MedMira Wins $4.2 million U.S. Army Contract to Commercialize Rapid Triple Test
HALIFAX, July 3, 2012 /PRNewswire/ – MedMira Inc., (MedMira) (TSXV: MIR), a
developer of rapid diagnostic technology and solutions, announced today
that it has been awarded a U.S. Army Medical Research Acquisition
Activity (USAMRAA) contract to develop and commercialize a rapid test
capable of simultaneous detection of HIV and Hepatitis B and C.
The contract, awarded through a competitive bid process, involves a
two-year base period and a 10-month option with a value of
USD$4,266,144, if all options are exercised. MedMira presented its
technology and multiple rapid test, which met the U.S. Army’s advanced
technology readiness level requirements. The Multiplo Rapid
HBV/HIV/HCV Antibody Test resulting from this contract award will be
deployed on the frontlines of military healthcare for use in emergency
screening for transfusion transmitted diseases where no FDA approved
donor screening tests are available. The military could also put the
test to use during pre and post deployment screenings and civilian
disaster relief efforts.
“We are thrilled to receive this new contract from USAMRAA for the
development and commercialization of our Multiplo test. This contract
award demonstrates the excellent fit between MedMira’s technology and
products and military requirements. We have built a lasting
relationship with the U.S. Army, delivering advanced diagnostic
solutions that reduce the need for militaries to undertake ground-up
development work,” said Hermes Chan, CEO, MedMira Inc. “MedMira’s
technology and products are elegantly simple, portable, fast, and high
quality. All of these attributes are mission critical in deploying
diagnostic healthcare solutions on the frontlines of military
Chan continued, “Our team recently attended a conference focused on
military pre-hospital trauma management where we heard first hand of
the need for a multiple rapid HBV/HIV/HCV test from many of the leading
experts, military personnel, and medical professionals in this field.”
Under contract number W81XWH-12-C-0151 the U.S. Army will fund all
development costs and associated fees in obtaining a U.S. Food and Drug
Administration (FDA) premarket approval (PMA) for this multiple rapid
test. The scope of work under this contract will see MedMira advance
and fully commercialize a multiple rapid test that will simultaneously
detect three of the most serious infectious diseases, namely HIV-1/2,
Hepatitis B, and C antibodies within three minutes using just a small
drop of blood. Once approved, the product will be supplied by MedMira
directly to the U.S. Army and to other customers throughout the world,
both military and civilian, via the Company’s distribution network.
“A multiplexed test for transfusion transmitted diseases provides an
enabling technology that will be used to mitigate risk in austere
environments where emergency blood collections are necessary to save
lives of severely wounded war fighters,” said Colonel Richard Gonzales,
Product Manager, U.S. Army Medical Materiel Development Activity.
MedMira is a leading developer and manufacturer of flow-through rapid
diagnostics and technologies. The Company’s tests provide hospitals,
labs, clinics and individuals 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®, Multiplo(TM) and Miriad brands
in global markets. MedMira’s rapid flow-through HIV test is the only
one in the world to achieve regulatory approvals in Canada, the United
States, China and the European Union. MedMira’s corporate offices 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, including
statements relating to growth in the Company’s business, earnings and
profitability, and trends in demand for the Company’s products, which
involve risk and uncertainties and reflect the Company’s current
expectation regarding future events including statements regarding
possible future growth and new business opportunities. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE MEDMIRA INC.
Image with caption: “Under a US Army contract valued at USD$4.2 million, MedMira will develop and commercialize this multiple rapid test which detects HIV, Hepatitis B and C simultaneously in 3 minutes from a single drop of blood. (CNW Group/MEDMIRA INC.)”. Image available at: http://photos.newswire.ca/images/download/20120703_C5808_PHOTO_EN_15891.jpg