MIV Announces Excellent Safety and Efficacy of VESTAsync Polymer-Free Drug-Eluting Stent at 12-Month Clinical Follow Up
-Completes Nine-Month Follow Up for All Patients in VESTASYNC I Trial-
ATLANTA, Aug. 5, 2008--(BUSINESS WIRE)--MIV Therapeutics, Inc. (OTCBB: MIVI) (Frankfurt: MIV), a leading developer of next-generation coatings and advanced drug-delivery systems for cardiovascular stents and other implantable medical devices, announced continued excellent safety and efficacy results at 12-month clinical follow up for all 15 patients in its first-in-man (FIM) VESTASYNC I Trial of its VESTAsync™ polymer-free drug-eluting stent. In addition, data using intravascular ultrasound (IVUS) and Quantitative Coronary Angiography (QCA) have now been generated for all 15 patients at nine-month follow up, which showed no difference from the safety and efficacy data on 11 and 12 patient nine-month data presented at the American College of Cardiology conference in March.
Dr. Mark Landy, MIV President and Chief Executive Officer remarked, “We are very excited that the data from the VESTASYNC I FIM Trial continue to show excellent safety and efficacy, with no major adverse cardiac events for all 15 patients involved. Significantly, at this point all of our patients are Plavix-free, and have been so for at least eight months, which suggests that the VESTAsyncTM drug-eluting stent has the potential to reduce the current treatment paradigm for these patients to short-term anti-coagulant therapy from the current standard of a minimum of one year.”
About MIV Therapeutics
MIV Therapeutics is developing a next-generation line of advanced biocompatible coatings for passive and drug-eluting applications on cardiovascular stents, as well as for 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. This coating platform is derived from hydroxyapatite (HAp), an organic material that has demonstrated excellent in vivo safety and biocompatibility. Hydroxyapatite is a 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 HAp could also provide an attractive alternative to current polymer-based drug-eluting coatings on the stent market, which have been associated with undesirable 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. MIV Therapeutics has a Collaborative Research Agreement with the University of British Columbia and has received a 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. Under this sponsorship, the Company is expected to complete its drug-eluting research and development program and to reach product commercialization. MIV's intellectual property portfolio includes patents held by the University of British Columbia and exclusively licensed to MIV. Key patent applications filed simultaneously in various countries around the world further protect the commercial exclusivity of MIV's inventions in the global marketplace.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. All statements that discuss expectations and projections with respect to future matters including, without limitation, statements relating to the safety and efficacy of the Company’s product and the ability of the Company’s product to rejuvenate the stent market are forward-looking statements. Such statements are indicated by words or phrases such as “proposed,” “expected,” “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 including, without limitation, market acceptance of the Company’s product, the ability of the Company to raise sufficient funding and to continue to develop its various business interests as presently contemplated, and other factors identified in the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's annual report on Form 10-K for the year ended May 31, 2007 and Forms 10-Q. The Company expressly disclaims any obligation to update publicly or otherwise revise these statements, whether as a result of new information, future events or otherwise, except to the extent required by law.
Posted: August 2008