Controlling Shareholder of MedMira Announces Name Change and Addition of New Partners to Its Board
HALIFAX, Sept. 26, 2012 /CNW/ - MedMira Inc., (MedMira) (TSXV: MIR), a developer of rapid diagnostic technology and solutions, announced today that its largest and controlling shareholder, Andurja Beteiligungen AG has changed its name to OnSite Lab Holding AG (OnSite Lab). OnSite Lab has further partnered with a Luxembourg-based investment fund, Redalpine Capital II S.C.S., SICAR (Redalpine Capital), and a private investment company, RLG APS, located in Copenhagen to enhance its Board and investment focus in life science companies.
"The substantial investment we have made in MedMira represents our strong commitment, our focus, and a key element of our strategic plan. By changing our company's name to OnSite Lab Holding AG, we are moving a step closer to building an even stronger affiliation with MedMira. We are bringing the expertise of Redalpine and RLG APS on to our Board to provide additional industry capabilities to MedMira. Dr. Michael Sidler, partner at Redalpine Capital, has a wealth of experience in the life sciences and diagnostics industry and in linking science and business entities. RLG APS is led by Dr. H.P. Richard, a well established Swiss medical doctor will offer further assistance to MedMira for its expansion into new business opportunities and financing networks. We are committed to work with the Company's management and its Board to deliver the best value to all stakeholders of MedMira," said Urs Meile, Chairman of OnSite Lab Holding AG.
Meile continued, "Our investment in MedMira is a chance to be a part of an evolutionary shift in the rapid diagnostics market. We see MedMira as an investment that not only covers the humanitarian side but it is our strong belief that MedMira is one of the very few companies that will yield a high return on investment in today's market."
"We are excited about the in-depth life sciences and diagnostics industry knowledge, and business network brought by Dr. Sidler and Dr. Richard through OnSite Lab. We believe that their expertise will be invaluable in optimizing MedMira's strategic direction during the next phase of our growth," said Hermes Chan, CEO, MedMira Inc.
Dr. Sidler has been nominated as the board representative for OnSite Lab on MedMira's Board of Directors. This appointment is subject to final approval of the TSX Venture Exchange.
MedMira is a leading developer and manufacturer of flow-through rapid diagnostics and technologies. The Company's tests provide hospitals, labs, clinics and individuals with reliable, rapid diagnosis for diseases such as HIV and hepatitis C in just three minutes. The company's tests are sold under the Reveal®, Multiplo™ and Miriad brands in global markets. MedMira's rapid flow-through HIV test is the only one in the world to achieve regulatory approvals in Canada, the United States, China and the European Union. MedMira's corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada. For more information visit MedMira's website at www.medmira.com.
This news release contains forward-looking statements, including statements relating to growth in the Company's business, earnings and profitability, and trends in demand for the Company's products, which involve risk and uncertainties and reflect the Company's current expectation regarding future events including statements regarding possible future growth and new business opportunities. 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.
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.
SOURCE: MEDMIRA INC.For further information:
Andrea Young, Corporate Communications