Miraculins Inc. Launches ELISA Kit for Detection of PSP94 in Urine and Announces Distribution Agreement With GenWay Biotech, Inc.

WINNIPEG, MANITOBA--(Marketwire - August 11, 2010) - Miraculins Inc. (TSX VENTURE: MOM), a medical diagnostic company focused on developing and commercializing diagnostic tests for unmet clinical needs, is pleased to announce the launch of its PSP94 Immunoassay for Urine Specimens, a research use only (RUO) tool utilizing enzyme linked immunosorbent assay (ELISA) for the detection of PSP94 in urine. The Company is also pleased to announce the signing of a one-year non-exclusive distribution agreement with GenWay Biotech for the world-wide sales and marketing of the immunoassay.

Prostate Secretory Protein (PSP94) is the lead marker from Miraculins' prostate cancer program and has been the subject of research by Miraculins for a number of years. PSP94, also known as beta-microseminoprotein, or inhibin-like peptide, is a basic 94 amino acid protein found in high concentration in the epithelial cells of the prostate. The marker has been examined in independent literature for its potential to be a cancer biomarker and was found to be decreased in the 24 hour collection of urine from men with late stage tumors compared to men with enlarged prostate or benign prostatic hyperplasia (Teni TR, et al, Clin Chem 1989: 35; 1376-79). Miraculins has completed a number of studies which have added to the growing body of evidence that levels of PSP94 are decreased in the urine of men with prostate cancer. Further research is needed to confirm the utility of PSP94 as a biomarker in this setting.

The Miraculins PSP94 ELISA kit has been developed to allow researchers to expand on these findings in a simple rapid test. The kit includes a precoated 96 well plate of anti-PSP94, an anti-PSP94 peroxidase conjugate, a 12 ng/mL PSP94 calibrator, wash buffer, assay buffer, color developer and a stop solution. The Miraculins PSP94 ELISA kit has shown extremely high sensitivity thereby minimizing the effect of potential interfering substances. The coefficient of variation (CV) for the assay is less than 7% and the dilution linearity of urine is a nearly perfect correlation coefficient of 0.999.

"We are impressed with the potential of the PSP94 marker and the quality of the Miraculins kit," stated Matthew Landry, Vice-President of Sales and Marketing for GenWay Biotech. "GenWay is excited about making this product available to our extensive customer base."

"This product provides a robust means of determining PSP94 in urine and will allow for the further study of PSP94 in research settings," said Christopher J. Moreau, president and CEO of Miraculins Inc. "Adding the dedicated and knowledgeable sales, marketing and distribution capabilities of a partner like GenWay is an important step towards our goal of making our test widely available to the academic community throughout the world and encouraging further study of PSP94 in preclinical and non-clinical settings."

The PSP94 Immunoassay for Urine Specimens in ELISA format will be available for order on the Miraculins website at www.miraculins.com and on the Genway website www.genwaybio.com in the near term. The product is intended for research use only and is not intended to be used in diagnostic procedures.

About GenWay Biotech

GenWay Biotech, Inc. is a biotechnology company based in San Diego, CA that supplies proteomic reagents such as antibodies, antigens and assays to the research and diagnostic community. The Company's proprietary technology platform specializes in producing avian IgY antibodies from proteins of human, animal, plant, bacterial and other sources. More than 50,000 products are available from the Company's catalog. GenWay is also actively developing novel diagnostic tests in the field of cardiovascular and sexually transmitted disease diagnostics. GenWay has a CLIA-certified CAP accredited laboratory which performs novel testing services for physicians.

About Miraculins Inc.

Miraculins is a medical diagnostic development company focused on non-invasive tests for unmet clinical needs. Miraculins is bridging the gap between commercially available diagnostic tests and research conducted at leading research institutions around the world. The Company's lead program, a suite of biomarkers for preeclampsia, is partnered with Inverness Medical Innovations (now Alere, Inc.) (NYSE: ALR), one of the world's largest diagnostic companies. Miraculins has also recently completed the definitive agreement to acquire the PREVU™ Skin Cholesterol Test, an FDA cleared product for cardiovascular risk assessment. For further information please visit Miraculins website at www.miraculins.com.

Caution Regarding Forward-Looking Information.

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

These statements reflect management's current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: the satisfaction of all of the closing conditions of the transaction, Miraculins' early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in Miraculins' filings with Canadian securities regulatory authorities, as well as Miraculins' ability to anticipate and manage the risks associated with the foregoing. Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found in the body of this news release. Miraculins cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on Miraculins' forward-looking statements to make decisions with respect to Miraculins investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Miraculins cannot provide assurance that actual results will be consistent with these forward-looking statements. Miraculins undertakes no obligation to update or revise any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Contacts:
Miraculins Inc.
Christopher J. Moreau
President and CEO
204-477-7599
204-453-1546 (FAX)
ir@miraculins.com
www.miraculins.com

CHF Investor Relations
Neil Murray-Lyon
Senior Account Manager
514-473-4715
neil@chfir.com

CHF Investor Relations
Alison Tullis
Senior Account Manager
416-868-1079 x233
416-868-6198 (FAX)
alison@chfir.com

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