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TWST: Can you give us a brief historical sketch of MIV
Therapeutics as well as an overview of things as they are now?
Mr. Lindsay: The company was established in 1999 with a mission
to develop medical devices for drug delivery. The company is
currently developing a new generation of medical devices and
therapeutics based on its state of the art stent coating and drug
delivery technologies. The company's business objective is to be
a leader in drug delivery devices for cardiovascular and
nonvascular disorders. The company's initial project is to
commercialize its state of the art laser cut stent that underwent
successful animal trials at the Mayo Clinic. The company's
objective is to market its stent in target markets of Europe,
Canada, Asia Pacific, the Middle East and Latin America in the
first quarter of 2003. We feel there will always be a niche
market for the commercialization of a non-coated stent; however
our true focus is the development of coatings and therapeutics.
Currently the industry is focused on coatings and therapeutics to
prevent restenosis. We believe the company, with its stent and
coatings technologies, has positioned itself well to become a
serious competitor in the market place. TWST: Could you explain your technologies in layman's terms?
Mr. Elliott (VP & CTO): The first technology that we have
developed to date is a non-coated stent. Most people are now
familiar with stents since Vice Presidents Cheney's heart
problems focusing the media on describing what stents are. The
basic description is a small hollow metal scaffolding that that
is used to prop up arteries that were at risk of closing up. Our
current technology has been animal tested at the Mayo Clinic and
we are going through the process of gaining approval for sale
into Europe. We expect to have CE Mark by the end of this year.
The second technology that we are developing is a biocompatible,
ultra thin film coating to be applied to our first technology. We
our currently conducting collaborative research with a world-
class coatings group at the University of British Columbia. The
resulting ultra thin coat on the bare stent will act as a barrier
preventing the internal, irritating elements of the 316L
stainless steel stent from leaching out into the surrounding
areas. This ultra thin barrier will play a major role in
prevention of restenosis ' or a recurrence of the blockage of the
artery. The third technology we are developing ' again in
collaboration with the coatings group at the University uses the
ultra thin coat as a foundation to develop a thicker coat that
will deliver therapeutics accurately and will control dosages.
With this technology in place we will be testing next generation
pharmacotherapies for cardiovascular and non-vascular disorders
Tickers included in this excerpt: MIVT
For more information call (212) 952 7400. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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