Response Biomedical Announces Closing Of US $8 Million Investment By 3M Company As Part Of Strategic Alliance

VANCOUVER, Dec. 11 /CNW/ - Response Biomedical Corporation (TSX-V: RBM, OTCBB: RPBIF) announced today that it has now closed the US $8 million equity investment made in Response Biomedical by 3M Company. The strategic alliance, announced December 7, 2006, gives 3M Company approximately a 13 percent ownership position in Response Biomedical. The financing is part of a strategic alliance between the two Companies and grants 3M worldwide exclusive rights, through its medical division, to pursue the development and commercialization of diagnostic products targeting hospital and community acquired infectious diseases, using Response Biomedical's RAMP(R) testing platform.