, Jan. 13, 2014
/PRNewswire/ - MedMira Inc., (MedMira) (TSXV: MIR),
a developer of rapid testing technologies and solutions, today
announced a U.S. distribution agreement with VWR International LLC, a
global solutions provider of laboratory supplies and services with
worldwide sales in excess of $4.1 billion
Through this new agreement, MedMira will benefit from the breadth and
depth of VWR's experience in reaching various U.S. industries including
research, education and healthcare. VWR is selling MedMira's Miriad
platform technology as well as its Reveal G3 rapid HIV test. In the
future, MedMira and VWR will expand more rapid testing products to its
"MedMira's proven technology and rapid tests will offer our customers
the benefits of faster test times and simplified test procedures," said
Mark McLoughlin, Senior Vice President and President of VWR's U.S. Lab
Business. "We are very excited to add MedMira's products to our
extensive portfolio and to work closely with MedMira on their strategic
"This agreement is a cornerstone of the foundation for MedMira's future
strategy," said Kevin Jones, Ph.D., senior director, global sales and
marketing, MedMira. "VWR has more than 300 U.S. representatives on the
ground every day, in laboratories, universities and businesses in a
variety of industries. We are thrilled and committed to work alongside
VWR to bring our technologies and solutions to a much broader U.S. user
base than we previously were able to reach."
The U.S. accounts for 40 percent of global in vitro diagnostics sales,
which are expected to reach an estimated value of $74.2 billion
globally by 2018 (Transparency Market Research). Rapid testing for
diseases such as HIV and Hepatitis are an increasingly important
segment of the U.S. diagnostics industry. The CDC recently implemented
revised guidelines calling for routine HIV screening of all people aged
15-65 and all pregnant women in the U.S. as part of the normal course
of medical care. Public health organizations in the U.S. are also
ramping up screening programs to detect Hepatitis C infection; it is
estimated that there are 3.2 million people in the U.S. infected with
Hepatitis C, 50 to 70 percent of whom are unaware of their infection.
MedMira is a leading developer and manufacturer of rapid testing
technology and solutions. 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 and Miriad brands in global
markets. MedMira's patented 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, which involve
risk and uncertainties and reflect the Company's current expectation
regarding future events including statements regarding possible
approval and launch of new products, 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.