MedMira China Partner Places Order for 400,000 Rapid HIV Tests
Company's test rated as the top performer in China National CDC evaluation
HALIFAX, April 4 /CNW/ - MedMira Inc., ("MedMira") (TSXV: MIR) (NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and solutions, today announced that the Company's strategic partner in China, Triplex International Biosciences Co., Ltd. (Triplex), has placed an initial order for 400,000 MedMira rapid HIV tests.
This order follows the completion of a critical evaluation recently completed by the China National Center for Disease Control (China CDC) for all the imported and domestic rapid HIV tests. The evaluation looked at 12 of the leading rapid HIV tests available in China and ranked performance in both sensitivity and specificity using selective critical specimen panels. The MedMira rapid HIV test ranked number one out of the 12 tests evaluated in the study. These evaluation results are a key marketing tool as Triplex moves forward on sales opportunities in the outreach clinics and hospital laboratory vertical markets in the high growth rapid diagnostics market within China's restructured healthcare system.
This is the first sizeable order from Triplex since they began market development activities for MedMira in China. MedMira has begun the production of this initial order to supply to Triplex during this expansion phase of its business development initiatives.
"We are pleased to see our test continues to perform as the top performer among all the available rapid tests in China and excited about this initial order. This marks the beginning of our re-emergence in the new China healthcare market. For the past several years China's healthcare system has been undergoing significant restructuring. As the new health system is rolling out across China we are very well positioned with a strong partner in Triplex, access to the market, and a world class rapid HIV test," said Hermes Chan, CEO, MedMira. "The Triplex business development team has been working on various market development initiatives in China in parallel with the health system reforms. Building on the extremely positive results of this evaluation and subsequent top level positioning of our product, MedMira and Triplex joint business development team can fully capitalize on near term sales opportunities in China."
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 infectious diseases in minutes. MedMira diagnostics are sold under the Reveal®, MiraWell®, Multiplo™, and Miriad 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. 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, 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.
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MedMira Contact: Andrea Young