MIV Therapeutics Inc. to Sell Israeli Subsidiary SagaX

Published: Nov 21, 2007

MIV Therapeutics, Inc. (OTCBB: MIVT) (FRANKFURT: MIV), a leading developer of next-generation coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, made public that it has entered into a definitive Share Purchase Agreement to sell all of its issued and outstanding shares of SagaX Inc. ("SagaX") in consideration of the repayment of $4.0 million plus future royalties on sales of 8.0%. The payments will be made in increments of $1.0 million upon the achievement of various equity financing parameters which may be met by SagaX over a four-year period from closing.

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