HALIFAX, Oct. 21, 2013 /CNW/ - MedMira Inc., (MedMira) (TSXV: MIR), a developer of rapid diagnostic technology and solutions, has received an additional USD $1.917 million from the US Army. The Company is currently developing and commercializing two rapid tests for transfusion transmitted diseases under a United States Army Medical Research Acquisition Activity (USAMRAA) contract.
The new funding enables MedMira to conduct additional testing for the Reveal Rapid Hepatitis B Surface Antigen Test and Multiplo Rapid HBc/HIV/HCV Antibody Test in parallel with the current clinical trials. Testing of additional specimens will provide the clinical data required for MedMira to obtain complementary label claims and intended uses for these two products, expanding their utility in a number of field applications.
"The additional product testing that we can now perform on the Reveal and Multiplo products will allow our customers access to powerful diagnostic capabilities in a wider range of environments and situations," said Kevin Jones, Senior Director, Global Sales & Marketing, MedMira. "The end result of the additional funding will be that more tests will be performed at a faster rate and a lower cost than has previously been attainable. The benefits for patients and healthcare providers using rapid tests built on our technology platform, especially the Multiplo triple test, will be seen not just in the US, but by organizations across the globe."
MedMira foresees that the new testing will demonstrate that the Reveal and Multiplo products are suitable for additional uses beyond the original areas of interest on the frontlines of military healthcare in emergency medical situations and for screening transfusion transmitted diseases. Reveal and Multiplo will also prove valuable in public healthcare initiatives as well as disaster and humanitarian relief efforts globally.
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 infectious diseases in just three minutes. MedMira tests are sold under the Reveal®, Multiplo™ and Miriad brands in global markets. MedMira's rapid flow-through 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 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 including statements regarding possible approval and launch of new products, future growth, and new business opportunities. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: MEDMIRA INC.
For further information:
Andrea Young, Corporate Communications