WINNIPEG, MANITOBA -- (Marketwire) -- 01/07/13 -- 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; PharmaChoice, one of Canada's largest pharmacy networks comprised of over 350 independently-owned stores; and Pear Healthcare Solutions, a leading provider of in-pharmacy health screening and educational services, today announce that PharmaChoice will be the first pharmacy network to introduce the PreVu® Non-Invasive Skin Cholesterol Point of Care (POC) Test in Ontario and Atlantic Canada, through a Phase One launch in up to 50 of its stores this February - Canada's National Heart Health Month.
"At PharmaChoice, we are committed to providing the highest standard of health care and advice to our patients, and we are very pleased to be the first pharmacy in Eastern Canada to introduce the PreVu POC Test to patients through our network of independently-owned and operated community pharmacies," said Lowell Johnstone, Director of Pharmacy Services, PharmaChoice. "PreVu represents a perfect fit for our pharmacies which encourage preventative healthcare within the communities they serve. With this important new non-invasive technology, we can identify patients who may be at higher risk for coronary artery disease. We are confident that the availability of this service in PharmaChoice pharmacies will raise heart health awareness for Canadians."
"We are very excited to be expanding PreVu into Eastern Canada through PharmaChoice, one of the country's most respected and forward-thinking retail pharmacy operations," said Paul Moreau, Vice President, Sales and Marketing for Miraculins Inc. "Ontario and the Atlantic provinces represent significant markets for us and our retail launch through PharmaChoice will provide us with access to millions of consumers who have come to trust the PharmaChoice brand in its delivery of neighborhood-based wellness advice and services. As an industry leader, PharmaChoice understands the critical importance of raising heart disease awareness at the grassroots level and by using the PreVu test, will be able to identify individuals at risk who could benefit from more intensive primary prevention measures directed by their doctors to help guard against a first heart attack."
PreVu will be introduced this February during National Heart Health Month in up to 50 PharmaChoice locations spread out across Ontario, New Brunswick, Prince Edward Island, Nova Scotia and Newfoundland, as part of a Phase One launch of the new test through the PharmaChoice network. This introductory campaign will see the PreVu POC Test conducted in-store by PharmaChoice pharmacists as part of a series of special PreVu Cardiovascular Risk Assessment Clinics. Phase Two of the expansion will see additional PharmaChoice locations being added in the months that follow, with all participating stores anticipated to transition to offering PreVu testing as an ongoing risk assessment service available either through walk-up request or by appointment. Further details as to participating store locations for Phase One will be released closer to February.
Based upon a patient's PreVu test results, formal risk assessment under their 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. PreVu is not a substitute for blood serum cholesterol testing.
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® Point of Care 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.
Based in Dartmouth, Nova Scotia, PharmaChoice is a member-owned cooperative that represents independent pharmacy owners across Canada. Launched in 1999, PharmaChoice empowers independent drug stores to combine professional services with a wide range of competitively priced products adapted to customer needs. The PharmaChoice philosophy is embodied in the slogan "Advice for Life" and the organization lives that promise everyday as an integral part of healthcare in the communities it serves. There are over 350 locations that rely on the strength of the PharmaChoice brand to leverage their buying power and supply them with various marketing programs. PharmaChoice delivers the following services to its membership: Buying Power; Marketing Tools; Technology Solutions; Value Added Programs; and Best Practices. As such the pharmacists' role is seen as that of recognized community leader, whose commitment to their patients make them an important member of their patient's health care team. In addition to counseling and responding to people's health and wellness queries, the pharmacist is also a patient's best friend. Head Office backs PharmaChoice members with a robust support system that provides an array of innovative ways for pharmacists to remain committed to their patients. For more information visit www.pharmachoice.com.
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. 2013.
PharmaChoice® is a registered trademark of PharmaChoice. All Rights Reserved. 2013.
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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