Miraculins Executes Agreement for the Sale and Distribution of Up to $90 Million USD in Scout DS® Diabetes Screening Devices in China

WINNIPEG, MANITOBA--(Marketwired - Aug. 14, 2014) - Miraculins Inc. (TSX VENTURE:MOM) ("Miraculins" or the "Company"), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs, today announces that it has executed a definitive agreement (the "Agreement") for the sale and distribution of Scout DS^® diabetes screening devices into China with Catalyn Medical Technologies Limited ("Catalyn"), a privately-owned and Hong Kong based medical device import company. Cachet Pharmaceutical Co., Ltd. ("Cachet") has been co-appointed as the exclusive distributor of the Scout DS^® devices in Mainland China by Miraculins and Catalyn.

The Scout DS^® device is the world's first non-invasive and highly-sensitive testing device designed to measure diabetes related biomarkers in the skin to help detect pre-diabetes and type 2 diabetes. It does not require a blood draw or fasting and generates a result in as little as 80 seconds. The Scout DS^® device uses visible light to measure the optical signature of fluorescent biomarkers in the skin, the accumulation of which are accelerated by abnormal blood sugar levels and oxidative stress.

Cachet is a 4 Billion RMB market cap (or about $655 Million USD) wholesale/retail drug distribution and medical device distributor, with over 2.5 Billion RMB (or about $410 Million USD) in annual sales in China. Cachet's largest shareholder, the China Youth Industrial Development Corporation, is owned directly by the Central Committee of the Communist Youth League of China. Cachet is also listed on the Shenzhen Stock Exchange (stock name: Cachet; stock code: 002462).

"I am very pleased to confirm that Miraculins has now executed an agreement that allows for the sale and distribution of Scout DS^® devices into China, which represents a significant potential revenue stream for the Company over the term of the agreement," said Christopher J. Moreau, President and CEO of Miraculins Inc. "With Cachet Pharmaceutical appointed as our exclusive distributor for Mainland China, we are confident that we have the right partner in place to penetrate the marketplace and bring this new testing technology to millions of Chinese at risk and in need. This is truly a transformative agreement for Miraculins and for the Scout DS^® device as a ground-breaking disease screening technology."