HALIFAX, Nova Scotia,
July 3, 2012 /PRNewswire/ --
Under a US Army contract valued at
USD$4.2 million, MedMira will develop
and commercialize this multiple rapid test which detects HIV,
Hepatitis B and C simultaneously in 3 minutes from a single drop of
blood. (CNW Group/MEDMIRA INC.)
MedMira Inc., (MedMira) (TSXV: MIR), a developer of rapid
diagnostic technology and solutions, announced today that it has
been awarded a U.S. Army Medical Research Acquisition Activity
(USAMRAA) contract to develop and commercialize a rapid test
capable of simultaneous detection of HIV and Hepatitis B and C.
The contract, awarded through a competitive bid process,
involves a two-year base period and a 10-month option with a value
of USD$4,266,144, if all options are
exercised. MedMira presented its technology and multiple
rapid test, which met the U.S. Army's advanced technology readiness
level requirements. The Multiplo Rapid HBV/HIV/HCV Antibody
Test resulting from this contract award will be deployed on the
frontlines of military healthcare for use in emergency screening
for transfusion transmitted diseases where no FDA approved donor
screening tests are available. The military could also put
the test to use during pre and post deployment screenings and
civilian disaster relief efforts.
"We are thrilled to receive this new contract from USAMRAA for
the development and commercialization of our Multiplo test.
This contract award demonstrates the excellent fit between
MedMira's technology and products and military requirements.
We have built a lasting relationship with the U.S. Army, delivering
advanced diagnostic solutions that reduce the need for militaries
to undertake ground-up development work," said Hermes Chan, CEO, MedMira Inc. "MedMira's
technology and products are elegantly simple, portable, fast, and
high quality. All of these attributes are mission critical in
deploying diagnostic healthcare solutions on the frontlines of
military healthcare."
Chan continued, "Our team recently attended a conference focused
on military pre-hospital trauma management where we heard first
hand of the need for a multiple rapid HBV/HIV/HCV test from many of
the leading experts, military personnel, and medical professionals
in this field."
Under contract number W81XWH-12-C-0151 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
multiple rapid test. The scope of work under this contract
will see MedMira advance and fully commercialize a multiple rapid
test that will simultaneously detect three of the most serious
infectious diseases, namely HIV-1/2, Hepatitis B, and C antibodies
within three minutes using just a small drop of blood. Once
approved, the product will be supplied by MedMira directly to the
U.S. Army and to other customers throughout the world, both
military and civilian, via the Company's distribution network.
"A multiplexed test for transfusion transmitted diseases
provides an enabling technology that will be used to mitigate risk
in austere environments where emergency blood collections are
necessary to save lives of severely wounded war fighters," said
Colonel Richard Gonzales, Product
Manager, U.S. Army Medical Materiel Development Activity.
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
http://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.
For further information:
MedMira Contact:
Andrea Young, Corporate
Communications
Tel: +1-902-450-1588
Email: ayoung@medmira.com
