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Share Name | Share Symbol | Market | Type |
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Multi-Glass International | TSXV:MSS | TSX Venture | Common Stock |
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Miraculins Inc. (TSX VENTURE:MOM), a medical diagnostic company focused on developing and commercializing diagnostic tests for unmet clinical needs is pleased to announce that it has signed a letter of intent with Mount Sinai Services ("MSS") which would allow MSS to acquire FDA regulated commercial products known as Analyte Specific Reagents ("ASRs") in order to develop in house clinical tests for Miraculins' growing pipeline of biomarkers. Under the agreement, Miraculins will also retain MSS to provide laboratory and testing services for future clinical trials and regulatory clearance or approval studies involving other products that Miraculins may seek to develop. MSS, based in Toronto, Ontario, Canada, is a leading laboratory provider of specialty services to the North American market offering a number of established and custom developed analytical assays. In addition, MSS has a growing reputation as a leader in the provision of novel innovative assays being one of a small number of labs to offer the K-ras Mutation Detection Assay, which has been shown in clinical studies to be an important tool in determining treatment options for patients with metastatic colorectal cancer. "Working with innovative partners like Miraculins is a key component of the MSS business plan and this relationship will allow us to be one of the first to offer our customers the latest assays to detect new and novel markers in areas of important clinical need," commented Kenneth P.H. Pritzker M.D. FRCPC, Managing Director of Mount Sinai Services. "We have reviewed Miraculins' new strategy for advancing novel diagnostic assays to market and we are looking forward to developing a number of exciting and innovative tests throughout the life of our relationship." "We are very pleased to have MSS agree to be the first CLIA laboratory to work with Miraculins on its ASR strategy. In addition, as Miraculins acquires full regulatory approval for any tests we independently develop, MSS will be a natural part of our distribution plan," stated Christopher J. Moreau president and CEO of Miraculins. "Access to the end-user market is critical to both our new business strategy and the longer term adoption of our tests. Perhaps just as important, Dr. Pritzker is a leading pathologist and a member of a critical demographic for our products. We are excited by his interest in our technology and his confidence in Miraculins." Miraculins' growing pipeline of products includes reagents for the detection of prostate cancer antigens. The Company is currently developing reagents for the detection of PSP94 and a fragment of Vitronectin (P2V(TM)) and recently announced that it would be in a position to begin offering a research use only kit for the detection of PSP94 in research settings, in the near term. The Company has also secured a term sheet with Mount Sinai Hospital that will see it acquire a portfolio of biomarkers for use in developing diagnostic assays for the early detection of preeclampsia, a disease of growing incidence and the leading cause of maternal and prenatal deaths worldwide. Miraculins is also developing an ASR strategy for these preeclampsia markers. Furthermore, Miraculins is in various stages of licensing discussions with a number of institutions in regards to a number of additional promising markers. "This is an important relationship for Miraculins, as it allows us vertical access on the supply chain as we advance our biomarkers, antibodies and reagents", said Mr. Moreau. About Mount Sinai Services Mount Sinai Services (MSS) provides an extensive set of custom laboratory research services for researchers, pharmaceutical companies and other industry partners, including research & development (R&D) for diagnostic assays, new platforms and medical devices. MSS complies with the Good Laboratory Practice (GLP) principles for every project where GLP is required. The facilities of Mount Sinai Services are audited by FDA and private regulatory agencies. MSS utilizes Mount Sinai Hospital labs which are accredited by the Ontario Laboratory Accreditation (OLA) program and the College of American Pathologists which confers deemed CLIA status. About Kenneth P.H. Pritzker M.D. FRCPC Dr. Kenneth Pritzker is the Managing Director of Mount Sinai Services; Pathologist at Mount Sinai Hospital; and Professor, Laboratory Medicine and Patholobiology at the University of Toronto. Dr. Pritzker has extensive interest in laboratory organization and management directed towards advancing the practice of pathology and laboratory medicine in academic medical centres, as well as networking with community laboratories. In addition, Dr. Pritzker acts as consultant in the areas of lab genetics, strategic and operational advice for health care institutions and biotechnology corporations. He also provides consultant services for preclinical and clinical trials involving drugs and/or biomaterials, in cancer, articular/skeletal and vascular applications. To date, Dr. Pritzker has been author/co-author of 224 scientific papers and 15 book chapters. His areas of special research interest are bone and joint diseases, particularly osteoarthritis, calcium pyrophosphate dihydrate crystal deposition disease, osteoporosis and osteonecrosis. 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. Through an internal biomarker discovery research program, Miraculins has advanced its prostate cancer diagnostic technology to the development stage. The Company's lead product in development, P2V(TM), is a simple urine test intended to be used as a pre-biopsy screen to eliminate a number of men who would otherwise undergo unnecessary prostate biopsy surgery. 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.
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