HALIFAX, July 16 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,
NASDAQ: MMIRF), a developer and marketer of rapid diagnostics, announced today
that it received a Notice of Allowance from the United States Patent and
Trademark Office for its rapid flow-through test (RFT) methodology, the
technology platform its rapid tests are built on.
This patent protects the core innovation behind MedMira's fully
commercialized line of rapid tests. The test can be used as an aid to diagnose
one or multiple diseases using one test device and a single drop of blood. The
Company's rapid tests have performed exceptionally well in rigorous clinical
trials, earning regulatory approvals in major international markets including
the United States, Canada, China, India, and the European Union. In a recent
study led by Dr. S. M. Owen and published in the May 2008 issue of the Journal
of Clinical Microbiology, MedMira's rapid HIV had the highest sensitivity and
specificity of the FDA approved rapid tests assessed in the study. Additional
results in the same study demonstrated that MedMira's rapid HIV detected early
infection better than the other rapid tests and closely matched the
performance of much more complex enzyme tests. MedMira is now poised to
capitalize on its intellectual property estate in North American and the
European Union through its partnership development strategy and program.
"Being awarded this new US patent clearly reinforces MedMira's position
as the owner of one of the two most recognizable rapid diagnostic technologies
in the global marketplace. It further increases the overall value of our
company and creates future revenue potential through the formation of
strategic relationships with development and licensing partners, bringing new,
advanced rapid tests to the global healthcare market," said Hermes Chan,
President & CEO, MedMira Inc. "MedMira is well positioned to offer diagnostics
developers a comprehensive solution as they create new rapid tests for global
healthcare needs. Our RFT technology has unique capabilities and benefits that
are unmatched by alternative technologies on the market today."
MedMira's RFT platform is uniquely capable of simultaneously detecting
multiple disease markers in a single specimen in less than three minutes, a
critical element for diagnostics developers creating streamlined products to
meet the demands of increasingly under-resourced and under-funded healthcare
systems. Building tests on MedMira's RFT technology enables multiple results
using the same resources and materials required for a single diagnosis with
rapid tests built on the alternative technology platform.
MedMira is a leading developer, manufacturer, and marketer of advanced
rapid diagnostics. Built on the Company's patented rapid flow-through
technology platform, MedMira's single and multiple rapid tests provide
hospitals, labs, clinics and individuals around the world with reliable,
diagnosis for diseases such as HIV and hepatitis C in just three minutes. The
company's tests, which are sold under the Reveal(R), MiraWell(R), MiraCare(TM)
and Multiplo(TM) brands in global markets, have achieved regulatory approvals
in Canada, the United States, China, Russia, India, and the European Union.
MedMira is an approved supplier to US Agency for International Development
(USAID) and the Pan American Health Organization (PAHO).
In 2006, MedMira launched the Maple Biosciences division to develop and
commercialize diagnostic instruments based on biosensor technology platforms.
The new diagnostic solutions will enable routine laboratory tests to be
performed in a matter of minutes, increasing automation, and streamlining the
diagnosis of multiple conditions and diseases. Together MedMira and Maple
Biosciences will be leading participants in the emerging fields of
personalized medicine and molecular diagnostics. For more information visit
MedMira's corporate offices, R&D, and manufacturing facilities are
located in Halifax, Nova Scotia, Canada. 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