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Monday, July 4, 2011

U.S. Army awards tiny Canadian diagnostic company, Medmira (CVE:MIR), (PINK:MMIRF) Contract to Develop and Commercialize A Multi-Marker Hepatitis B Core Antibody Rapid Test

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10 hours ago by CNW Group
 MedMira Inc., ("MedMira") (TSXV: MIR) (NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and solutions, today announced it has been awarded a U.S. Army Medical Research Acquisition Activity (USAMRAA) contract, valued at USD$2,278,192, to develop and commercialize a multi-marker rapid test for the detection of the Hepatitis B Core IgG and IgM antibodies. 

Under contract number W81XWH-11-C-0090 the U.S. Army will fund all development costs and associated fees in obtaining a U.S. Food and Drug Administration (FDA) premarket approval (PMA) for this new rapid test.
The multi-year contract involves a comprehensive scope of work in which MedMira will advance and commercialize a rapid test that will detect Hepatitis B core IgG and IgM antibodies within three minutes. The Company will perform in-house validation and evaluations, take the new test through clinical trials and obtain FDA approval. Once approved, the product will be supplied by MedMira directly to the U.S. Army and to other customers through typical distribution sales channels.

"We are excited to receive the awarded contract and to work with the U.S. Army in advancing the health services provided to those serving in the armed forces. The work that will be undertaken within this project is wholly aligned with MedMira's core competencies in developing multi-marker infectious disease rapid diagnostics on our proven technology platform," said Hermes Chan, CEO, MedMira Inc. "This contract is a solid foundation upon which to build an ongoing partnership with the U.S. Army that will enable MedMira to provide key tools with frontline implications in military medical care."

MedMira entered the USAMRAA's competitive bid process with a patented diagnostic technology platform that met the U.S. Army's advanced technology readiness level requirements and in-depth experience in developing and commercializing rapid diagnostics, particularly multi-marker tests. The resulting product will be deployed primarily in forward medical operations to screen blood supplies for transfusion transmitted diseases in critical care situations. Additionally, the Hepatitis B rapid test may also be used in cases of occupational exposure, medical surveillance programs, and routine pre and post deployment medical checks.

Chan continued, "MedMira's strategy to build experience and market share with military clients began nearly two years ago and today we are working with both the U.S. Army and the Canadian Armed Forces. The advanced rapid diagnostics and technologies that MedMira can bring to military healthcare services deliver unmatched quality, performance and benefits to care providers and their patients."

"Congratulations to Mr. Chan and his team at MedMira on this latest achievement," said Nova Scotia Premier Darrell Dexter. "Results like this advance Nova Scotia as a leader in innovation, research, and development. Ultimately, this work will improve the lives of individuals, at home and abroad."

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 of infectious diseases. MedMira diagnostics are sold under the Reveal®, MiraWell®, MultiploTM, and Miriad brands in global markets.

 
MedMira's rapid HIV test is the only rapid HIV test 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 regarding development of sales opportunities, 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.
The views expressed in this presentation are those of the authors and may not necessarily be endorsed by the U.S. Army
To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/July2011/04/c3036.html
SOURCE: MEDMIRA INC.

MedMira Contact: Andrea Young T. 902-450-1588 E.ayoung@medmira.com
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