HALIFAX, Dec. 31 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer of rapid diagnostic technology and solutions, announced today that five of the Company's rapid tests for diseases including HIV, H.Pylori, Syphilis, and Hepatitis B and C have been approved for sale in Jordan by that country's Food and Drug Administration. This approval and subsequent product sales mark MedMira's first win in the Middle East, a highly lucrative region where the Company has numerous market development initiatives underway.
While all of the approved MedMira products are expected to see sales in Jordan in the coming months, the initial focus will be on the Multiplo HBV/HIV/HCV test for guest worker testing programs required at Jordan's border entry points. Currently, testing guest workers is a long and arduous procedure which can take up to two weeks to process and return results. Guest workers make up a large portion of the migrant population of the Middle East. In 2010, Jordan's Labour Ministry carried out health tests, including HIV testing, on more than 232,000 guest workers of various nationalities entering the country.
"Jordan is a gateway to the many opportunities that MedMira and its local market partners are pursuing in the Middle East," said Hermes Chan, CEO, MedMira. "The opportunities for high margin sales in Jordan and other countries of the Middle East, where healthcare systems are quite sophisticated, combined with high volume sales in developing regions such as Africa and Asia is the right mix of customers for MedMira's long term growth strategy."
The approval includes MedMira's Reveal HIV, H. Pylori and Syphilis rapid single tests as well as the Company's Multiplo tests for the simultaneous diagnosis of HIV and/or Syphilis and the triple test for HIV and/or Hepatitis B and/or C. These products were submitted for evaluation and processed in a relatively short time frame with the assistance of MedMira's local partner, multiMed Holdings Inc., a US-based international sales and marketing firm who has built a strong distribution platform to cultivate a network of sales offices, servicing key markets around the world.
About MedMira
MedMira is a leading developer and manufacturer of flow-through rapid diagnostics and technologies. The Company's tests provide hospitals, labs, clinics and individuals with reliable, rapid diagnosis for infectious diseases in minutes. MedMira diagnostics are sold under the Reveal®, MiraWell®, MiraCare™ and Multiplo™ 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 European Union. MedMira's corporate offices 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:
Andrea Young
T. 902-450-1588
E. [email protected]
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