Message from MedMira's CEOIn a short time, MedMira has developed an RVF®-based rapid test that detects total antibodies to the SARS-CoV-2 virus, the causative agent of COVID-19, in human serum, plasma and venipuncture whole blood.
Despite our financial constraints, MedMira, relying solely on our dedicated team and stakeholders, was able to develop and validate the newest member of our Reveal family, REVEALCOVID-19™ Total Antibody Test. REVEALCOVID-19™ Total Antibody Test is currently being manufactured under strict Good Manufacturing Practices (GMPs) at our FDA-approved Halifax facility and in collaboration with our US-based partners.
Weekly production shall, without a doubt, increase to the level required by our trusted distribution and sales partners. Since we announced the development of REVEALCOVID-19™ Total Antibody Test in April, we have received many inquiries from our shareholders.
We have also become aware of a number of inaccurate claims pertaining to MedMira. While it is not our policy to respond to market rumors, I want to take this opportunity and provide additional clarity to our shareholders and other stakeholders. As a publicly listed company that strives for the highest quality of its product, we take our disclosure obligations seriously and will only publish information that is fully validated.
MedMira has submitted an Emergency Use Authorization (EUA) application to the United States FDA. At this time, REVEALCOVID-19™ Total Antibody Test application is under review. During the review, however, according to the FDA regulations, MedMira can legally sell and distribute REVEALCOVID-19™ Total Antibody Test to the authorized laboratories in the United States.
MedMira plans to pursue these opportunities using its existing internal resources, which include the recently made large product sale. Following this successful agreement Company is able to fulfill the needs of production as well as supply our trusted partners.
Despite our difficult financial position, in the past four years MedMira has raised its capital by means other than the issue of new shares in order to preserve shareholder value. At this point, MedMira is not considering a capital raise and will not issue new shares and dilute our current shareholders.
We live in a world in which various information sources and opinions are available, however, not all of them are trustworthy. MedMira’s management team is committed to providing timely and transparent disclosure pertaining to our business and give reliable information to our stakeholders.
With this letter we would like to re-emphasize MedMira Inc. due diligence in the efforts to reassure our investors. On behalf of MedMira’s team we thank you for your support and personally I am grateful to be a part of this Company.
Yours sincerely,
Hermes Chan Co-Founder and CEO MedMira Inc.