MIR MedMira Inc

Today, MedMira Inc. (MedMira) (TSXV: MIR) announces the receipt of a U.S. patent (number 11,353,450) for their new innovative and quantitative test system. Through this new patent, MedMira is to further diversify its patent portfolio and expand on its Rapid Vertical Flow Technology® (RVF) based diagnostic tests. This is a step forward in empowering the Company’s strategic vision by offering a rapid multiplexed quantitative diagnostic system from screening to confirmation to monitoring disease progression. The synergies between both patented technologies allow MedMira to continue its corporate aim to provide the market with a highly effective and affordable alternative to the current costly and time-consuming screening and monitoring systems.

“Our RVF Technology® based rapid test provides an immediate quality Yes or No answer enabling health care providers to diagnose specific marker(s) at a true Point-of-Care situation. We strongly believe in the value of such affordable and easy-to-use testing methods, which the world has clearly seen with the COVID-19 pandemic. We are fortunate enough to expand our offering to the market by adding value with the latest success of our technology development – The MIROQ™ system. MIROQ™ allows health care providers to receive an immediate diagnosis with both qualitative AND quantitative results and continue disease monitoring in minutes at the most affordable price. With the growing global population, the increase of health issues and the overall economical adverse situation – MedMira brings diagnostic tools that can be used anywhere at the lowest possible cost,” said Hermes Chan, CEO of MedMira Inc. “The synergies of both systems provide the ultimate answer to help people know at the fastest possible time. This is not just the next step for our corporate development, it is also a distributive technology that outlines the much-needed shift from the high maintenance and costly screening and diagnostic tools to something that makes sense in today’s world.”

MedMira’s latest novel diagnostic system allows for accessible and efficient diagnostic tools for quantitative results in minutes. The user-friendly interface combined with automated interpretation allows for an expansion of MedMira’s current RVF-based tests and can provide a pathway to significantly increase the technology’s multiplexing abilities. The combination of the RVF and Surface-Enhanced Raman Spectroscopy* (SERS) technology, creates MedMira’s patented novel high quality and cost-effective tool for the next generation - MIROQ™. This enables the amplification of the results produced by MedMira’s RVF-based rapid tests by creating a unique 3D structure with remarkable reproducibility that is yielded in a linear plot (R2 = 0.98). The new addition to MedMira’s patent family creates perfect collaboration to expand its access in both the clinical immunoassay and the Point-of-Care markets, opening new doors into the evolving diagnostic landscape by providing both qualitative and quantitative test results in minutes.

The company developed the first prototype system in 2014 and went through extensive verification and validation performed by our academic partners here in NS, Canada. These findings were published in the Journal of Analytical Chemistry in November 2016 and describe the performance and efficiency of this technology to be on par with traditional expensive laboratory testing solutions which are generally limited to high complexity labs. This patented system with the proprietary build-in data capture and analysis software allows for immediate analysis of any positive (reactive) results within 1 min. This is in contrast to the current laboratory systems that may take from a couple of hours and up to a week to process samples.

MedMira will provide in the coming months the launch plan and next steps.

*Surface-enhanced Raman Spectroscopy (SERS) is a technique that enhances Raman scattering of molecules embedded on a given surface by several orders of magnitude through the amplification of the electron cloud density around these molecules. Typical SERS signal enhancement factors (EF) are observed between 106 and 1010 times, thus enabling a lower limit of detection and making the tests more sensitive.

About MedMira

MedMira is a leading developer and manufacturer of Rapid Vertical Flow® diagnostics. The Company’s tests provide hospitals, labs, clinics and individuals with instant disease diagnosis, such as HIV, Syphilis, Hepatitis, and SARS-CoV-2, in just three easy steps. The Company’s tests are sold globally under the REVEAL®, REVEALCOVID-19® , Multiplo® and Miriad® brands. Based on its patented Rapid Vertical Flow® Technology, 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. MedMira’s corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada. For more information visit medmira.com. Follow us on Twitter and LinkedIn.

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 regulatory approval, product launch, 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 ContactMarkus MeileChief Financial Officer MedMira Inc.ir@medmira.com