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Financial Press: Miraculins Leads Future of Global Health Tech Innovation
Date:4/18/2013

Vancouver, BC (PRWEB) April 18, 2013

Diabetes rates in Canada have doubled over the past decade, with one in every three Canadians projected to have either diabetes or pre-diabetes by 2020. The shocking statistics were published this month by the Canadian Diabetes Association, which advised all health care professionals to screen wisely and diagnose precisely to help doctors identify the disease quicker.

The latest figures from the International Diabetes Federation reveal that currently 366 million people have diabetes worldwide, and 4.6 million deaths are due to diabetes. A staggering US$ 465 billion is spent on care for diabetes across the globe. This disease is one of the century’s greatest health challenges and remains on a relentlessly upwards trajectory. Both organizations agree that early and reliable diabetes testing is one measure that could potentially save more lives.

Enter Miraculins Inc., a Canadian medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs, which has just announced it has signed a Term Sheet to acquire an innovative non-invasive screening test for diabetes that is already approved for sale in Canada and Europe.

The SCOUT system is the first non-invasive diabetes screening system designed to provide a highly sensitive and convenient method for screening for pre-diabetes and type 2 diabetes based on the presence of diabetes-related biomarkers found in skin. Unlike current screening methods, a SCOUT test requires no blood draw, no fasting, and no waiting for a lab result.

“The SCOUT represents an exceptional opportunity for Miraculins,” says Christopher J. Moreau, Miraculins CEO and president. “It adds to our story and builds on our value equation of offering non-invasive screening technology. We have been in negotiations for some time with the owners to acquire the SCOUT -
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