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MedMira Receives Patent for Rapid Test Technology
Tuesday, June 19, 2007
European Patent Office Allows Newest Generation Multiplo Test Platform
Halifax, NS -- MedMira Inc., ("MedMira") (TSX Venture: MIR, Nasdaq: MMIRF), a global market leader in premium rapid diagnostic solutions, announced today that it has received an "Intent to Grant Notice" (the European equivalent of the United States Notice of Allowance) from the European Patent Office for its rapid diagnostic device and assay (European Patent Application No. 02 753 996.4). The novel invention is the core technology in MedMira's line of rapid diagnostic tests and the basis for its newest generation Multiplo™ platform, which can simultaneously detect multiple disease markers in minutes. The Multiplo™ Rapid HBV/HIV/HCV Antibody Test recently received regulatory approval from the Ministry of Health in the Russian Federation.
The patented technology, an innovative rapid flow-through diagnostic device, assay, and multifunctional buffer reagent, provides users the ability to detect multiple target analytes in a single sample, using the materials provided, in just three minutes. Therefore, critical answers are delivered when time really matters.
"Receiving this patent is key to MedMira's ability to further capitalize on its unique offering of truly rapid, and high quality test technology," said Hermes Chan, President and CEO of MedMira. "Simultaneous multiple disease detection is the next step in streamlining diagnostics, and enabling health care providers to deliver quality diagnostic results quickly and easily."
MedMira had formally introduced this technology using its Multiplo™ Test for HIV and Hepatitis at the XVI International AIDS Conference in Toronto, Ontario in August 2006. Moving forward, MedMira aims to develop additional tests in the Multiplo family and seek key approvals in the global market.
Chan continued, "As we move our efforts forward in developing innovative diagnostic devices, having patent protection for our technology is not only important, but it allows us to effectively seek new licensing opportunities. This fits in with our strategic goals for our technology and for MedMira as a whole."
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 Reveal®, MiraWell®, MiraCare™ and Multiplo™ 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.
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