WINNIPEG, Manitoba – July 13, 2010 – Miraculins Inc. (TSX-V:MOM), a medical diagnostic company focused on developing and commercializing diagnostic tests for unmet clinical needs, is pleased to announce today that the United States Patent and Trademark Office has issued US Patent 7,754,495 entitled “Methods for Early Diagnosing of an Increased Risk of Preeclampsia”. The issued patent is a valuable addition to Miraculins’ portfolio of issued and pending patents protecting markers in its preeclampsia program, including Endoglin, the lead marker in the program. Miraculins’ preeclampsia program is being advanced in partnership with the Biosite division of Inverness Medical Innovations (NYSE:IMA).
The issued patent is based on the world-leading research of Dr. Isabella Caniggia of the Samuel Lunenfeld Research Institute of Mount Sinai Hospital in Toronto. Miraculins has a world-wide license with Mount Sinai Hospital for the rights to the patent families of Dr. Caniggia, which cover a suite of 35 novel biomarkers involved in the development of the placenta and the biology implicated in the development of preeclampsia, a debilitating and potentially fatal complication of pregnancy.
Preeclampsia affects three million mothers worldwide annually and is associated with premature births and infant illness including cerebral palsy, blindness, epilepsy, deafness and lung conditions. There is no effective detection method for the risk of preeclampsia and the cause is unknown. It is estimated that preeclampsia costs the global health care system US$3 billion per year.
"Today's patent issuance provides important protection for the potential products we are developing with our partners at Inverness,” stated Christopher J. Moreau, president and CEO of Miraculins Inc. “We see this and previous patent issuances in this patent family as a recognition of the novelty of Dr. Caniggia’s research and continue to be energized by the opportunity to create a product that will bring needed help to mothers and babies.”
About the Samuel Lunenfeld Research Institute of Mount Sinai Hospital
The Samuel Lunenfeld Research Institute of Mount Sinai Hospital, a University of Toronto affiliated research centre established in 1985, is one of the world's premier centres in biomedical research. Thirty-four principal investigators lead research in diabetes, cancer biology, epidemiology, stem cell research, women's and infants' health, neurobiology and systems biology. For more information on the Samuel Lunenfeld Research Institute, please visit www.lunenfeld.ca.
About Miraculins Inc.
Miraculins is a medical diagnostic development company focused on non-invasive tests for unmet clinical needs. Miraculins is bridging the gap between commercially available diagnostic tests and research conducted at leading research institutions around the world. The Company’s lead program, a suite of biomarkers for preeclampsia, is partnered with Inverness Medical Innovations (NYSE:IMA), one of the world’s largest diagnostic companies. For more information visit www.miraculins.com.
For more information, please contact:
Christopher J. Moreau President and CEOMiraculins Inc.Ph: 204-477-7599Fax: firstname.lastname@example.orgNeil Murray-LyonSenior Account ManagerCHF Investor RelationsPh: email@example.comAlison TullisSenior Account ManagerCHF Investor RelationsPh: 416-868-1079 firstname.lastname@example.org
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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”), such as statements regarding the execution of definitive documentation and the closing of the transaction. 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: the satisfaction of all of the closing conditions of the transaction, 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.
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