HALIFAX, Nov. 29 /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 initial shipment of its recently
approved Multiplo(TM) Rapid HBV/HIV/HCV Antibody Test (Multiplo HBV/HIV/HCV)
to its distributor in the Russian Federation. Multiplo HBV/HIV/HCV is one of
MedMira's newest generation rapid diagnostic tests, and can simultaneously
detect antibodies to HIV and the hepatitis B and C viruses in a single drop of
This initial order, for 20,000 units of Multiplo HBV/HIV/HCV, is the
result of a collaborative business arrangement, initiated by the World Trade
Center (WTC) in Koeln, Germany, between itself, MedMira, and its Russian
distributor; Tandem Ltd. Tandem Ltd. is an experienced medical device
distributor with a strong distribution network in the Russian Federation and
former CIS states.
"Our Multiplo(TM) Rapid HBV/HIV/HCV Antibody Test is unique; and there is
no other similar product available in the global diagnostic market today,"
said Hermes Chan, President and CEO of MedMira. "Our Russian counterparts have
realized this, and had succeeded in obtaining regulatory registration from the
Russian Health Ministry, earlier this year, to fill a much-needed role in
Russian healthcare system."
Chan continued, "This initial shipment to Russia represents an important
step in our plan to develop strategic partnerships to bring the right products
to the right markets. The uniqueness of this niche product is expected to lead
into wide acceptance and subsequent increasing revenue to MedMira from the
Russian Federation and former CIS states."
First introduced at XVI International AIDS Conference in Toronto,
Ontario, in August 2006, the Multiplo(TM) product line includes a suite of
rapid diagnostic tests for the simultaneous detection of more than one disease
Russia has one of the fastest growing HIV rates in the world, with new
cases having increased 100-fold between 1997 and 2005 and representing up to
90% of all HIV cases in Eastern Europe (WHO, November 2006). According to the
WHO, 85% of registered HIV-infected individuals in the Russian Federation are
injection drug users; a major mode of transmission of both HBV and HCV. The
prevalence of HCV infection in HIV-infected patients has been found to be
particularly high in Europe, where an average of 40% of HIV-infected are
co-infected with HCV. HBV is 100 times more infectious than HIV, and more than
70% of HIV-infected people have been found to have a blood marker indicating
past or present HBV infection (WHO, 2006). A higher risk of death is
associated with individuals infected with HIV along with both HCV and HBV,
making identification of these co-infections very critical in determining the
best course of treatment (www.hivinsite.ucsf.edu).
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.
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