One Million Quality Flow-Through HIV Tests Poised to Enter Indian Market
HALIFAX, Sept. 26 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,
NASDAQ: MMIRF), a global market leader in premium rapid diagnostic solutions,
announced today that it has completed the regulatory registration process in
India, resulting in receipt of approval to market and a license to import its
rapid HIV test from the Central Drugs Standard Control Organisation ("DCAI").
An initial shipment of product was sent for evaluation by DCAI earlier this
year which resulted in an overall accuracy of 100%. MedMira's strategic
distribution partner, Venkateshwara Hatcheries Pvt. Ltd (VHPL) will
immediately start the importing process for its one million unit initial
order, which will provide the Indian market with the fastest, quality
flow-through HIV test that can test whole blood, serum and plasma - a truly
all-in-one rapid test.
"Today's announcement represents another significant outcome in our
tactical plan. The building of such influential strategic partners enables our
patented rapid flow-through technology to reach its full global market
potential," said Hermes Chan, President and CEO, MedMira. "This success in
India, coupled with our recent formation of a licensing partnership with
HealthCare Asia MediTech Ltd (HCA) are significant steps forward in MedMira's
ability in gaining positive traction towards strong potential growth."
Chan continued, "VHPL is the right partner to assure full penetration of
MedMira's rapid HIV test into the lucrative Indian diagnostic market, and we
are confident that great success will be achieved."
"India's requirements for fast, high-quality rapid HIV diagnostics are
clear and are continuing to increase with our Central Government's ongoing HIV
prevention initiatives," said, Anuradha J. Desai, Chairperson, Venkateshwara
Hatcheries Pvt. Ltd, that will focus on the sales and marketing of MedMira's
rapid HIV test. "The faultless performance of MedMira's rapid HIV test in the
recent DCAI evaluation has provided us with the final "on-the-ground" evidence
that will help us bring this test to the top of the Indian HIV Testing market.
We very much look forward to joining with MedMira to share in this success."
India is poised to become an economic superpower that could someday rival
the US and China. According to the EconomyWatch, India, which is now the
fourth largest economy in terms of purchasing power parity, will overtake
Japan and become the third major economic power within 10 years. With the
number of HIV-infected in India estimated to be 2.5 - 3 million (WHO, 2007),
the Indian Central Government is currently scaling up and improving its HIV
surveillance and prevention systems throughout the region in an effort to curb
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 Venkateshwara Hatcheries Pvt. Ltd
Venkateshwara Hatcheries Pvt. Ltd occupies a special place in the Indian
industry scene. It pioneered the concept of purelines, SPF technology and
poultry diagnostic services. The biotechnology oriented group has strong
background in areas of vaccinology and diagnostics. The vision of the group
lies in providing quality healthcare to the people at an affordable cost. This
highly successful conglomerate has been recently listed as one of the top 35
biotechnology companies in India by the Indian Biotechnology Handbook 2007.
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, email@example.com