ATLANTA--(BUSINESS WIRE)--MIV Therapeutics Inc. (OTCBB:MIVT) (FWB:MIV), a developer of next-generation biocompatible coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, announced today that it has entered into an agreement with various institutional investors for the unregistered private placement of an aggregate of 25,100,000 units at a price of $0.50 per unit for a total purchase price of $12.55 million, before deducting placement agent fees and offering expenses. Each unit consists of one share of common stock and one-half of one share purchase warrant exercisable at a price of $0.55 per share for a period of five years. The transaction is expected to close on or about July 10, 2007, subject to the satisfaction of certain customary closing conditions.
