Engages Boston-based Life Science Investment Bank
HALIFAX, June 28 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,
NASDAQ: MMIRF), a global market leader in premium rapid diagnostic solutions,
announced today that it has engaged Johnston Blakely & Company, LLC, of
Boston, Massachusetts, to assist the company to explore strategic alternatives
with respect to the company's patented, flow-through rapid testing
technologies. Johnston Blakely & Company, LLC, has been mandated to help the
company to identify various strategic opportunities to enhance the company's
overall performance and increase shareholder value.
The company's patented technology consists of an innovative rapid
flow-through diagnostic device, assay, and multifunctional buffer reagent,
which enables users to detect multiple target analytes in a single sample,
using only the materials provided. Test results are available immediately upon
completion of the testing procedure, approximately three minutes or less,
providing critical answers when time really matters. MedMira's tests are sold
under the Reveal(R), MiraWell(R), MiraCare(TM) and Multiplo(TM) brands.
"MedMira's patented flow-through technology is one of the only two
recognizable rapid diagnostic platforms available in the global markets, with
the other being the lateral flow platform," said Hermes Chan, President and
CEO of MedMira. "MedMira is the only company can offer a patented and fully
proven rapid flow-through diagnostic platform to the market."
"We are very excited to work closely with MedMira's Board and senior
management team, and are confident that we can expand the current business by
providing additional strategic alternatives to further grow the company," said
Benjamin Conway, Managing Director of Johnston Blakely & Company, LLC. "The
product development potentials of this unique diagnostic platform are almost
unlimited and it currently provides the only alternative to lateral flow
technology for global diagnostic players."
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 Reveal(R), MiraWell(R), MiraCare(TM) and Multiplo(TM) 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
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.
About Johnston Blakely & Company, LLC
Johnson Blakely & Company, LLC is a Boston-based investment bank offering
private equity placement and merger and acquisition-related financial advisory
services exclusively to companies in the life sciences sector. The firm
incorporates the venture capital tradition of comprehensive company
involvement into investment banking engagements to delivery superior results
for its clients. Johnson Blakely & Company, LLC is a registered broker dealer
and member of NASD/SIPC.
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.
For further information:
For further information: Dr. James Smith, Investor Relations & Corporate
Affairs, (902) 450-1588, firstname.lastname@example.org