HALIFAX, Aug. 25 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,
NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and
solutions, announced today that it is expanding its product line with
strategic partner, Triplex International Biosciences Co., Ltd. (Triplex), in
Mainland China and Hong Kong. The partners are moving forward with SFDA
regulatory submissions and subsequent market launch for rapid tests under the
Multiplo brand including the HBV/HIV/HCV rapid test and combination tests for
HIV and syphilis and HIV and tuberculosis.
MedMira's rapid H. Pylori test, which detects a bacteria linked to the
development of stomach cancer, will also be submitted for approval and
launched into the market as part of this expanded distribution agreement.
Triplex is currently the exclusive distributor for MedMira's rapid HIV test in
MedMira has also developed, in collaboration with Triplex, the single and
multiple rapid tests for drugs of abuse such as amphetamines,
methamphetamines, morphine, barbital, benzodiazepine, cocaine, THC, and
ketamine. The multiple test can detect up to five of these drugs in just a few
drops of urine. These new products will answer the demand for faster, more
streamlined drug testing to combat the growing problem of drug abuse among the
youth population in Hong Kong and Mainland China. According sources in Hong
Kong, drug abuse among those under 21 has increased by 57% in the past four
years. Local authorities are stepping up efforts to reverse the trend and
battle the growing use of ketamine in particular, including random
school-based drug tests.
"Expanding our product line with Triplex at this time is a very good
opportunity for us to meet the increasing demand for advanced rapid
diagnostics for drugs of abuse and other initiatives being implemented as
China's new healthcare system takes shape," said Hermes Chan, CEO, MedMira
Inc. "Our world class diagnostics technology and applications together with
Triplex's local market knowledge, a well-established customer base, and access
to healthcare experts, will move MedMira's market presence in Mainland China
and Hong Kong forward."
Earlier this year the two companies established a strategic partnership
to distribute MedMira rapid tests through Triplex and explore other market
opportunities in China. Triplex is a major player in the China diagnostics
market, with recorded sales revenue of nearly USD $30 million last year.
"We are pleased to bring additional MedMira rapid tests to our customers
in Mainland China and Hong Kong. The multiple test for drugs of abuse will be
the first of its kind in this market and answer a growing demand for reliable
and fast drug tests," said Yiu Ming Fung, President and Chairman of Triplex.
"We look forward to further expanding our partnership with MedMira in the near
future with a focus on the co-development of new rapid tests for cancer and
heart disease markers."
About Triplex International Biosciences Co., Ltd.
Triplex is one of the leading molecular pathology diagnostic companies in
China and its line of diagnostic solutions is one of the tope brands in the
industry. Over the past five years, Triplex has grown from seven people to a
team of 170 supporting the Company's annual sales growth rate of 400 percent.
Triplex sells more than 45 products to over 2000 hospitals and medical
institutions across 29 provinces and cities in China. The Company has also
developed more than 30 diagnostic products through its Engineering Laboratory
for Molecular Diagnostic Technology in Fuzhou, three R&D centers, and five
joint R&D bases with Peking University Medical School, the Fourth Military
Medical University in Xi-an, Sichuan University, Fujian Medical University, as
well as CAS Shanghai Life Sciences Research Institute. To learn more about
Triplex visit www.tibchina.com.
MedMira is a leading developer and manufacturer of flow-through rapid
diagnostics. The company's tests provide hospitals, labs, clinics and
individuals 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 European
Union. MedMira's corporate offices and manufacturing facilities are located in
Halifax, Nova Scotia, Canada. For more information visit MedMira's website at
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: Andrea Young, MedMira, (902) 450-1588,