HALIFAX, Jan. 28 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and solutions, today announced its plans to move forward with an outsourced manufacturing strategy. Using an outsourced manufacturing model MedMira can answer the demand and price complexities in high volume markets such as Africa, Asia, and Latin America and capitalize on new opportunities for OEM contracts.
MedMira will outsource manufacturing of basic components and product assembly of its rapid diagnostic kits to strategic partner Shenzhen Kang Sheng Bao Bio-Technology Co., Ltd. ("KSB"), a GMP and ISO certified biotech company specializing in manufacturing and distribution of in vitro diagnostic kits. KSB is one of the China portfolio companies of Morningside Group, a major MedMira investor. MedMira continues its focus on technology and product development as well as the manufacturing of key biochemical components used in the Company's rapid tests.
"We have worked with KSB over the past several months, taking the necessary time to ensure a seamless transfer of the manufacturing knowledge base. This transition to an outsourced manufacturing model will provide clear benefits to MedMira and our customers across the globe. It allows us to focus on our core competency of developing innovative diagnostic solutions on the award-winning rapid flow-through technology platform," said Hermes Chan, president and CEO, MedMira Inc. "Teaming with a world class manufacturing organization like KSB, better positions MedMira to deliver high quality products to markets where price is the determining factor in nearly all purchasing decisions."
The rapid tests being manufactured through this partnership will answer the demand for high quality, low cost rapid diagnostics for HIV, Hepatitis and other infectious and sexually transmitted diseases. KSB has met and exceeded all of MedMira's stringent quality requirements and test batches have been evaluated by MedMira's own quality assurance team to ensure continued customer satisfaction.
Chan continued, "We believe that our high quality products together with a variable pricing structure will give us the competitive edge needed to compete in today's global markets."
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.
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