WINNIPEG, MANITOBA -- (Marketwire) -- 02/19/13 -- 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, announces today the appointment of two key members to its international market development team, to help guide the Company's efforts in developing international markets for its PreVu® Non-Invasive Skin Cholesterol technology. Miraculins has engaged Mr. Charles G. Nell and Mr. Paul Mordente, both proven pharmaceutical sales executives and business development leaders, who will focus their efforts on the United States and the United Kingdom/European Union, respectively, with the primary goal of introducing PreVu into the retail pharmacy segments in those territories.
Additional goals of the international market development team are to support the Company's efforts in general market development activities in the U.S. and UK/EU including identifying and evaluating potential distribution partners, evaluating distribution alternatives and facilitating meetings with key industry members with the objective of establishing and ultimately growing sales in international markets across multiple segments.
Charles G. Nell has held a number of strategic sales and marketing positions, with a focus on market expansion, throughout his career. Mr. Nell served at a Vice President level for over ten years with AmerisourceBergen, the largest pharmaceutical distributor in the United States, where he was instrumental in designing and implementing an innovative selling program that identified additional revenue opportunities for the company which soon became an industry standard. Mr. Nell was also responsible for sales expansion along with new business growth within the National and Regional pharmacy chain portfolio in the United States. Mr. Nell has most recently been working as the Vice President of Sales and Business Development - U.S. for Pear Healthcare Solutions, Miraculins' exclusive distribution partner for the Canadian retail pharmacy market.
Paul Mordente brings over 25 years of sales, marketing and management experience, including a series of senior roles in building the European operations for LifeScan Inc., a Johnson & Johnson Company focused on blood glucose and diabetes monitoring systems. Mr. Mordente currently serves as the Managing Director of Amalfi Business Consultants, a United Kingdom based firm that is experienced in market planning and execution strategy for pharmaceutical and medical device products and which has represented major global companies such as GSK, Johnson & Johnson and Inverness Medical (Alere) on various international projects.
"The introduction of PreVu into both the United States and the UK/European Union pharmacy markets, are two of our primary objectives for 2013, and these appointments are an important step towards achieving those milestones," stated Christopher J. Moreau, President and Chief Executive Officer of Miraculins Inc. "I am very pleased to have both Charles and Paul on the Miraculins team and feel confident about our ability to execute our business plan in these important international markets."
The PreVu POC Test has been CE-Marked for distribution in the UK and throughout various Member States of the European Union and has been cleared for sale by the US FDA.
About the PreVu Non-Invasive Skin Cholesterol Test
The PreVu® Non-Invasive Skin Cholesterol 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, by weight. 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., one of the world's largest diagnostic companies. For more information, visit www.miraculins.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.
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.
Christopher J. Moreau
President & CEO
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