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Exhibit 99.4


      MIV THERAPEUTICS DRUG-ELUTING STENT COATING ACHIEVES NSERC MILESTONE


SEPT. 24, 2003 VANCOUVER, BC


MIV Therapeutics Inc. (MIVT:OTCBB & MIV:BE) has received a mid-point milestone
interim progress report from the University of British Columbia (UBC) on the
development of its proprietary HAp (hydroxyapatite) multi-layer coating with
drug-eluting capabilities. The program, entitled "Functionally Gradient Calcium
Phosphate Coatings for Stents" is conducted jointly by the University of British
Columbia and MIVI Technologies Inc., a wholly-owned subsidiary of MIV
Therapeutics, Inc under the Collaborative Research and Development (CRD) grant
received from the Natural Sciences and Engineering Research Council of Canada
(NSERC).


PROGRAM ACHIEVEMENTS

     o    Reproducible deposition of sub-micron HAp coatings

     o    Integrity of sub-micron coating upon expansion

     o    Suitability of porous coating for drug encapsulation

Dr. Tom Troczynski, MIVT's Vice President of Coatings and an internationally
recognized expert on ceramic coatings summarized: "We have achieved the
objectives for the first half of the 1-year R&D NSERC program. This component
focused on the evaluation of the mechanical properties of HAp thin films
including resistance to deformation, adhesion properties, strain tolerance and
surface preparation. The research work on multi-layer coating applications is
progressing on schedule. Our deposition methods have shown promising results
with respect to nano-porosity and drug encapsulation for drug-eluting stents."

President and CEO Alan Lindsay stated, " We are very pleased with the progress
of our research and development work. Achieving this milestone further endorses
the company's belief that our coating is the next generation technology with the
potential to become the ideal coating for Stent Delivery Systems. The industry
is seeking cost-effective solutions for the problem of restenosis (re-narrowing
of coronary arteries after angioplasty) and we intend to provide those solutions
with our technologies. Our technology successfully passed animal trials on our
unique bio-compatible nano-film coating on both stainless steel and
cobalt-chromium stents. The trials were independently conducted by the Toxicon
Corporation to evaluate thrombogenicity (blood clotting) in coronary blood
vessels. These results have provided us with important scientific data that
paves the way toward the commercialization of drug-eluting solutions as well as
an affordable single-layer, non-drug eluting coating with anti-restenotic
properties".

Vice President Operations, Arc Rajtar, commented: "Our collaboration with UBC
has opened several doors for the further development of the unique properties of
HAp. The MIVT engineering team is complementing UBC's scientific research with
the development of our Engineered Drug Eluting SystemO (EDES). The EDES is a
customizable drug eluting profile based on our multi-layer HAp coating that can
be individually tailored to suit patient needs. We are encouraged by the
progress our collaborative team has made. The outcomes of the first half of the
NSERC program we started in November 2002 have been positive and we are on track
to complete our program objectives."


ABOUT THE UNIVERSITY OF BRITISH COLUMBIA (UBC)

UBC, located in the Pacific Rim gateway of Vancouver, Canada, ranks in the top
10 of North American universities in technology licensing and commercialization,
and generates more U.S. patent applications than any other Canadian public
institution.


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ABOUT MIV THERAPEUTICS

MIV Therapeutics is developing a "next generation" line of advanced
biocompatible stent coatings and therapeutics for stent-based drug-delivery
systems. The Company has completed development of a line of proprietary coronary
stents for use in angioplasty procedures and is in late-stage development of its
HAp (hydroxyapatite) stent coating technology, licensed from the University of
British Columbia. In addition, MIVT's manufacturing facility maintains a
comprehensive QA (Quality Assurance) system which meets the guidelines of ISO
9001 (1994) and ISO 13485 (1996) requirements, complies with applicable FDA
guidelines and applicable GMP requirements and is capable of private label
manufacturing and out sourcing.

EXCEPT FOR THE HISTORICAL INFORMATION CONTAINED HEREIN, THE MATTERS DISCUSSED IN
THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS. SUCH STATEMENTS ARE INDICATED
BY WORDS OR PHRASES SUCH AS "BELIEVE", "WILL", "INTEND", "SIGNIFICANT",
"POSITIVE", "FEEL", "PROMISING", "SHOULD", "PROMISING", "ENCOURAGED" AND
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THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ACTUAL RESULTS MAY DIFFER
MATERIALLY FROM THOSE DESCRIBED IN FORWARD-LOOKING STATEMENTS AND ARE SUBJECT TO
RISKS AND UNCERTAINTIES. SEE THE COMPANY'S FILINGS WITH THE SECURITIES AND
EXCHANGE COMMISSION INCLUDING, WITHOUT LIMITATION, THE COMPANY'S RECENT FORM
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RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE
FORWARD-LOOKING STATEMENTS.