HALIFAX, July 3, 2012 /PRNewswire/ - 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 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.
SOURCE MEDMIRA INC.
Image with caption: "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.)". Image available at:
http://photos.newswire.ca/images/download/20120703_C5808_PHOTO_EN_15891.jpg