PreVu is not a substitute for blood serum cholesterol testing.
Miraculins also recently announced the launch of its French language web site for PreVu for the Canadian marketplace (www.prevu.com) and issued a year-end summary report on PreVu operating, marketing and distribution progress.
(i)PreVu clinical study references can be sourced at www.prevu.com.
About The PreVu® Non-Invasive Skin Cholesterol Test
The PreVu® Point of Care (POC) Test is a non-invasive, risk assessment technology designed to measure Skin Cholesterol - an important new biomarker in assessing risk of coronary artery disease (CAD). The PreVu® POC Test is completely painless, non-invasive, involves no blood draw or needles, and requires no overnight fasting. This in vitro diagnostic test is conducted on the palm of the hand in less than 5 minutes with results being immediately available, facilitating point of care consultation and a next steps discussion. Skin Cholesterol is the cholesterol that has been deposited and diffused into tissue, as opposed to freely circulating in the bloodstream, and the skin contains approximately 11% of all the cholesterol found in the human body. Elevated Skin Cholesterol has been shown in clinical studies to be strongly associated with significant CAD as measured by treadmill stress testing and coronary angiography, as well as measured by testing for coronary calcium, carotid artery thickening, and carotid artery plaque. The PreVu® POC Test does not diagnose the presence or absence of CAD, but helps to identify patients who may be at higher, hidden risk for CAD by measuring this new biomarker. For more information visit www.prevu.com.
About Miraculins Inc.
Miraculins is a medical diagnostic company focused on acquiring, developing and commercializing non-invasive tests for unmet clinical needs. A significant number of promising diagnostic opportunities remain un-commercialized because of the sizable gap between the discovery stage, when research institutions are typically involved, and the commercialization stage, when the larger commercial enterprises become interested. Miraculins has direct experience in bridging this gap. The Company's PreVu® technology is a revolutionary new coronary artery disease risk assessment technology that measures cholesterol levels in a patient's skin non-invasively, painlessly and without the need for fasting. Miraculins is also advancing a suite of biomarkers to aid in the early detection of the devastating disease of pregnancy known as preeclampsia. The Company's preeclampsia program is partnered with Alere Inc. (formerly known as Inverness Medical Innovations), one of the world's largest diagnostic companies. For more information visit www.miraculins.com.
About London Drugs
Founded in 1945, B.C.-based London Drugs has 77 stores in more than 35 major markets throughout British Columbia, Alberta, Saskatchewan and Manitoba, including its online store www.londondrugs.com. London Drugs offers consumers a range of products from digital cameras and cosmetics to computers and televisions. Renowned for its creative approach to retailing, the company employs more than 7,500 people with pharmacy and health care services being the heart of its business. Committed to innovation and superior customer service, London Drugs has established itself as a reputable and caring company and continues to position itself for future growth and development.
About Pear Healthcare Solutions
Pear Healthcare Solutions is a privately held company specializing in the development and implementation of programs to address the evolving needs of pharmacists in their expanding role of providing healthcare and disease management services. Pear Healthcare Solutions offers a number of innovative medical devices and professional education programs that help pharmacies connect with their patients, improving their health and wellness. Pear provides distribution, training and support/education services. For more information visit www.pearhealthcare.com.
Caution Regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.
These statements reflect management's current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: Miraculins' early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in Miraculins' filings with Canadian securities regulatory authorities, as well as Miraculins' ability to anticipate and manage the risks associated with the foregoing. Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found in the body of this news release. Miraculins cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on Miraculins' forward-looking statements to make decisions with respect to Miraculins investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Miraculins cannot provide assurance that actual results will be consistent with these forward-looking statements. Miraculins undertakes no obligation to update or revise any forward-looking statement.
PreVu® is a registered trademark of Miraculins Inc. All Rights Reserved. 2012.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vice President, Sales & Marketing
Christopher J. Moreau
President and CEO
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