HALIFAX, July 29 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF) a developer and marketer of rapid diagnostics, announced today that it has received new product sales orders from customers in several global markets, including Bulgaria, Chile, and Colombia.
"Our focus on revenue-building initiatives is beginning to yield results with these sales wins in Bulgaria, Chile, and Colombia," said Hermes Chan, CEO, MedMira Inc. "We continue to build momentum in international markets, pursuing sales opportunities, strategic partnerships, and other collaborative projects that directly impact our financial performance and shareholder value."
Bulgaria and Chile are new markets for MedMira, with orders and advance deposits received earlier this month from distributors in both countries. In Bulgaria, the Company's rapid HIV tests will fulfill a successful government tender bid and be used in a public health testing program.
MedMira is working with its regional sales partner in Colombia to continue increasing rapid HIV test sales and pursuing new opportunities to introduce other MedMira rapid tests to these markets. MedMira's Colombian distributor was also successful in winning a government contract for rapid HIV tests.
Orders for Bulgaria, Chile, and Colombia are now in production and 50,000 tests are slated for delivery to these customers in August.
Chan continued, "We are confident that these sales wins will lead to future opportunities in these regions as our products are fully integrated into healthcare programs, the value and quality will be clearly evident."
The Company is also seeing improvement in product sales in the US market and expects these to steadily increase as its new distributor, VWR International LLC, fully launches Reveal G3 Rapid HIV-1 Antibody Test to its customer base.
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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