MedMira Awarded Funding to Develop Dual Antigen-Antibody Rapid Test for Earlier Detection of HIV
HALIFAX, April 12, 2012 /CNW/ - MedMira Inc., (MedMira) (TSXV: MIR), a developer of rapid diagnostic technology and solutions, announced today that the National Research Council of Canada has entered into a funding agreement with MedMira for the development of a new rapid HIV test platform that will capture both antigens and antibodies and provide an earlier diagnosis for patients exposed to HIV. This early detection reduces the risk of missing infected individuals that are in an early stage of the disease that is not yet detectable by other common testing methods.
The funding for the 16-month project comes from National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) Canadian HIV Technology Development (CHTD) Program, which aims to encourage and support the participation of small and medium-sized enterprises in the development of an HIV vaccine and other technologies related to the prevention, treatment and diagnosis of HIV. The program is part of the Canadian HIV Vaccine Initiative (CHVI), a collaborative effort between the Government of Canada and the Bill & Melinda Gates Foundation.
"MedMira welcomes the funding from the NRC-IRAP through the CHTD Program on this project that will further advance rapid HIV diagnostics, a key tool in the control and prevention of the spread of HIV," said Hermes Chan, CEO, MedMira Inc. "Building on the Company's patented technology platform, commitment to quality, and proven performance, MedMira will develop and commercialize a comprehensive dual rapid HIV test. Healthcare providers will be equipped with an advanced diagnostic tool that can meet their testing needs in a variety of settings, from the most sophisticated care access point to remote mobile clinics in developing regions of the world."
Chan continued, "This project further strengthens MedMira's technology platform development, enabling the Company to create advanced dual diagnostics that increase operational efficiencies for users, provide a broader scope of patient information from a single testing point, and ultimately enable the delivery of better healthcare."
MedMira is a leading developer and manufacturer of flow-through rapid diagnostics. 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, 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.
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Andrea Young, Corporate Communications