Medmira (PK) (USOTC:MMIRF)
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MedMira Receives New Annual Standing Order for OTC Rapid HIV
Tests from Hong Kong Distributor
Reaches Long-Term Agreement to Answer Growing Market Demand
HALIFAX, May 12 /PRNewswire-FirstCall/ -- MedMira Inc., ("MedMira") (TSX
Venture: MIR, NASDAQ: MMIRF) the global market leader in rapid flow-through
diagnostic technology, announced today that it has received a monthly standing
order for the next year from Goodman Medical Supplies Ltd, its Hong Kong
distributor, for its MiraCare(TM) Rapid HIV Test (MiraCare(TM)), as part of a
three year distribution agreement. MiraCare(TM), an over-the-counter (OTC)
rapid HIV test, is distributed to pharmacies in Hong Kong and Macao, in the
People's Republic of China.
Since the launch of MiraCare(TM) at the end of January 2005, MedMira has been
shipping 5,000 tests monthly to Goodman, to fulfill a standing order based on
their initial sales estimates. The market success experienced to date has
resulted in MedMira entering into a new three year distribution agreement with
Goodman for the Hong Kong and Macao regions. The new annual standing order,
which begins in July 2005, increases the monthly shipment to 20,000 units.
"MiraCare(TM) is our highest profile product, and it is quickly becoming one of
MedMira's market leaders," said Stephen Sham, chairman and chief executive
officer of MedMira. "Goodman's extensive experience in medical supply
distribution has been clearly demonstrated by its timely, and very successful,
expansion into new market verticals for our product."
Collen Chan, managing director of Goodman Medical Supplies Ltd. said, "The
general public is extremely receptive to the convenience of purchasing such a
high quality, easy-to-use rapid HIV test that provides immediate results. It is
becoming obvious that people want to learn their HIV status privately." Chan
continued, "MedMira's OTC rapid HIV test is a proven success in our
distribution network. Our success to date will serve as the basis for expansion
of the MiraCare(TM) product line in our sales territory."
MiraCare(TM) is sold as a complete test package with all components required
for an individual to conduct the test quickly; with results showing in just
three minutes.
About MedMira
MedMira is the leading global manufacturer and marketer of in vitro flow-
through rapid diagnostic tests for the clinical laboratory market. MedMira's
tests provide reliable, rapid diagnosis in just 3 minutes for the detection of
human antibodies in human serum, plasma or whole blood for diseases such as
HIV. The United States FDA and the SFDA in the People's Republic of China have
approved MedMira's Reveal(TM) G2 and MiraWell(TM) Rapid HIV Tests,
respectively.
MedMira's Reveal(TM) G2 and MiraWell(TM) rapid HIV tests are currently used in
clinical laboratories and hospitals where professional counselling and patient
treatment are immediately available.
The MiraCare(TM) Rapid HIV Antibody Test is available over-the-counter (OTC) in
pharmacies throughout the Hong Kong and Macao Special Administrative Regions,
in the People's Republic of China.
MedMira markets its rapid tests worldwide in such countries as the United
States, Canada, South Africa and China. Its corporate offices and manufacturing
facilities are located in Halifax, Nova Scotia, Canada with a representative
office in Beijing, China.
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.
For more information visit MedMira's website at http://www.medmira.com/.
DATASOURCE: MedMira Inc.
CONTACT: Dr. James Smith, Investor Relations, Tel: (902) 450-1588,
E-mail: