Tests Detect Prostate, Breast Cancer
ECONOMIC DEVELOPMENT/TOURISM-Tests Detect Prostate, Breast Cancer
MedMira Laboratories Inc. announced today it has developed two rapid screening tests for breast cancer and prostate cancer.
The company has also reached an agreement with Schein Pharmaceutical Canada Inc. for Schein to distribute MedMira products throughout the country. Both announcements were made during the official opening of MedMira's new research and manufacturing facility in Bayers Lake Industrial Park, Halifax.
"The development of these tests for two of the most common forms of cancer marks yet another milestone for MedMira," said Stephen Sham, company president and CEO. "Clinical trials in Europe have shown that the tests provide 95 per cent accuracy in detecting these diseases."
Each test requires only two minutes for a diagnosis. Conventional methods can take up to two weeks.
The company made news this summer when it announced development of a two-minute HIV test for laboratory use. The product is the only test of its kind approved by Health Canada. MedMira has also developed similar fast-action tests for hepatitis B and C. The product is manufactured at the Bayers Lake facility for distribution in Europe.
"MedMira is an impressive company and one that the province is proud to support," said Manning MacDonald, Minister of Economic Development and Tourism. "The products developed and manufactured in this new facility will soon be exported to customers all over the world. And that's great news. New exports create jobs for Nova Scotians.
"Research and development activities at this new facility are also bringing a lot of attention to our province -- the attention of medical and biotechnology experts and investors from all over the world."
Said Mr. Sham: "There's already been considerable interest globally for our products. We're quite excited about the future prospects for the company."
The new facility at Bayers Lake was designed to expand the company's research and development activities and its manufacturing capabilities.
"MedMira's revolutionary technology holds tremendous promise for men and women worldwide," said Health Minister Jim Smith. "The success of the clinical trials that are under way brings new hope to people living in fear of developing these devastating diseases."
The expansion of MedMira into Bayers Lake Business Park was announced earlier this year. The company's investment in the Nova Scotia operation and its product development has been $3.5 million to date. The province of Nova Scotia invested $960,000.
MedMira Laboratories Inc. is a Canadian Medical Biotechnology company established in 1992. The company employs 30 people at Bayers Lake.