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Miraculins Closes PREVU Skin Cholesterol Test Acquisition - Quick Facts

(RTTNews) - Miraculins Inc. (MOM.V) announced the completion of the acquisition from PreMD Inc. of all assets relating to the PREVU(i) Skin Cholesterol Test.

PREVU(i) is a simple, non-invasive, inexpensive test that addresses the major worldwide market of cardiovascular risk assessment. PREVU(i) has been cleared for sale in the US by the FDA and has also received regulatory clearance for sale in Canada and Europe and was test marketed in the US and Canada, the company added.

Christopher Moreau president and chief executive of Miraculins stated, "With the completion of the acquisition we can now begin to focus on implementing our plan to launch the PREVU(i) Skin Cholesterol Test and join the fight against cardiovascular disease, the leading cause of death worldwide."

As announced earlier, the purchase price for the PREVU(i) 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.