MedMira Gains Market Traction in Eastern Europe and Latin America - Multiplo Triple Test to be Introduced as Market Expansion Continues
HALIFAX, April 15, 2008/CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a global market leader in premium rapid diagnostic solutions, announced today that it is gaining healthy market traction and realizing
steady sales of the company's rapid HIV tests in Eastern Europe and Colombia. To date two orders have been shipped to Romania and four orders to Colombia. MedMira's rapid HIV tests have received a very favourable response from the company's distributors and their customers in these markets
"Both our Romania and Colombia distributors are achieving positive sales results with our rapid HIV test and identifying emerging market opportunities for additional MedMira products. Demand for quality rapid diagnostics in these
markets will continue to grow and our reputation as a world class developer and manufacturer will ensure MedMira a lead position within the marketplace," said Hermes Chan, President & CEO of MedMira Inc.
MedMira's Eastern European distributor, S.C. Roned International S.R.L., plans to expand its diagnostics to other territories with the Multiplo(TM) Rapid HBV/HIV/HCV Antibody Test (Multiplo HBV/HIV/HCV). Multiplo HBV/HIV/HCV
is one of MedMira's newest generation rapid diagnostic tests, and can simultaneously detect antibodies to HIV and the hepatitis B and C viruses in a single drop of blood.
Chan continued, "We will be working closely with our distribution partners in Eastern Europe, Latin America, and other international markets to explore opportunities to introduce the Multiplo HBV/HIV/HCV test and expand MedMira's potential revenue streams."
The prevalence of HCV infection in HIV-infected patients has been found to be particularly high in Europe, where an average of 40% of HIV-infected are co-infected with HCV. HBV is 100 times more infectious than HIV, and more than 70% of HIV-infected people have been found to have a blood marker indicating past or present HBV infection (WHO, 2006). A higher risk of death is associated with individuals infected with HIV along with both HCV and HBV, making identification of these co-infections very critical in determining the best course of treatment (www.hivinsite.ucsf.edu).
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About MedMira
MedMira is a leading developer and manufacturer of flow-through rapid diagnostics. The company's tests provide hospitals, labs, clinics and individuals around the world with reliable, rapid diagnosis for diseases such as HIV and hepatitis C in just three minutes. The company's tests are sold under the RevealŽ, MiraWellŽ, MiraCareT and MultiploT brands in global markets. MedMira's rapid HIV test is the only one in the world to achieve regulatory approvals in Canada, the United States, China and the European Union.
In January 2006, MedMira launched the Maple Biosciences division to develop and commercialize diagnostic instruments based on two revolutionary biosensor-based technology platforms. The solutions developed by Maple Biosciences will enable routine laboratory tests to be performed in a matter of minutes, increasing laboratory automation, streamlining the diagnosis of multiple conditions and diseases and positioning MedMira to be a leading participant in the emerging fields of personalized medicine and molecular
diagnostics. For more information visit www.maplebio.com.
MedMira's corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada with a
representative office in China. Maples Biosciences' labs are located in Toronto, Ontario. For more information visit MedMira's website at www.medmira.com.
This news release contains forward-looking statements, which involve risk and uncertainties and reflect the
company's current expectation regarding future events. Actual events could materially differ from those projected herein and depend on a number of factors including, but not limited to, changing market conditions, successful and timely completion of clinical studies, uncertainties related to the regulatory approval process, establishment of corporate alliances and other risks detailed from time to time in the company quarterly filings.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.
Contacts:
Dr. James Smith, Investor Relations & Corporate Affairs
Tel: 902-450-1588
E-mail: ir@medmira.com
ir@medmira.com
"Reproduced with permission - MedMira"
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