– MedMira Inc., (“MedMira”) (TSX Venture: MIR,

NASDAQ: MMIRF) the global market leader in premium rapid diagnostic solutions,

announced today that it has closed the transaction to acquire SensorChem International

Corp. (“SensorChem”), that was announced on December 15, 2005.

“We are very excited about the completion of the SensorChem acquisition,” said

Stephen Sham, chairman and CEO, MedMira. “Our new division, Maple BioSciences,

will focus on the commercialization of the breakthrough technologies developed by

SensorChem, bringing to market a new product line and further strengthening

MedMira’s world class suite of diagnostic products.”

Under the terms of the acquisition agreement, MedMira has acquired all of the

outstanding common shares of SensorChem, and retired $1,374,129 in SensorChem debt

and preferred share interests for total consideration of $2,063,729. As consideration for

the transaction, including the debt retirement, MedMira has issued 2,948,184 common

shares at a price of $0.70, including 409,973 common shares to a director of MedMira.

Under the terms of the acquisition agreement, certain shareholders have agreed to

trading restrictions where 2,373,042 of the shares issued cannot be traded for 180 days

from the date of closing and 470,000 shares will be restricted from trading for up to 3

years from the date of closing.

This transaction was subject to the provisions of National Instrument 61-501. Certain

aspects of the National Instrument that apply to "related party" transactions were not

applicable. The Company relied on certain exemptions from this National Instrument,

specifically an exemption from the valuation requirement in Section 5.4, by virtue of

Paragraph 5.5(2), and an exemption from the minority shareholder approval

requirement in Section 5.6, by virtue of Paragraph 5.7(2). In both cases the Company

qualifies for an exemption as this transaction represents less than 25% of the market

capitalization of MedMira. In addition, the transaction was subject to the review and

approval of the Board of Directors without the participation of the director of the

Company who was a related party of SensorChem.

™ G2 and MiraWell® rapid HIV tests, respectively.

-moreMedMira’s