Miraculins Announces Change to Board of Directors
WINNIPEG, MANITOBA -- (Marketwired) -- 02/03/14 -- Miraculins Inc.
(TSX VENTURE: MOM), ("Miraculins" or the "Company") a medical
diagnostic company focused on acquiring, developing and
commercializing diagnostic tests and risk assessment technologies for
unmet clinical needs, announces today the resignation of Lisa Suennen
from the Miraculins Board of Directors, and the appointment in her
place of David A. Eichler.
Ms. Suennen was appointed to the Miraculins Board in connection with
the closing of the transaction that resulted in Miraculins acquiring
the Scout DS(R) diabetes testing technology from Veralight, Inc.
("Veralight"). At the time, Ms. Suennen was a partner of Psilos Group
which is the majority shareholder of Veralight, and also served as
Chair of Veralight's Board of Directors. With her significant
experience in healthcare information technology, healthcare services
and the medical technology sectors, she was appointed to the
Miraculins Board to represent Veralight's interests. Her recently
announced departure from Psilos Group has accordingly resulted in her
resignation from the Miraculins Board.
"The Board of Directors wishes to thank Lisa for her vision,
dedication and service over these last six months," said Harry
Bloomfield Q.C., Chair of the Miraculins Board. "Her visionary work
in advancing the Scout DS(R) technology prior to the Miraculins'
acquisition was fundamental to its development, and her ongoing
service as a Miraculins board member in the months since has been
greatly appreciated. We wish her every success as she begins a new
chapter in her career."
Replacing Ms. Suennen will be David A. Eichler, who is a Managing
Member of Psilos Group. Mr. Eichler joined Psilos in 1999 and focuses
primarily on investments in the medical technology and healthcare
services sectors. He has worked directly with many Psilos investee
companies as an advisor on finance, strategy and corporate
development, including formerly as Acting Chief Financial Officer of
Caregiver Services, Inc. He also has extensive experience as an
advisor to senior management and boards on M&A, financial
restructuring and capital raising transactions. Mr. Eichler
represented Psilos on the board of Acuity Pharmaceuticals (exited via
merger with Opko Health) and Mauna Kea Technologies (NYSE Euronext:
MKEA). Currently, Mr. Eichler serves on the board of Veralight and
also as Chairman of the Board of Caregiver Services, Inc. and Gamma
"We welcome David, and with his demonstrated expertise and
experience, I am confident he will make a significant contribution,"
added Harry Bloomfield Q.C.
About Miraculins Inc.
Miraculins is a medical diagnostic company focused on acquiring,
developing and commercializing non-invasive technologies 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) POC Test 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. The Company's Scout DS(R) system is the
first non-invasive diabetes testing system designed to provide a
highly sensitive and convenient method for measuring diabetes related
biomarkers in the skin, the accumulation of which are accelerated by
abnormal blood sugar levels and oxidative stress. Unlike current
testing methods, a Scout DS(R) test requires no blood draw, no
fasting, and no waiting for a lab result. The product has been used
and validated in thousands of patients around the world. The
Company's preeclampsia program is partnered with Alere Inc., one of
the world's largest diagnostic companies. For more information visit
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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"). 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 statements.
PreVu(R) and Scout DS(R) are registered trademarks of Miraculins Inc.
All Rights Reserved. 2014.
Christopher J. Moreau
President & CEO
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