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Miraculins, Cachet agree on letter of intent extension to continue talks for Scout DS diabetes test licensing in China.

M2 PHARMA-December 31, 2013-Miraculins, Cachet agree on letter of intent extension to continue talks for Scout DS diabetes test licensing in China

(C)2013 M2 COMMUNICATIONS

31 December 2013 - Canadian diagnostics company Miraculins Inc (CVE:MOM) said today it had agreed with its Chinese partner Cachet Pharmaceutical to a 30-day extension on their letter of intent to continue discussions about the licensing rights for Miraculins' Scout DS diabetes test in China.

Following the agreement, the original 90-day period has now been extended to 30 January, 2014. The Scout DS system is non-invasive test designed to measure diabetes related biomarkers in the skin.

Miraculins' president and chief executive Christopher Moreau commented that the companies agree that additional time is needed in order to pursue further talks.

Earlier in December, the firm said it had submitted pre-submission documentation to the US FDA for Scout DS System. Miraculins added that based on feedback from the agency it will develop appropriate study protocols in support of FDA approval.

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Date:Dec 31, 2013
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