Introduction to Miraculins
Winnipeg-based Miraculins (OTC:MCUIF) (or TSX-V: MOM) is a medical device company focused on developing non-invasive diagnostic tests and risk assessment technologies that address unmet clinical needs. The company's two primary medtech programs are in the early commercialization phase in the areas of diabetes and cardiovascular disease.
The diabetes program is focused on the Scout DS® non-invasive diabetes screening test, the first non-invasive diabetes screening system designed to provide an accurate, reliable, and convenient method for diabetes screening based on related biomarkers present in the skin. The technology has previous commercial sales outside of the U.S., and Miraculins is working to continue to build momentum in the marketplace.
Miraculins cardiovascular disease program is focused on the PreVu® Non-Invasive Skin Cholesterol Point-of-Care ("POC") Test, a non-invasive tool to assist with the risk assessment of coronary artery disease ("CAD").
The introduction of new medical device technology into the marketplace is a complex and multi-faceted process that often involves long buying cycles and requires multiple pilot testing programs. These pilot programs, which allow for market feedback to be secured under controlled distribution scenarios, provide important information ahead of future commercial launches. Different market segments require different strategies and different levels of investment to successfully penetrate. This is largely where the company is at now - figuring out a marketing strategy. The technology has been developed and built, now the company needs to focus on sales and distribution in international markets, particularly Europe, Canada and Mexico, while working towards achieving FDA clearance in the U.S., and CFDA approval in China.
