RE: SEPTEMBERThis month is starting off in the right direction.............................Shipment of One-Quarter Million Rapid HIV Tests to United States
9/2/03
MedMira Inc. ('MedMira') announced that it has completed the first major milestone following the approval this past April of the Reveal(TM) Rapid HIV-1 Antibody Test for the United States healthcare market. Last week, the Company surpassed 250,000 units shipped to its American distributor.
'We anticipated the swift market acceptance of the Reveal(TM) Rapid HIV-1 Antibody Test'said Stephen Sham, CEO of MedMira. 'This rapid buy-up of our product reinforces our long-time belief that front-line healthcare professionals have been awaiting the availability of a rapid, easy-to-use HIV testing product such as ours.'
'We are extremely pleased with the market response to our leading product and are especially proud of the dedication and commitment demonstrated by our employees during the transition to manufacturing operations,'Sham continued, 'This combination of market acceptance and excellent employee support leads us to anticipate a very optimistic future for our Company.'
MedMira (www.medmira.com) is a commercial biotechnology company that develops, manufactures and markets qualitative, in vitro diagnostic tests for the detection of antibodies to certain diseases, such as HIV, in human serum, plasma or whole blood. MedMira's Reveal(TM) and MiraWell(TM) Rapid HIV Tests have been approved by the United States FDA and SDA in the People's Republic of China, respectively. All of MedMira's diagnostic tests are based on the same flow-through technology platform thus facilitating the development of future products. MedMira's technology provides a quick (under 3 minutes), accurate, portable, safe and cost-effective alternative to conventional laboratory testing.
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's quarterly filings.
CONTACT: TEL: (902) 450-1588 Dr. James Smith
E-mail: ir@medmira.com