Business
MedMira Moves Forward with Outsourced Manufacturing Strategy
HALIFAX, Jan. 28 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer...
About this update from Medmira Inc.
[{"type":"text","content":"\n\n\n\nHALIFAX, Jan. 28 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,\nNASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and\nsolutions, today announced its plans to move forward with an outsourced\nmanufacturing strategy. Using an outsourced manufacturing model MedMira can\nanswer the demand and price complexities in high volume markets such as\nAfrica, Asia, and Latin America and capitalize on new opportunities for OEM\ncontracts.\n\n\nMedMira will outsource manufacturing of basic components and product\nassembly of its rapid diagnostic kits to strategic partner Shenzhen Kang Sheng\nBao Bio-Technology Co., Ltd. ("KSB"), a GMP and ISO certified biotech company\nspecializing in manufacturing and distribution of in vitro diagnostic kits.\nKSB is one of the China portfolio companies of Morningside Group, a major\nMedMira investor. MedMira continues its focus on technology and product\ndevelopment as well as the manufacturing of key biochemical components used in\nthe Company's rapid tests.\n\n\n"We have worked with KSB over the past several months, taking the\nnecessary time to ensure a seamless transfer of the manufacturing knowledge\nbase. This transition to an outsourced manufacturing model will provide clear\nbenefits to MedMira and our customers across the globe. It allows us to focus\non our core competency of developing innovative diagnostic solutions on the\naward-winning rapid flow-through technology platform," said Hermes Chan,\npresident and CEO, MedMira Inc. "Teaming with a world class manufacturing\norganization like KSB, better positions MedMira to deliver high quality\nproducts to markets where price is the determining factor in nearly all\npurchasing decisions."\n\n\nThe rapid tests being manufactured through this partnership will answer\nthe demand for high quality, low cost rapid diagnostics for HIV, Hepatitis and\nother infectious and sexually transmitted diseases. KSB has met and exceeded\nall of MedMira's stringent quality requirements and test batches have been\nevaluated by MedMira's own quality assurance team to ensure continued customer\nsatisfaction.\n\n\nChan continued, "We believe that our high quality products together with\na variable pricing structure will give us the competitive edge needed to\ncompete in today's global marke...