Business
MedMira Receives CAD$6.0Million Equity Investment from Andurja Beteiligungen AG to Bolster Ongoing Business Development Activities
HALIFAX, June 6, 2012 /CNW/ - MedMira Inc., (MedMira) (TSXV: MIR), a developer of rapid dia...
About this update from Medmira Inc.
[{"type":"text","content":"\n\n\n\n\n\nHALIFAX, June 6, 2012 /CNW/ - MedMira Inc., (MedMira) (TSXV: MIR), a\n developer of rapid diagnostic technology and solutions, announced today\n that it has entered into an agreement with Andurja Beteiligungen AG\n (Andurja), a Swiss company based in Zug, Switzerland, for a CAD$6.0\n million equity investment to be used in financial operations and\n further advancing global business development, sales, and marketing\n initiatives.\n\n\n\"Andurja continues to demonstrate its commitment to MedMira and shares\n our confidence in the Company's growth strategy. This is a significant\n cash infusion and will be instrumental in taking a number of MedMira's\n current business development, sales, and marketing programs to the next\n level,\" said Hermes Chan, chief executive officer, MedMira\n Inc. \"Previous investments have enabled the Company to achieve success\n in a number of key areas, including the establishment of a strategic\n partnership program which extends our business development reach around\n the globe. Additionally, MedMira continues to raise its profile within\n organizations such as the Bill & Melinda Gates Foundation and various\n United Nations agencies, and is increasing awareness of its technology\n and products in niche markets, like the defence sector. This latest\n investment from Andurja will make it possible to bolster our activities\n in these areas as well as initiate market development in other high\n growth diagnostic sectors.\"\n\n\nAndurja, the controlling and majority shareholder of MedMira's strategic\n business development partner Vitest AG, made previous investments in\n MedMira, including CAD$2.0 million in 2009, CAD$1.0 million in 2010,\n CAD$1.5 million in 2011, and CAD$1.0 million in January 2012.\n\n\n\"Over the past three years, Andurja investment has supported MedMira in\n establishing a number of realistic and successful programs which now\n form a solid foundation for further business development and marketing\n initiatives,\" said Urs Meile, chairman, Andurja Beteiligungen AG.\n \"MedMira has honed its patented technology and successfully applied it\n to produce a number of high quality premium diagnostics products. With\n excellent products, and more in the pipeline, an international network\n of strategic partners, ongoing global brand awareness campaigns, a...