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MedMira Ships Initial Order to Russia - Launches Multiplo Rapid HBV/HIV/HCV Test into International Marketplace
Halifax, Nova Scotia, November 29, 2007 - MedMira Inc., ("MedMira") (TSX Venture: MIR,
NASDAQ: MMIRF), a global market leader in premium rapid diagnostic solutions, announced today that it has completed the initial shipment of its recently approved MultiploT Rapid HBV/HIV/HCV Antibody Test (Multiplo HBV/HIV/HCV) to its distributor in the Russian Federation. Multiplo HBV/HIV/HCV is one of MedMira's newest generation rapid diagnostic tests, and can simultaneously detect antibodies to HIV and the hepatitis B and C viruses in a single drop of blood.
This initial order, for 20,000 units of Multiplo HBV/HIV/HCV, is the result of a collaborative business arrangement, initiated by the World Trade Center (WTC) in Koeln, Germany, between itself, MedMira, and its Russian distributor; Tandem Ltd. Tandem Ltd. is an experienced medical device distributor with a strong distribution network in the Russian Federation and former CIS states.
"Our MultiploT Rapid HBV/HIV/HCV Antibody Test is unique; and there is no other similar product available in the global diagnostic market today," said Hermes Chan, President and CEO of MedMira. "Our Russian counterparts have realized this, and had succeeded in obtaining regulatory registration from the Russian Health Ministry, earlier this year, to fill a much-needed role in Russian healthcare system."
Chan continued, "This initial shipment to Russia represents an important step in our plan to develop strategic partnerships to bring the right products to the right markets. The uniqueness of this niche product is expected to lead into wide acceptance and subsequent increasing revenue to MedMira from the Russian Federation and former CIS states." First introduced at XVI International AIDS Conference in Toronto, Ontario, in August 2006, the MultiploTM product line includes a suite of rapid diagnostic tests for the simultaneous detection of more than one disease marker.
Russia has one of the fastest growing HIV rates in the world, with new cases having increased 100-fold between 1997 and 2005 and representing up to 90% of all HIV cases in Eastern Europe (WHO, November 2006). According to the WHO, 85% of registered HIVinfected individuals in the Russian Federation are injection drug users; a major mode of transmission of both HBV and HCV. The prevalence of HCV infection in HIV-infected patients has been found to be particularly high in Europe, where an average of 40% of HIV-infected are co-infected with HCV. HBV is 100 times more infectious than HIV, and more than 70% of HIV-infected people have been found to have a blood marker indicating past or present HBV infection (WHO, 2006). A higher risk of death is associated with individuals infected with HIV along with both HCV and HBV, making identification of these co-infections very critical in determining the best course of treatment (www.hivinsite.ucsf.edu).
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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 RevealŽ, MiraWellŽ, MiraCareT and MultiploT 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.
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Contacts:Dr. James Smith, Investor Relations & Corporate Affairs
Tel: 902-450-1588
E-mail: ir@medmira.com
"Reproduced with permission - MedMira"
MedMira
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