Rapid Vertical Flow Technology to be used for Fast Track
Development of New Test for Third Most Common Cancer in the
World
HALIFAX, Oct. 8, 2014 /CNW/ - MedMira Inc. (TSXV: MIR) has
been engaged by Beacon Biomedical LLC (Beacon Biomedical) to
develop a rapid colon cancer test on its patented Rapid Vertical
Flow (RVF) Technology™ platform. The test will detect
Cripto-1 (CR-1), a protein biomarker associated with early tumor
formation and progression. Beacon Biomedical has secured the
exclusive global development and commercialization rights for rapid
oncology-based tests using this biomarker from the National Cancer
Institute (NCI) at the National Institutes of Health (NIH) in
the United States.
According to the World Health Organization, colon cancer is the
third most commonly diagnosed cancer worldwide and nearly 700,000
people died from colon cancer in 2012. The lifetime risk of
developing colon cancer is 1 in 20 and regular screening and early
detection are keys to prevention and cure.
"In MedMira, we found the ideal technology platform and partner
we wanted to work with to develop and commercialize a new, patient
friendly point-of-care test for the early detection of colon
cancer," said Donald Weber,
President and CEO, Beacon Biomedical. "MedMira's proven RVF
Technology platform will allow us to dramatically reduce the time
and expense of our design and development phases over that of using
other testing platforms or internalizing the process.
Additionally, their well-established ISO and GMP compliant
manufacturing facilities in Canada, China, and India will enable us to rapidly scale our
production needs to meet global demand."
MedMira RVF Technology is a highly adaptable platform that has
reinvented rapid testing. From a single drop of blood, a test built
upon the RVF Technology platform will deliver, instant, accurate,
single and multiplex results in any setting, from the point-of-use
to the laboratory. RVF test performance has been shown to
rival that of complex laboratory systems in independent studies,
and offers users sensitivity, speed, and simplicity unmatched by
other rapid testing technologies.
"We are pleased to work with Beacon Biomedical and use our RVF
Technology platform to bring an advanced rapid colon cancer test to
healthcare providers and their patients," said Neeraj Vats,
Director Technology and Business Affairs, MedMira Inc. "In
addition to being the engine behind our own clinical testing
applications, RVF Technology is now revealing a world of
possibilities for developers, like Beacon Biomedical, who have an
idea or in this case global rights to a new cancer biomarker, and
want to bring that rapidly to market. By opening up our technology
platform to other developers we are creating new revenue channels
for our Company through contract development, licensing, and OEM
manufacturing."
About MedMira
MedMira is a leading developer and manufacturer of vertical flow
rapid diagnostics. The Company's tests provide hospitals, labs,
clinics and individuals with instant diagnosis for diseases such as
HIV and hepatitis C in just three easy steps. The Company's tests
are sold under the Reveal®, Multiplo™ and Miriad™ brands in
global markets. Based on its patented Rapid Vertical Flow
Technology, 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.com.
About Beacon Biomedical
Beacon Biomedical is an early stage point-of-care diagnostic
company dedicated to providing highly accurate, patient friendly
and affordable cancer screening tests in order to help physicians
increase patient compliance with such tests and in doing so save
more lives. Beacon Biomedical's corporate office is located in
Scottsdale, Arizona, USA.
For more information visit beaconbiomedical.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.