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

market. There are striking similarities with the SCOUT and PreVu. It's non-invasive and it involves taking a reading of the skin, and even though the two tests are different what I found interesting was that we are looking for a risk marker for heart disease, and the SCOUT is identifying people who are pre-diabetic, since diabetes is also a risk factor for heart disease.”

“In today's technologically advanced world, tests that are non-invasive will be the future, so it was interesting that PreVu was being represented by Pear Healthcare while they were simultaneously representing the SCOUT,” Moreau says.

Miraculins partnered with Pear Healthcare last year and initially launched a PreVu pilot program with London Drugs, one of western Canada’s leading pharmacy chains, in the fall of 2012. Based on the success of that pilot, London agreed to offer the PreVu test at one day rotating clinics at all of its 76 locations. Miraculins then secured a launch agreement with the 350 store PharmaChoice pharmacy network earlier this year to introduce the PreVu test in Ontario and Atlantic Canada in the spring of 2013, through a Phase One launch in up to 50 of its stores, with the hope of expanding the program to all of the stores in the fall.

“About three months ago we heard that a private US based company called Veralight, the owners and developers of the SCOUT, were having financial difficulty,” Moreau says.

“We reached out to them and we emerged as the lead potential merger and acquisition partner for this technology. A significant factor in having Miraculins considered as a potential acquirer of the Scout is that many of the markets we envision selling the PreVu test into would be identical for the SCOUT. From that context, we think it's a good fit because we can assume the operational aspects of the SCOUT by only adding incremental costs to our overhead and without dramatically adding to our sales and marketing budget.”

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