Response Biomedical Corporation Reports 2007 Financial Results



    VANCOUVER, March 31 /CNW/ - Response Biomedical Corporation (TSX: RBM,
OTCBB: RPBIF) reported that it recorded total revenues of $4,084,116 and a net
loss of $13,901,041 or ($0.12) per share for the year ended December 31, 2007.
Additionally, the Company announced that as of December 31, 2007 it had
approximately $8.2 million in working capital. For a further discussion of the
Company's financial results for the year ended December 31, 2007, please refer
to the Company's audited consolidated financial statements and related
Management Discussion and Analysis, which can be found at www.responsebio.com,
SEDAR (Canada) www.sedar.com or EDGAR (US)
www.sec.gov/edgar/searchedgar/webusers.htm. Information at these sites is
typically available within 24 hours of the distribution of the news release.

    Corporate Update

    "I'm very happy to have joined Response Biomedical in September 2007,"
said S. Wayne Kay, CEO. "It has been an extremely interesting and invigorating
few months as we focused on finalizing two important submissions to the U.S.
Food and Drug Administration for clearance of both our RAMP(R) NT-proBNP Test
for diagnosis of congestive heart failure and our Rapid Influenza A+B Test
(Flu A+B). We have also concentrated our energy on pursuing a worldwide
marketing partner for our cardiovascular line of RAMP(R) rapid tests,"
continued Mr. Kay. "In conjunction with 3M Company, our work is ongoing to lay
the groundwork for the launch of the Flu A+B Test. 3M anticipates launching
prior to the 2008-09 flu season in certain markets around the world. We have
also initiated feasibility work on identifying the next infectious disease
tests for 3M to market."
    "We see 2008 as very promising. We see a growing emphasis on preventive
medicine and testing, which we believe will spur the demand for the adoption
of point-of-care diagnostics for screening, for emergency applications and for
monitoring the health status of the patient. As we have just moved to our new
state-of-the art facility and begin the scale-up of our manufacturing
capabilities to meet projected partners' demand, we believe the Company is
well-positioned to capitalize on these large and growing markets."

    About Response Biomedical

    Response Biomedical develops, manufactures and markets rapid on-site
diagnostic tests for use with its portable 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 portable fluorescent 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 and
congestive heart failure.
    In late 2006, the Company formed a strategic alliance with 3M Company to
commercialize rapid infectious disease tests. 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. The Company has achieved CE Marking and
its Quality Management System is registered to ISO 13485: 2003 and ISO 9001:
2000.
    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.

    Analyst Conference Call

    An Analyst Conference Call will be conducted today, March 31, 2008 at
5:30 p.m. Eastern Time/2:30 p.m. Pacific Time. Analysts and institutional
investors are invited to dial in to the call at 1-800-733-7571 or
604-677-8677. Media and all other interested parties are asked to listen to
the Web cast at:
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2167880. The Web cast
will be available for 90 days following the live transmission.

    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 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; 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 40-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.





For further information:

For further information: Bill Wickson, Manager, Investor Relations,
Response Biomedical Corporation, Tel (604) 456-6073, Email:
bwickson@responsebio.com; Brian Korb, Vice President, The Trout Group LLC,
Tel: (646) 378-2923, Email: bkorb@troutgroup.com

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RESPONSE BIOMEDICAL CORP.

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