Regional Distributor Enters New Markets with MiraCare and Multiplo Tests
HALIFAX, April 24 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a global market leader in premium rapid diagnostic solutions, announced today that it continues to build sales momentum, expand into new sales territories, and extend its product reach in Eastern Europe. Building on an initial distribution channel in Romania MedMira is expanding its footprint in the region to include the Republic of Moldova and Ukraine. Together with its regional distribution partner, S.C. Roned International S.R.L., MedMira will bring MiraCare(TM) Rapid HIV Test to these markets immediately and begin the approval process for Multiplo(TM) Rapid HBV/HIV/HCV Test.
"We're very excited about bringing MedMira's products to our customers in Moldova and Ukraine following the positive response we have had in Romania. MedMira's unique Multiplo line of tests has captured the interest of many levels of government in all three countries. In Romania, hepatitis/HIV co-infections are very serious and we are seeking our government's full cooperation in approving MedMira's Multiplo triple test at the earliest possible date," said Dumitru Vescu, Executive Director of S.C. Roned International S.R.L. and President of the Romania-Moldova Chamber of Commerce. "We have started the process to allow MedMira's Multiplo test to be distributed through the Over-the-Counter (OTC) channels in Romania and we are also working with local NGO tenders to further expand the sales opportunities."
Multiplo HBV/HIV/HCV is one of MedMira's multiple rapid diagnostic tests which simultaneously detects antibodies to HIV and the hepatitis B and C viruses in a single drop of blood. Multiplo stands alone as the only commercially available rapid test for HIV and Hepatitis co-infection. Multiplo is being used in the United Nations Office on Drugs and Crime (UNODC) Behavioural Surveillance Surveys (BSS) Among Injecting Drug Users and Sex Workers in Romania beginning in May of this year.
"The momentum we are seeing in Eastern Europe is affirmation that our business and product strategies are working and we are very excited about the progress that our partner has made in recent months. We fully expect that the approval of our Multiplo triple test will be obtained within the next few months," said Hermes Chan, President & CEO, MedMira Inc. "Our work with our partner, S.C. Roned International, and participation in public health initiatives such as the UNODC's surveillance program in Romania are key steps in building market awareness and acceptance of our rapid tests and ultimately capitalizing on new revenue streams for MedMira in this part of the world."
About MedMira
MedMira is a leading developer and manufacturer of flow-through rapid diagnostics. The company's tests provide hospitals, labs, clinics and individuals around the world 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.
In January 2006, MedMira launched the Maple Biosciences division to develop and commercialize diagnostic instruments based on two revolutionary biosensor-based technology platforms. The solutions developed by Maple Biosciences will enable routine laboratory tests to be performed in a matter of minutes, increasing laboratory automation, streamlining the diagnosis of multiple conditions and diseases and positioning MedMira to be a leading participant in the emerging fields of personalized medicine and molecular diagnostics. For more information visit www.maplebio.com.
MedMira's corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada with a representative office in China. Maples Biosciences' labs are located in Toronto, Ontario. 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.
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