Miraculins Inc., a medical diagnostic company focused on developing and commercializing diagnostic tests for unmet clinical needs, announced that it has completed the acquisition from PreMD Inc. of all assets relating to the PREVU* Skin Cholesterol Test. PREVU* is a simple, non-invasive, inexpensive test that addresses the major worldwide market of cardiovascular risk assessment. PREVU* has been cleared for sale in the US by the FDA (Food and Drug Administration). It has also received regulatory clearance for sale in Canada and Europe and was successfully test marketed in the US and Canada.
"With the completion of the acquisition we can now begin to focus on implementing our plan to launch the PREVU* Skin Cholesterol Test and join the fight against cardiovascular disease, the leading cause of death worldwide," said Christopher J. Moreau president and CEO of Miraculins. "Miraculins looks forward to creating value for our shareholders as we work to realize our vision for this product."
As previously announced, the purchase price for the PREVU* Skin Cholesterol Test consists of a combination of cash, shares of Miraculins and an ongoing royalty. Miraculins has the right to buy-out the ongoing royalty at anytime for a one-time cash payment.
Source: Miraculins, Inc.