Miraculins Finalizes Agreement Terms for Cachet Pharmaceutical to Distribute Scout DS(R) Diabetes Screening Test in China
25 Juni 2014 - 12:30PM
Marketwired
Miraculins Finalizes Agreement Terms for Cachet Pharmaceutical to
Distribute Scout DS(R) Diabetes Screening Test in China
Execution of Definitive Agreement Expected to Take Place within
30 Days
WINNIPEG, MANITOBA--(Marketwired - Jun 25, 2014) - 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, today announces that the Company has
finalized the major terms of a definitive agreement (the
"Agreement"), that would see the Scout DS® Diabetes Screening Test
distributed exclusively in China by Cachet Pharmaceutical Co., Ltd.
("Cachet"). These terms are substantially similar to those outlined
in the Company's term sheet announcement made January 31, 2014, and
include the placement of an initial order for Scout DS® devices
valued at $15 Million USD on the signing of the Agreement, to be
activated upon Chinese Food and Drug Administration regulatory
clearance.
"I am pleased to confirm that we have now finalized the major
aspects of the Agreement for the exclusive distribution of Scout
DS® in China by Cachet, and that the signatory parties have advised
of their intentions to proceed with the execution of the Agreement
within the next 30 days," said Christopher J. Moreau, President and
CEO of Miraculins Inc.
Coinciding with the anticipated timing of the signing of the
Agreement, a delegation from Cachet's senior management team in
Beijing is scheduled to arrive in Canada in mid-July and will be
conducting next stage distribution planning sessions with
Miraculins. The Chinese delegation will also be visiting the
production facility in the U.S. where the Scout DS® devices will be
manufactured, during their trip.
The key deal terms will be announced once the Agreement has been
executed. The execution of the Agreement remains subject to all
final corporate approvals of the parties. There is no assurance
that the parties will enter into the final Agreement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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 include statements regarding the settlement of agreement
terms, the execution of the final Agreement, the placement of the
initial order, and the impact of the final Agreement on the
Company. 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.
Scout DS® is a registered trademark of
Miraculins Inc. All Rights Reserved. 2014.
Miraculins Inc.Christopher J. MoreauPresident &
CEO204-477-7599204-453-1546info@miraculins.comwww.miraculins.com
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