Miraculins Moves Closer to PreVu(R) Expansion in U.S. and UK/EU through Key Market Development Team Appointments
February 19 2013 - 6:00AM
Marketwired Canada
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(R)
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(R) 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(R) 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(R) 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(R) is a registered trademark of Miraculins Inc. All Rights Reserved. 2013.
FOR FURTHER INFORMATION PLEASE CONTACT:
Miraculins Inc.
Christopher J. Moreau
President & CEO
204-477-7599
204-453-1596 (FAX)
info@miraculins.com
www.miraculins.com
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