Miraculins brings CSI to diabetic testing
Miraculins Inc. tasting sweetness of regulatory approvals, seeks market inroads for pre-diabetes, Type 2 diabetes screening device
Miraculins Inc. (TSXV: MOM) is tasting the sweetness of its Class 2 approval by Health Canada’s Medical Devices Bureau (and equivalent certifications in EU and Mexico) as it seeks market inroads with its flagship project, the Scout DSTM, a diabetes screening device that detects biomarkers present in the skin of pre-diabetic and Type 2 diabetic patients. The devise is non-invasive and painless to use: it performs its tests without needles, finger pricking, blood draw or the need to fast, or even waiting at the lab for a grumpy technician to stick a needle up your arm.
Speaking of grumpy technicians the fact that no prick is involved for the screening of diabetes is a significant point of difference. Conventional wisdom dictates that people are reluctant to engage into screening tests if they can be painful. But the Scout DSTM is painless. And this takes 90 seconds. Untreated diabetes is dangerous to patients and a significant burden to the health care system.
To explain how the device works we have to travel back to those awkward teenage dances in community centres. Remember the ubiquitous black lights? Remember how lint tended to glow in the dark and how some pieces of underclothing tended to change colors, sending the boys into breathless hormonal tizzies? The former phenomenon is called fluorescence whereas the latter is called adolescence. In practice every substance on earth has a unique fluorescence pattern (it emits lights of different colors when subjected to different wavelengths).
Think of a CSI episode when the high-heeled investigator turn off the lights and shine a black light to study blood splatter which lights up? This is also called fluorescence.
Thanks to fluorescence, Miraculins Inc is looking to speed up the detection of diabetes, saving the health care system significant coin.
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Miraculins is a Canadian biotechnology company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs to bridge the gap between promising diagnostic biomarker opportunities and the marketplace. It’s lead technology program aims at development and commercialization of non-invasive screening tests to assist in the detection of diabetes and coronary artery disease.
Miraculins acquired a technology that identifies skin markers that fluoresce under certain wavelengths. The device scans a patient’s skin and then proprietary algorithms calculate a single diabetes score. The score was derived from 16,000 tests in research trials and 4,000 tests in clinical settings: that’s a lot of people but this number is needed to develop reliable algorithms.
Miraculins reached revenue stage last September when it announced a deal that could eventually lead to as much as $90 million in revenue for Miraculins, Catalyn Medical Technologies Limited, a privately-owned and Hong Kong based medical device import company, has agreed to be the exclusive distributor in China of the Scout DS.
On November 27, 2014 Miraculins announced the closing of a private placement with proceeds of $1,320,000, to deploy its business strategy which includes the leasing and sale of medical devices and consumables to hospitals, clinics and pharmacies, as well as the provision of direct-to-public retail services and the delivery of employee health and wellness screening.
Dr. Luc C. Duchesne is a Speaker and Author with a PhD in Biochemistry. With three decades of scientific and business experience, he has published ... <Read more about Dr. Luc Duchesne>