Medwell Increases Investment in Mimetogen

EDMONTON, July 18, 2013 /CNW/ - Medwell Capital Corp. (TSX-V: MWC) today announces that its wholly owned Medwell Healthcare Investments Limited Partnership ("Medwell LP") is increasing  its previously disclosed new investment in Mimetogen Pharmaceuticals Inc. (Mimetogen") from $400,000 to $800,000. In total, Medwell LP will have invested a total of $2.8m and will own 11.3% of Mimetogen on a fully diluted basis.

Mimetogen today announced that it has entered into a transaction with Bausch + Lomb in respect of its MIM-D3 technology for the treatment of dry eye syndrome. For details please see Medwell's website, or Mimetogen's website at www.mimetogen.com

About Medwell Capital Corp.

Medwell Capital Corp. is a Canadian-based investment and advisory firm. For further information please visit www.medwellcapital.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  This press release may contain forward-looking statements, which reflect the Company's current expectation regarding future events.  These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements.  Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation's ongoing quarterly and annual reporting.  We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


 

SOURCE: Medwell Capital Corp.

For further information:

Tony Hesby
Medwell Capital Corp.
780-413-7152
780-408-3040 Fax
E-mail: info@medwellcapital.com
Internet: http://www.medwellcapital.com

Ross Marshall
Investor Relations
416-815-0700 ext. 238
416-815-0080 Fax
E-mail:rmarshall@equicomgroup.com

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