MedMira Inc V.MIR

OCT 19 CEO Chan "Top Bioscience Innovator"

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https://www.medmira.com/prs/2007/20071910.pdf FOR IMMEDIATE RELEASE MedMira CEO Hermes Chan Named Top Bioscience Innovator of 2007 by The Economist Halifax, Nova Scotia, October 19, 2007 – MedMira Inc., (“MedMira”) (TSX Venture: MIR, NASDAQ: MMIRF), a global market leader in premium rapid diagnostic solutions, announced today that company President and CEO, Hermes Chan was named the Top Bioscience Innovator of 2007 at The Economist’s Sixth Annual Innovation Awards Ceremony and Summit last night in London, England. This prestigious international event celebrates and explores the achievements of the men and women whose radical ideas have had a significant impact on the world. “I am truly honoured to receive this award from The Economist,” said Hermes Chan, President and CEO of MedMira Inc. “This distinguished award brings international recognition to MedMira and the world class product we have developed here in Nova Scotia. The research and development environment in Canada and Nova Scotia enables innovation, resulting in high quality, internationally recognized inventions like ours.” Mr. Chan, along with his former mentor and professor, Abdullah Kirumira, was recognized with the innovation award for his invention of the rapid flow-through diagnostic platform. Since inception in 1993 at a Nova Scotia university science lab, Mr. Chan’s invention has evolved to become the core product upon which MedMira was built and the world’s only rapid diagnostic platform for the simultaneous detection of infectious diseases such as HIV and Hepatitis C and B. Applications developed on Mr. Chan’s patented rapid diagnostic platform have earned approvals from international health care regulators and agencies including Health Canada, the US Food and Drug Administration, China’s State Food and Drug Administration and the European CE Mark. “On behalf of the entire MedMira team, our private and public sector partners, and supporters, I would like to extend congratulations to Hermes on receiving this important award, it is truly well deserved” said Stephen Sham, Chairman, MedMira Inc. “This award from The Economist recognizes Hermes’ many years of hard work and MedMira’s unyielding commitment to quality. Such global recognition once again demonstrates that MedMira is on the path to greater international success and profitability. ” Following the awards, Mr. Chan participated in a half-day interactive summit run by The Economist where the 2007 Innovation Award Winners shared their achievements in innovation and how their ideas became successes. They also discussed the role innovation played in their respective industries and organisations, and how they see innovation shaping their future business strategies. -moreAbout MedMira MedMira is a leading developer and manufacturer of flow-through rapid diagnostics. The company’s tests provide hospitals, labs, clinics and individuals around the world 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®, MiraWell®, MiraCare™ and Multiplo™ brands in global markets. 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. In January 2006, MedMira launched the Maple Biosciences division to develop and commercialize diagnostic instruments based on two revolutionary biosensor-based technology platforms. The solutions developed by Maple Biosciences will enable routine laboratory tests to be performed in a matter of minutes, increasing laboratory automation, streamlining the diagnosis of multiple conditions and diseases and positioning MedMira to be a leading participant in the emerging fields of personalized medicine and molecular diagnostics. For more information visit www.maplebio.com. MedMira’s corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada with a representative office in China. Maples Biosciences’ labs are located in Toronto, Ontario. For more information visit MedMira’s website at www.medmira.com. This news release contains forward-looking statements, 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. -30- Contacts: Dr. James Smith, Investor Relations & Corporate Affairs Tel: [phone] E-mail: [e-mail]