M Pharmaceuticals Acquires eMosquito and Rights to Blood Glucose Self-Monitoring Device - Video Interview of Dr. Mintchev on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - February 20, 2015) - M Pharmaceuticals (CSE: MQ) has closed the acquisition of eMosquito, and has signed an arms-length agreement to acquire and commercialize the rights to the biomedical device for the self-monitoring of blood glucose.

For more information, a video interview of Dr. Martin Mintchev is available for viewing at InvestmentPitch.com. For additional information, there is also a more in depth video presentation by Dr. Mintchev. If these links are not enabled, please visit www.InvestmentPitch.com and enter "M Pharma" in the search box.

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The device, called the eMosquito, is designed to be a minimally-invasive skin penetration device to be used by diabetics. The objective of the eMosquito is to obtain whole blood samples by penetrating the skin to shallower depths and in less sensitive areas of the body.

Persons with diabetes have traditionally used the "finger prick" method to monitor/test their blood glucose levels, obtaining the blood sample by pricking the finger tip, a highly sensitive area of the body. The eMosquito is envisioned to be worn like a patch with small needles designed to puncture the skin just deep enough to draw blood without affecting the nerve endings and causing little or no pain.

The idea behind the technology is to have an integrated cuff-based device which automatically draws whole blood samples and monitors blood glucose levels on a regular basis. Integrated on a wrist-wear cuff, the Electronic Mosquito is composed of at least six single-use needles that "bite" sequentially at preprogrammed intervals.

A novel shape memory alloy based actuation mechanism will provide the driving force. Following that, a commercial strip-based sensor associated with each needle will measure glucose level in the blood sample withdrawn from the bite. Then, this data will be sent wirelessly to a remote device such as a smartphone for further data analysis, interpretation or even guiding the dosing decisions of an artificial pancreas. The patient merely has to replace the needles and the strips once per day.

M Pharma paid US$ 150,000 on closing, agreed to pay a 3% royalty on the commercial sale of any related products, and issued 8,066,670 common shares, which are subject to a 3 year escrow, with 10% being immediately releasable, and the balance in 6 equal installments over the next 3 years.

The company has also entered into an agreement to sell its remaining oil and gas and mining assets to an arms-length private company for a deemed price of $250,000, payable by the issue of 10,000,000 private company shares at a deemed price of $0.025.

The company is actively looking at other strategic medical devices to add to its portfolio so as to diversify its product mix and reduce market sector risk.

For more information, please visit the company's website www.m-pharma.ca, contact investor relations at 604-428-0511 or email info@m-pharma.ca.

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