MedMira Expands Market Presence in Latin America
July 05 2005 - 10:24AM
PR Newswire (US)
MedMira Expands Market Presence in Latin America Product
Registrations Completed in Argentina, Peru and Panama HALIFAX, July
5 /PRNewswire-FirstCall/ -- MedMira Inc., ("MedMira") (TSX Venture:
MIR, NASDAQ: MMIRF) the global market leader in rapid flow-through
diagnostic tests, announced today that it has expanded its market
presence in Latin America with the completion of product
registrations in Argentina, Panama, and Peru. Registrations in
these three key Latin American markets enable MedMira to continue
with the current tender processes leading to the sale of its
MiraWell(R) Rapid HIV Test and HIV/Hepatitis C (HCV) combination
test to healthcare facilities as well as national government
sponsored treatment and prevention programs. MedMira along with its
distributors in these regions, Genesis and Exportrade, have been
working hard to complete the rigorous medical device registration
process for its rapid flow-through diagnostic tests in these three
Latin American countries. MedMira's rapid tests are the fastest
flow- through diagnostic tests in the world, providing results in 3
minutes. Rapid diagnostic tests present significant value in the
Latin American market, where the HIV epidemic remains concentrated
among high risk groups including IV drug users (IDU) and sex trade
workers. The World Health Organization estimates that nearly 70% of
HIV-positive IDUs are also infected with HCV. People in these high
risk categories typically visit mobile testing clinics, with a very
low percentage returning for their test results. Using MedMira's
tests, these types of clinics will be able to provide immediate
test results and appropriate counselling options at the time of
testing. Giles Crouch, vice president of sales and marketing with
MedMira said, "We have established a solid foothold in other
regions of Latin America, including the Caribbean and Belize, and
the time is right to expand into Argentina, Peru and Panama.
Governments in the region have realized that prevention is
fundamental in the fight against HIV/AIDS and Hepatitis C and are
beginning to fund testing and treatment programs and are demanding
high- quality tests." Crouch added, "Our strong working
relationships with Exportrade and Genesis helped us to quickly
recognize the market potential in these countries and build on
their market position in the region." According to the Regional
AIDS Initiative for Latin America and the Caribbean (SIDALAC) and
the World Bank there are 2 million people living with HIV in the
region. The rate of infection is on the rise with approximately 567
people contracting HIV every day, resulting in over 200,000 new
infections per year. Globally, as many as 40% of people who are
HIV-positive may also be co- infected with HCV. The World Health
Organization estimates that there are 170 million people infected
with HCV and as many as 3 to 4 million new people are infected each
year. About MedMira MedMira is the leading global manufacturer and
marketer of in vitro flow- through rapid diagnostic tests.
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 and hepatitis C. The United
States FDA and the SFDA in the People's Republic of China have
approved MedMira's Reveal(TM) G2 and MiraWell(R) rapid HIV tests,
respectively. MedMira's Reveal(TM) G2 and MiraWell(R) rapid HIV
tests are currently used in clinical laboratories, hospitals, and
clinics where professional counselling and patient treatment are
immediately available. The MiraCare(TM) Rapid HIV Antibody Test,
MedMira's over-the-counter (OTC) product, is available in
pharmacies throughout Hong Kong and Macao Special Administrative
Regions, in the People's Republic of China. MedMira delivers rapid
diagnostic solutions to healthcare communities around the globe.
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:
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