Response Biomedical Corporation Delivers Record Preliminary Revenues in First Quarter



    Revenues Grow 115% Over Q1 2008

    VANCOUVER, April 20 /CNW/ - Response Biomedical Corporation (TSX: RBM,
OTCBB: RPBIF) today announced preliminary unaudited revenues for the
three-month period ended March 31, 2009. First quarter revenues increased 115%
to approximately $2.526 million compared to $1.173 million for the same period
in 2008. This represents the highest revenues for any quarter in the Company's
history and, as expected, includes a significant contribution by the Roche
Diagnostics launch of our RAMP(R) Cardiac products in the U.S. Increased
revenues and reduced expenses are expected to result in a significantly lower
loss for the three-month period ended March 31, 2009 as compared to the same
period in 2008. Complete first quarter 2009 unaudited interim financial
results are expected to be released on May 15, 2009.
    "Our exceptional performance this quarter shows that our strategy is
working," said S. Wayne Kay, CEO, Response Biomedical. "Our blue-chip partners
are placing orders to support the launch of our infectious diseases and
cardiovascular products into the U.S. and we are developing new alliances,
such as the one announced last month with FIND, for additional uses of our
technology platform. We are pleased that our revenues in the first quarter of
2009 are in line with our expectations and we anticipate continued strong
year-over-year revenue growth as we move towards profitability. We believe
that these results will be of great assistance in our efforts to address our
current financing needs. Our success is due to the tireless and outstanding
work of our employees and the steadfast commitment of our partners."

    About Response Biomedical

    Response Biomedical develops, manufactures and markets rapid on-site
diagnostic tests for use with its RAMP(R) Platform for clinical and
environmental applications. RAMP(R) represents a new paradigm in diagnostics
that provides high sensitivity and reliable information in minutes. It is
ideally suited to both point of care testing and laboratory use.
    The RAMP(R) system consists of a Reader and single-use disposable test
cartridges, and has the potential to be adapted to more than 250 medical and
non-medical tests currently performed in laboratories. RAMP(R) clinical tests
are commercially available for the early detection of heart attack, congestive
heart failure and influenza through our commercial partners, Roche and 3M
Health Care respectively.
    In the non-clinical market, RAMP(R) Tests are currently provided for the
environmental detection of West Nile Virus, and Biodefense applications
including the rapid on-site detection of anthrax, smallpox, ricin and
botulinum toxin. Several other product applications are under development.
    Response has achieved CE Marking for its Reader and clinical tests and
its Quality Management System is registered to ISO 13485: 2003 and ISO 9001:
2000. The RAMP(R) Influenza A/B Assay and RAMP 200 reader are not yet licensed
for clinical use in Canada.

    Response Biomedical is a publicly traded company, listed on the TSX under
the trading symbol "RBM" and quoted on the OTC Bulletin Board under the symbol
"RPBIF". For further information, please visit the Company's website at
www.responsebio.com.

    Statements contained in this press release relating to future results,
events or developments, for example, statements containing the words
"believes," "may," "could", "plans," "will," "estimate," "continue,"
"anticipates," "intends," "expects", "goal" and similar expressions, are
"forward-looking statements" or "forward-looking information" under applicable
United States and Canadian securities laws. Forward-looking statements or
information may involve, but are not limited to, comments with respect to our
planned activities, business plan and strategies and their future
implementation, and our expectations for our financial condition and the
results of, or outlook for, our business operations generally. Forward-looking
statements or information are subject to the related assumptions made by us
and involve known and unknown risks, uncertainties and other factors that may
cause actual results, events or developments to be materially different from
those expressed or implied by such statements or information.
    Many of such risks, uncertainties and other factors form part of our
underlying assumptions, and include, among other things, financial risks that
would affect our operations such as our limited available working capital and
cash flows and whether and for how long available funds will be sufficient to
fund our operations and our ability to raise additional capital as and when
needed; our need for substantial additional funding to conduct research and
development and commercialization activities; current financial market
conditions which may negatively affect our ability to obtain financing; our
ability to meet the continued listing requirements of the TSX under its
ongoing delisting review; changing facility costs and other risks relating to
our facilities expansion plans; our ability to establish, and our dependence
upon, relationships with strategic alliance partners to develop and
commercialize products; technological changes that impact our existing
products or our ability to develop and commercialize our products; our ability
to obtain and enforce timely patent and other intellectual property protection
for our technology and products; our ability to obtain and maintain rights to
technology from licensors; liability for patent, product liability and other
claims asserted against us; commercialization limitations imposed by patents
owned or controlled by third parties; technical risk in research and
development; adverse results or unexpected delays in product development and
clinical trials; our ability to retain, and our reliance upon, third party
suppliers, manufacturers, distributors and alliance partners; our ability to
attract and retain qualified personnel; our ability to effectively and
efficiently manage the planned growth of our operations; our ability to
obtain, and the timing of, necessary regulatory approvals; our ability to
profitably sell our products at prices that would be acceptable to third-party
reimbursement programs; competition including competition from others with
significantly more resources; market acceptance of our products and the size
of our markets; changes in business strategy or development plans; changes in,
or the failure to comply with, governmental regulations; fluctuations in
interest rates and foreign exchange rates; seasonality including government
budget cycles; general economic and business conditions where we operate; and
other factors referenced in our annual report, our Annual Information Form
(AIF) (Form 20-F in the U.S.) and other filings with Canadian and United
States securities regulatory authorities.
    Given these uncertainties, assumptions and risks, readers are cautioned
not to place undue reliance on such forward-looking statements or information.
We disclaim any obligation to update, or to publicly announce any revisions
to, any such statements or information to reflect future results, events or
developments, except as required by law.





For further information:

For further information: Bill Wickson, Director, Investor Relations,
Response Biomedical Corporation, Tel (604) 456-6073, Email:
bwickson@responsebio.com

Organization Profile

RESPONSE BIOMEDICAL CORP.

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