HALIFAX, March 10 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and solutions, announced today that it is has established a private label partnership with Vitest AG (Vitest). Vitest, an established private label partner of MedMira, plans to market and sell MedMira rapid HIV tests in Africa under the Vitest brand. This partnership will increase the availability of quality rapid HIV tests in Africa, a market where an urgent need for testing exists, with an estimated 22 million people infected with HIV and nearly 2 million newly infected each year. (www.unaids.org)
"MedMira and Vitest are coming together to respond to a growing need and to deliver, what we believe will be the highest quality and most superior rapid HIV test available in the African market," said Dr. Jörg-Michael Hollidt, CEO, Vitest AG. "The collaboration between our two companies enables us to deliver quickly and efficiently a high quality, world class diagnostic solution with the flexibility to meet the varied needs of public health and private company testing programs in Africa."
The partnership enables each company to bring their core skills and focus together to achieve success in complex and highly competitive developing markets such as Africa. Under the terms of the agreement, MedMira will manufacture its complete line of rapid diagnostics, which includes HIV, hepatitis and multiple tests built on the Company's patented and award-winning rapid flow-through technology platform, for Vitest to market and sell through various channels in Africa, including public health tenders and private company-sponsored programs.
"We know that Africa is where one of the greatest testing needs exists and we now have the right partner in Vitest and the infrastructure in place to serve this market profitably," said Hermes Chan, CEO, MedMira Inc. "Our newly outsourced manufacturing capabilities will enable us to meet the volume and pricing demands of this highly competitive, price-driven market. We look forward to working closely with Vitest to establish a firm position in Africa for the MedMira/Vitest products."
Chan continued, "By integrating our efforts we can successfully meet the pricing and volume requirements that the Africa market demands. The focus of our partnership will be to deliver high volumes of quality rapid HIV tests at market-driven prices."
About Vitest
Vitest AG is a privately held company based in Wollerau, Switzerland (www.vitest.ch) with a corporate subsidiary in Germany (Vitest GmbH). Vitest is manufacturer of medical rapid tests and known well for their high quality products. The company provides doctors offices, clinics and government institutions with innovative rapid tests. With the introduction of Vitest HIV to the German market, Vitest takes the lead in the latest AIDS prevention movement to reduce the number of new HIV infections in Germany, by making better diagnostics more widely available. For more information about Vitest Europe, please contact Christiane Ewel, Head of Marketing and Sales Europe (ch.ewel@vitest.de), Vitest GmbH, D -16761 Hennigsdorf, Neuendorfstrasse 24b, Tel. +49 3302 202 7100, Fax. +49 3302 202 7199 or for Vitest International, please contact Nicholas Dellaportas (n.dellaportas@vitest.ch), Director of Business Development and Sales, Vitest AG, UK - 33 Thames Point, The Boulevard, Imperial Wharf, London, SW6 2 SX, +44 77111 826550, Fax. +4420 7371 5110.
About MedMira
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 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.
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