They’re not saying how much it is but Winnipeg medical diagnostic company, Miraculins Inc., received its first payment from a distribution deal finalized earlier this year with a Chinese company.
In a deal that could eventually lead to as much as $90 million in revenue for Miraculins, Catalyn Medical Technologies Limited, a privately-owned and Hong Kong based medical device import company, has agreed to be the exclusive distributor in China of Miraculins’ Scout DS diabetes screening devices.
The Scout DS device is a 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.