Deal Dramatically Increases U.S. Access to Patented Rapid
Testing Technology
HALIFAX,
Jan. 13, 2014 /PRNewswire/ -
MedMira Inc., (MedMira) (TSXV: MIR), a developer of rapid
testing technologies and solutions, today announced a U.S.
distribution agreement with VWR International LLC, a global
solutions provider of laboratory supplies and services with
worldwide sales in excess of $4.1
billion in 2012.
Through this new agreement, MedMira will benefit
from the breadth and depth of VWR's experience in reaching various
U.S. industries including research, education and healthcare.
VWR is selling MedMira's Miriad platform technology as well as its
Reveal G3 rapid HIV test. In the future, MedMira and VWR will
expand more rapid testing products to its portfolio.
"MedMira's proven technology and rapid tests
will offer our customers the benefits of faster test times and
simplified test procedures," said Mark
McLoughlin, Senior Vice President and President of VWR's
U.S. Lab Business. "We are very excited to add MedMira's products
to our extensive portfolio and to work closely with MedMira on
their strategic U.S. expansion."
"This agreement is a cornerstone of the
foundation for MedMira's future strategy," said Kevin Jones, Ph.D., senior director, global
sales and marketing, MedMira. "VWR has more than 300 U.S.
representatives on the ground every day, in laboratories,
universities and businesses in a variety of industries. We are
thrilled and committed to work alongside VWR to bring our
technologies and solutions to a much broader U.S. user base than we
previously were able to reach."
The U.S. accounts for 40 percent of global in
vitro diagnostics sales, which are expected to reach an estimated
value of $74.2 billion globally by
2018 (Transparency Market Research). Rapid testing for diseases
such as HIV and Hepatitis are an increasingly important segment of
the U.S. diagnostics industry. The CDC recently implemented
revised guidelines calling for routine HIV screening of all people
aged 15-65 and all pregnant women in the U.S. as part of the normal
course of medical care. Public health organizations in the
U.S. are also ramping up screening programs to detect Hepatitis C
infection; it is estimated that there are 3.2 million people in the
U.S. infected with Hepatitis C, 50 to 70 percent of whom are
unaware of their infection.
About MedMira
MedMira is a leading developer and manufacturer
of rapid testing technology and solutions. 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 patented
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, which involve risk and uncertainties and reflect the
Company's current expectation regarding future events including
statements regarding possible approval and launch of new products,
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.
SOURCE MEDMIRA INC.
