NEWS OUT - CHINA PATENT
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Jul 21, 2008 05:17AM
Rapid Flow-Through Technology Patents in Three Major Global Markets HALIFAX, July 21 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer and marketer of rapid diagnostics, announced today that it received a Notice on Grant of Patent Right For Invention (equivalent to the Notice of Allowance in the United States) from the State Intellectual Property Office (SIPO) of the People's Republic of China for its rapid diagnostic device and assay (Chinese Patent Application No. 02819646.5). The novel invention is the rapid flow-through technology (RFT) platform, the core product engine upon which the company has built its successful line of rapid tests for diseases such as HIV and Hepatitis. This patent rounds out MedMira's IP "triple crown" along with similar patents awarded in the United States (Patent Application No. 10/163,675) and the European Union (European Patent No. EP1417489). "Patents on our core technology in three major global markets are fundamental components of our plan to grow our business through strategic partnerships. While we continue to pursue patent protection for our progressive IP estate in additional markets, we can now fully engage in collaborative relationships to tap opportunities in three of the most lucrative markets of the $40 billion global diagnostics market," said Hermes Chan, President and CEO, MedMira Inc. "These partnerships, taking shape in various forms including licensing, commercialization, and contract manufacturing, will enable both new business and new innovation opportunities for MedMira." Through straightforward and affordable licensing agreements MedMira offers its patented technology platform to diagnostics developers seeking a clear path to the global diagnostics market. While other technologies pose potential roadblocks for developers, MedMira provides a comprehensive, proven solution. The rapid flow-through technology is the core innovation behind MedMira's fully commercialized line of rapid tests. The tests can be used to diagnose one or multiple diseases using one test device and a single drop of specimen. MedMira's rapid tests have performed exceptionally well in rigorous clinical trials, earning "gold standard" regulatory approvals in major international markets including the United States, Canada, China, India, and the European Union. Chan continued, "MedMira's technology development team continues to advance our RFT platform and recently filed a United States patent application for the next generation two step RFT platform. With this next generation RFT platform, we are positioning ourselves and our product portfolio for future market growth in personalized healthcare, when over-the-counter (OTC) rapid testing for infectious diseases and other chronic conditions will be widely available." About MedMira MedMira is a leading developer, manufacturer, and marketer of advanced rapid diagnostics. Built on the Company's patented rapid flow-through technology platform, MedMira's single and multiple rapid tests provide hospitals, labs, clinics and individuals around the world with reliable, diagnosis for diseases such as HIV and hepatitis C in just three minutes. The company's tests, which are sold under the Reveal(R), MiraWell(R), MiraCare(TM) and Multiplo(TM) brands in global markets, have achieved regulatory approvals in Canada, the United States, China, Russia, India, and the European Union. MedMira is an approved supplier to US Agency for International Development (USAID) and the Pan American Health Organization (PAHO). In 2006, MedMira launched the Maple Biosciences division to develop and commercialize diagnostic instruments based on biosensor technology platforms. The new diagnostic solutions will enable routine laboratory tests to be performed in a matter of minutes, increasing automation, and streamlining the diagnosis of multiple conditions and diseases. Together MedMira and Maple Biosciences will be leading participants in the emerging fields of personalized medicine and molecular diagnostics. For more information visit www.maplebio.com. MedMira's corporate offices, R&D, 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, 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. %SEDAR: 00013053E
For further information: Dr. James Smith, Investor Relations & Corporate Affairs, (902) 450-1588, [email protected]