THE CHINA FACTOR
Miraculins is an emerging biotechnology company committed to extending life, reducing suffering and lowering healthcare costs.
Through the introduction of ground breaking products like the Pre-Vu and the Scout DS, the Miraculins team is dedicated to the development and commercialization of diagnostic tests for diseases and conditions that are lacking highly sensitive and specific tests.
Recently Miraculins has seen a growing awareness of its products on the global stage and developments in China may push the company to a whole new level of growth and support.
By branching into China and taking on a strategic partner or alliance the company can now effect the bottom line on several fronts. The manufacturing costs will help to meet the demand that could now come from a whole new demographic. The reduction of costs can push to a quicker positive cash flow thus paying off for share holders and reducing the likelihood the company will have to go back to the market to raise funds.
In the bio-tech and medical industry I believe there has been a shift in the status quo for acquiring emerging technologies and companies. It would appear some CEO's are taking a lesson from the majors in the metals sector whereby you stand back and watch the cream rise to the top instead of spending your money trying to duplicate the same end result.
Miraculins may fall prey to the larger pharmas that have severely downsized their own R&D departments in hopes of finding the next big thing through other means.
Some investors will add a hint of cynicism to the move by Miraculins beyond the Great Wall that we know as China. Lets face it protecting intellectual property should be a concern for anyone in this sector. I think most Chinese firms now realize though that the world exists outside China's walls and their own greed is pushing them to think globally in every sector.
Chinese companies are now on the hunt across the globe for any successful blue print laid down by companies they feel will make them money in the future. They do not seem set on any sector specific target either.
Jim Mellon, one of the wealthiest people in Europe -- reportedly worth more than 500 million British pounds -- contributed to Miraculins' latest financing and liked the company so much he agreed to join the board.
Chinese market beckons local firm
Miraculins Inc. working on dealA Winnipeg company that makes non-invasive medical diagnostic equipment is meeting with one of the largest distributors in China that wants to commercialize the company's non-invasive diabetes screening test.
Miraculins Inc. has signed a letter of intent with the Chinese company. And although it is at a very early stage of the development -- part of the agreement is the Chinese company would also fund the regulatory approval process for the device in China -- company CEO Chris Moreau said it is an exciting opportunity for the company.
"It's a massive potential for us. We've only owned the technology for 60 days and we are quite pleased with the speed in which we have been able to get this done," Moreau said. "In the Chinese market, point-of-care testing is hot right now. China is a major market and diabetes is a growing problem in China."
'China is a major market and diabetes is a growing problem in China'
Earlier this year Miraculins acquired the Scout DS technology from a U.S. company that was in financial difficulty. The device had already achieved regulatory approval in Canada and Europe.
Canadian distribution company, Pear Healthcare -- which also markets Miraculins' non-invasive skin cholesterol test, called Pre-Vu, to pharmacies in Canada -- is expected to announce a pilot project for Scout DS at more than a couple of dozen pharmacies in Canada before the end of the year.
Moreau said about 20 per cent of people with Type-2 diabetes don't know they have it.
The latest statistics from the American Diabetes Association say there are 79 million Americans with prediabetes.
A recent study in China indicates 114 million people have diabetes and it projects 40 per cent of 18-to-20-year-olds and 47 per cent of 30-to-39-year-olds in China are prediabetic.
Moreau is heading to China later this month to meet with officials from Cachet Pharmaceutical Co. Ltd. to discuss details of a potential partnership.
Cachet is publicly traded on the Shenzhen Stock Exchange but is majority state-owned and has a market capitalization of $654 million. It distributes a wide range of both pharmaceuticals and equipment, from traditional Chinese medicines to representing multinational pharmaceutical companies.
Moreau said Miraculins has had many enquiries from potential Chinese partners over the years but Cachet represents his "wish list" of features a Chinese partner should have. Among those is the fact it is publicly traded and must regularly report its performance, which Moreau believes will reduce the risk for a small company like Miraculins, and Cachet is a large enough company to have the resources to manage such a large market.
Executed an agreement with H-E-B, the #1 food retailer in South and Central Texas and the
State’s largest private company, that will see the Phase One launch of the PreVu® Non-Invasive
Skin Cholesterol Point of Care Test into the United States take place exclusively in 20 H-E-B
Texas store locations during the 4th quarter of 2013.
Acquired from VeraLight, Inc. all relevant assets, relating to the SCOUT DS® technology, a
ground-breaking diabetes screening technology that non-invasively measures changes in the
composition of a person's skin indicative of pre-diabetes and type 2 diabetes.
Executed license agreement with Alere for the biomarker Endoglin, concluding a three-year
Collaborative Research and Option Agreement program.
Concluded an agreement with PharmaChoice, one of Eastern Canada’s leading pharmacy chains,
that will see the retail pharmacy launch of the PreVu® Non-Invasive Skin Cholesterol Point of
Test take place in up to fifty PharmaChoice locations in Ontario and the Maritimes in
Secured a post-launch expansion of PreVu through all 76 London Drugs stores beginning March
Secured an agreement with London Drugs, one of Canada’s leading pharmacy chains, that saw
the retail pharmacy launch of the PreVu® Non-Invasive Skin Cholesterol Point of Care (POC) Test
take place in eleven London Drugs locations in Vancouver and the Lower Mainland, and
Negotiated an exclusive agreement Pear Healthcare Solutions Inc., a leading provider of
in-pharmacy health screening and education services, to distribute the PreVu® Non-Invasive
Skin Cholesterol Point of Care (POC) Test to the Canadian retail pharmacy market.
Negotiated an exclusive agreement with The Stevens Company - the largest, privately-owned
Canadian distributor of hospital, physician and nursing home supplies - to distribute the PreVu®
Non-Invasive Skin Cholesterol Point of Care (POC) Test to doctors in the Canadian medical
Secured Health Canada clearance for the sale of the PreVu® Non-Invasive Skin Cholesterol Point
of Care (POC) Test in Canada.
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