MedMira Inc. awarded US patent for rapid test technology

Jul 17 2008

MedMira Inc. announced today that it received a Notice of Allowance from the United States Patent and Trademark Office for its rapid flow-through test (RFT) methodology, the technology platform its rapid tests are built on.

This patent protects the core innovation behind MedMira's fully commercialized line of rapid tests. The test can be used as an aid to diagnose one or multiple diseases using one test device and a single drop of blood. The Company's rapid tests have performed exceptionally well in rigorous clinical trials, earning regulatory approvals in major international markets including the United States, Canada, China, India, and the European Union. In a recent study led by Dr. S. M. Owen and published in the May 2008 issue of the Journal of Clinical Microbiology, MedMira's rapid HIV had the highest sensitivity and specificity of the FDA approved rapid tests assessed in the study. Additional results in the same study demonstrated that MedMira's rapid HIV detected early infection better than the other rapid tests and closely matched the performance of much more complex enzyme tests. MedMira is now poised to capitalize on its intellectual property estate in North American and the European Union through its partnership development strategy and program.

"Being awarded this new US patent clearly reinforces MedMira's position as the owner of one of the two most recognizable rapid diagnostic technologies in the global marketplace. It further increases the overall value of our company and creates future revenue potential through the formation of strategic relationships with development and licensing partners, bringing new, advanced rapid tests to the global healthcare market," said Hermes Chan, President & CEO, MedMira Inc. "MedMira is well positioned to offer diagnostics developers a comprehensive solution as they create new rapid tests for global healthcare needs. Our RFT technology has unique capabilities and benefits that are unmatched by alternative technologies on the market today."

MedMira's RFT platform is uniquely capable of simultaneously detecting multiple disease markers in a single specimen in less than three minutes, a critical element for diagnostics developers creating streamlined products to meet the demands of increasingly under-resourced and under-funded healthcare systems. Building tests on MedMira's RFT technology enables multiple results using the same resources and materials required for a single diagnosis with rapid tests built on the alternative technology platform.

http://www.medmira.com