Controlling Shareholder of MedMira Announces Name Change and Addition of New Partners to Its Board
26 September 2012 - 9:21PM
PR Newswire (Canada)
HALIFAX, Sept. 26, 2012 /CNW/ - MedMira Inc., (MedMira) , a
developer of rapid diagnostic technology and solutions, announced
today that its largest and controlling shareholder, Andurja
Beteiligungen AG has changed its name to OnSite Lab Holding AG
(OnSite Lab). OnSite Lab has further partnered with a
Luxembourg-based investment fund, Redalpine Capital II S.C.S.,
SICAR (Redalpine Capital), and a private investment company, RLG
APS, located in Copenhagen to enhance its Board and investment
focus in life science companies. "The substantial investment we
have made in MedMira represents our strong commitment, our focus,
and a key element of our strategic plan. By changing our company's
name to OnSite Lab Holding AG, we are moving a step closer to
building an even stronger affiliation with MedMira. We are bringing
the expertise of Redalpine and RLG APS on to our Board to provide
additional industry capabilities to MedMira. Dr. Michael
Sidler, partner at Redalpine Capital, has a wealth of experience in
the life sciences and diagnostics industry and in linking science
and business entities. RLG APS is led by Dr. H.P. Richard, a
well established Swiss medical doctor will offer further assistance
to MedMira for its expansion into new business opportunities and
financing networks. We are committed to work with the Company's
management and its Board to deliver the best value to all
stakeholders of MedMira," said Urs Meile, Chairman of OnSite Lab
Holding AG. Meile continued, "Our investment in MedMira is a chance
to be a part of an evolutionary shift in the rapid diagnostics
market. We see MedMira as an investment that not only covers
the humanitarian side but it is our strong belief that MedMira is
one of the very few companies that will yield a high return on
investment in today's market." "We are excited about the in-depth
life sciences and diagnostics industry knowledge, and business
network brought by Dr. Sidler and Dr. Richard through OnSite
Lab. We believe that their expertise will be invaluable in
optimizing MedMira's strategic direction during the next phase of
our growth," said Hermes Chan, CEO, MedMira Inc. Dr. Sidler has
been nominated as the board representative for OnSite Lab on
MedMira's Board of Directors. This appointment is subject to
final approval of the TSX Venture Exchange. About MedMira MedMira
is a leading developer and manufacturer of flow-through rapid
diagnostics and technologies. 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®, Multiplo™
and Miriad brands in global markets. MedMira's rapid flow-through
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, including statements relating to growth
in the Company's business, earnings and profitability, and trends
in demand for the Company's products, which involve risk and
uncertainties and reflect the Company's current expectation
regarding future events including statements regarding possible
future growth and new business opportunities. 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. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
MEDMIRA INC. CONTACT: MedMira Contact:Andrea Young, Corporate
CommunicationsTel: 902-450-1588Email: ayoung@medmira.com
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