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March 22, 2005

MIV Therapeutics receives government grant for coating technology research

Canadian pharmaceutical coating developer MIV Therapeutics has received a government grant for a research program focused on the development of new drug coatings for cardiovascular stents, tubular structures of stainless steel or plastic used to prevent bodily tubes from becoming blocked by disease.

By CBR Staff Writer

According to the company’s subsidiary, MIVI Technologies, the National Research Council approved its application after an in depth familiarization with technologies proposed by the unit and a review of the company’s organizational and fiscal capability to carry on with the proposed $1m plus R&D program.

Approval of our application comes at a time when the company is gearing towards clinical trials of its proprietary Hydroxyapatite (HAp) nano-coating technology, and when we are simultaneously aggressively pursuing the development of the next generation of fully biocompatible coating for a variety of applications on medical devices, said Alan Lindsay, CEO of MIV Therapeutics. IRAP funding will provide welcome support to these corporate development strategies.

Arc Rajtar, who heads the MIVI R&D team, said the funding will be used to support personnel in their attempts to meet the objectives of the program. He added that the multilayer composite coatings will offer drug release characteristics which can be engineered to accommodate a broad variety of drugs and their specific applications, in a manner which is demanded by the medical practitioners.

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