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HALIFAX, Nov. 9, 2009 (Canada NewsWire via COMTEX) --
MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and solutions, Andurja AG (Andurja), a Swiss investment company based in Lucerne, Switzerland announced today the completion of a CDN$2 million equity investment from Andurja to MedMira initiated on October 7, 2009. Andurja's owner Mr. Urs Meile is the controlling and majority shareholder of Vitest AG (Vitest), MedMira's business development partner in Europe and Africa.
Under the terms of the deal Andurja acquired 40,000,000 equity units at $0.05 per unit. Each equity unit consists of one common share and one common share purchase warrant. Each full warrant entitles Andurja to purchase one common share of MedMira at $0.06 per share for the first year period while the second and third year are exercisable for one common share at a price of $0.10 per common share. The common shares are subject to a four month hold period that expires on March 4, 2010. With the completion of this transaction, Andurja now owns 19.85% of common shares of MedMira and will take a seat on the Company's Board of Directors.
About Andurja AG/Vitest AG
Andurja AG is a holding company of Vitest AG. Vitest AG is a privately held company based in Wollerau, Switzerland (www.vitest.ch) with a corporate subsidiary in Germany (Vitest GmbH) and South Africa (Vitest Southern Africa Ply). Vitest is the manufacturer/distributor of medical rapid tests and known well for their high quality products. The company provides doctors offices, clinics, private companies, NGOs and government institutions with innovative rapid tests. With the introduction of Vitest HIV to the African and German market, Vitest takes the lead in the latest AIDS prevention movement to reduce the number of new HIV infections in the developed and the developing world, by making better diagnostics more widely available. For more information about Vitest, please contact Nicholas Dellaportas (n.dellaportas@vitest.ch), Director of Business Development and Sales, Vitest AG, UK - 33 Thames Point, The Boulevard, Imperial Wharf, London, SW6 2 SX, +44 77111 826550, Fax. +4420 7371 5110.
About MedMira
MedMira is a leading developer and manufacturer of flow-through rapid diagnostics. 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(R), MiraWell(R), MiraCare(TM) and Multiplo(TM) brands in global markets. MedMira's rapid 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. 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.
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The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this statement.
>>
%SEDAR: 00013053E
SOURCE: MEDMIRA INC.
Andrea Young, MedMira, (902) 450-1588, ayoung@medmira.com
Tags: africa aids business canada china clinical corporate doctors equity europe germany government hiv infection investment london manufacturer manufacturing market medical nasdaq nova scotia products sales south africa switzerland technology unions
HALIFAX, Oct. 7, 2009 (Canada NewsWire via COMTEX) --
MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and solutions, announced today that the Company will receive CDN$2 million in an equity investment from Andurja AG (Andurja), a Swiss company based in Lucerne, Switzerland.
Andurja is a privately owned Swiss investment company wholly owned by Mr. Urs Meile. Andurja is the controlling and majority shareholder of Vitest AG (Vitest), MedMira's strategic partner leading business development initiatives for Europe and Africa. Vitest has made significant progress with MedMira's line of rapid diagnostics, developing several key markets within these regions.
"I am pleased to have been given an opportunity to make this timely investment into MedMira. It has strengthened our commitment and brought our strategic partnership to the next level," said Mr. Urs Meile, Chairman of Andurja AG and Vitest AG. "We have identified many key opportunities for advanced rapid diagnostics and have seen first-hand the need for these products. We are confident that together with MedMira we can deliver the right solutions."
This newest partnership initiative between Vitest and MedMira will advance the reach and market share of both companies in the global diagnostics sector, with a particular focus on developing countries where rapid testing is most needed and most useful. The partners will draw on each others strengths, knowledge, and expertise to provide comprehensive, advanced rapid diagnostics solutions to customers.
"Our partnership strategy offers key partners like Vitest a unique business opportunity to significantly increase revenue streams through profit sharing, enhancing our combined capabilities in delivering rapid diagnostic solutions," said Hermes Chan, CEO, MedMira. "We are excited to expand our partnership with Vitest in this way and believe that the results will be very positive in increasing profit and market share. This new capital will certainly expedite the development and commercialization of new product offerings."
Under the terms of the deal Andurja will acquire 40,000,000 equity units at $0.05 per unit. Each equity unit consists of one common share and one common share purchase warrant for a period of three years from the closing date. Each full warrant entitles Andurja to purchase one common share of MedMira at $0.06 per share for the first year period while the second and third year exercisable for one common share at a price of $0.10 per common share. Under the terms of this transaction, Andurja will become a 19.85% shareholder of MedMira and this could increase to 33.13% if all warrants are exercised. Andurja has the right to nominate one director to the Board of MedMira.
This transaction is subject to a voting by disinterested shareholders via written consent. TSX (Venture Exchange) approval is also required before the transaction came be finalized.
About Andurja AG/Vitest AG
Anduja AG is a holding company of Vitest AG. Vitest AG is a privately held company based in Wollerau, Switzerland (www.vitest.ch) with a corporate subsidiary in Germany (Vitest GmbH). Vitest is the manufacturer of medical rapid tests and known well for their high quality products. The company provides doctors offices, clinics and government institutions with innovative rapid tests. With the introduction of Vitest HIV to the German market, Vitest takes the lead in the latest AIDS prevention movement to reduce the number of new HIV infections in Germany, by making better diagnostics more widely available. For more information about Vitest Europe, please contact Christiane Ewel, Head of Marketing and Sales Europe (ch.ewel@vitest.de), Vitest GmbH, D -16761 Hennigsdorf, Neuendorfstrasse 24b, Tel. +49 3302 202 7100, Fax. +49 3302 202 7199 or for Vitest International, please contact Nicholas Dellaportas (n.dellaportas@vitest.ch), Director of Business Development and Sales, Vitest AG, UK - 33 Thames Point, The Boulevard, Imperial Wharf, London, SW6 2 SX, +44 77111 826550, Fax. +4420 7371 5110.
About MedMira
MedMira is a leading developer and manufacturer of flow-through rapid diagnostics. 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(R), MiraWell(R), MiraCare(TM) and Multiplo(TM) brands in global markets. MedMira's rapid 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. 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
SOURCE: MEDMIRA INC.
Andrea Young, (902) 450-1588, ayoung@medmira.com
Tags: acquisition africa aids business canada ceo china clinical corporate doctors equity europe germany government hiv infection investment london manufacturer manufacturing market market share marketing medical nasdaq new product nova scotia partnership products profit revenue sales switzerland technology unions
HALIFAX, Sep. 11, 2009 (Canada NewsWire via COMTEX) --
MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and solutions, announced today that it has completed the draw down against its equity line of credit with YA Global Investments LP which was announced on August 21, 2009. MedMira will use this capital to support new and ongoing sales and business development action plans.
Under the terms negotiated in the equity line, YA Global Investments has purchased 2,604,639 common shares from MedMira at an average price of $ 0.0576 which is 96.5% of the daily volume weighted average price ("VWAP") over a 10 day pricing period, beginning on August 24, 2009 and ending on September 4, 2009 for net proceeds of $142,500.00 representing the draw down amount ($150,000.00) less a 5% utilization fee. The shares are not subject to a hold period.
About MedMira
MedMira is a leading developer and manufacturer of flow-through rapid diagnostics. 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(R), MiraWell(R), MiraCare(TM) and Multiplo(TM) brands in global markets. MedMira's rapid 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. 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
SOURCE: MEDMIRA INC.
Andrea Young, MedMira, (902) 450-1588, ayoung@medmira.com
Tags: business canada china clinical corporate equity hiv manufacturer manufacturing market nasdaq nova scotia sales technology unions
HALIFAX, Sep. 24, 2009 (Canada NewsWire via COMTEX) --
MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and solutions, announced today that the Company's rapid HIV test approval has been renewed and is now classified as medical device in China.
The regulatory license for MedMira's rapid HIV test, issued by China's State Food and Drug Administration (SFDA), was successfully renewed and re-classified as part of the ongoing healthcare reforms taking place in the country. As a regulated medical device, MedMira's rapid HIV test can be used in new and growing healthcare sectors including community diagnostic centers and mobile out-reach clinics.
"Similar to the US Food and Drug Administration's medical device regulations, this new classification allows MedMira to overcome a major hurdle in accessing the lucrative China market and we make another step forward in our long term business development plan for the Asia Pacific region," said Hermes Chan, CEO, MedMira Inc. "Local manufacturing is in place, our strategic sales and distribution partner, Triplex, is now up and running, and new markets are open to us with this new classification. With all of these favorable market conditions aligned and a shortened sales cycle we are now positioned to recognize an increase in revenue from rapid HIV tests sales in China in the coming quarters."
Classified as a drug product by the country's regulators since its initial market entry in 2004, MedMira had experienced a number of complex market barriers in selling its rapid HIV test in large volumes throughout China. The new medical device classification means greater flexibility in regulatory guidelines, making it logistically easier to sell the rapid HIV test in all regions and all healthcare sectors in China.
"We are exploring every sales opportunity for MedMira's rapid HIV test and look forward to increasing sales of this key product in the coming months," said Yiu Ming Fung, President and Chairman of Triplex International Biosciences Co., Ltd. "This newly granted approval under the medical device classification is a significant step forward in proactively promoting and selling the product in all segments of our market and is also setting the stage for the pending regulatory approvals of the five additional MedMira rapid tests we are currently adding to our product portfolio."
About MedMira
MedMira is a leading developer and manufacturer of flow-through rapid diagnostics. 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(R), MiraWell(R), MiraCare(TM) and Multiplo(TM) brands in global markets. MedMira's rapid 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. 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
SOURCE: MEDMIRA INC.
Andrea Young, (902) 450-1588, ayoung@medmira.com
Tags: business canada ceo china clinical community corporate fda healthcare hiv local manufacturer manufacturing market medical nasdaq nova scotia president regulations revenue sales technology unions
Total : 50 View more »
Acquires SensorChem to Expand World Class Diagnostic Product Line HALIFAX, Dec. 15 /PRNewswire-FirstCall/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF) the global market leader in premium rapid diagnostic solutions, announced today that it has acquired SensorChem International Corp.
http://www.cheviotartus.co.uk/pre_employment_questionnaires/pre_employment_questionnaires_478.html
AHD is the exclusive US distributor for MedMira Laboratories Inc., a Canadian biotechnology company. Our products currently include rapid diagnostic test kits for laboratories, physician offices, hospitals and clinics.
http://www.foodservicecentral.com/storefronts/americanhealthdiagnostics.html
2006 NOV 15 - (NewsRx.com) -- MedMira Inc. (MIR), a developer of rapid diagnostic solutions, announced that it has received United States Food and Drug Administration (FDA) approval for its Reveal G3 Rapid HIV-1 antibody test (Reveal G3).
http://www.pharmacychoice.com/News/article.cfm?Article_ID=41195
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