In a short time, MedMira has developed an RVF®-based rapid test that detects total antibodies
to the SARS-CoV-2 virus, the causative agent of COVID-19, in human serum, plasma and
venipuncture whole blood.
Despite our financial constraints, MedMira, relying solely on our
dedicated team and stakeholders, was able to develop and validate the newest member of our
Reveal family, REVEALCOVID-19™ Total Antibody Test.
REVEALCOVID-19™ Total Antibody
Test is currently being manufactured under strict Good Manufacturing Practices (GMPs) at our
FDA-approved Halifax facility and in collaboration with our US-based partners.
Weekly
production shall, without a doubt, increase to the level required by our trusted distribution and
sales partners.
Since we announced the development of REVEALCOVID-19™ Total Antibody Test in April, we
have received many inquiries from our shareholders.
We have also become aware of a number
of inaccurate claims pertaining to MedMira. While it is not our policy to respond to market
rumors, I want to take this opportunity and provide additional clarity to our shareholders and
other stakeholders.
As a publicly listed company that strives for the highest quality of its
product, we take our disclosure obligations seriously and will only publish information that is
fully validated.
MedMira has submitted an Emergency Use Authorization (EUA) application to the United States
FDA.
At this time, REVEALCOVID-19™ Total Antibody Test application is under review.
During
the review, however, according to the FDA regulations, MedMira can legally sell and distribute
REVEALCOVID-19™ Total Antibody Test to the authorized laboratories in the United States.
MedMira plans to pursue these opportunities using its existing internal resources, which include
the recently made large product sale.
Following this successful agreement Company is able to
fulfill the needs of production as well as supply our trusted partners. Despite our difficult
financial position, in the past four years MedMira has raised its capital by means other than the
issue of new shares in order to preserve shareholder value.
At this point, MedMira is not
considering a capital raise and will not issue new shares and dilute our current shareholders.
We live in a world in which various information sources and opinions are available, however, not
all of them are trustworthy. MedMira’s management team is committed to providing timely and
transparent disclosure pertaining to our business and give reliable information to our
stakeholders.
With this letter we would like to re-emphasize MedMira Inc. due diligence in the
efforts to reassure our investors.
On behalf of MedMira’s team we thank you for your support and personally I am grateful to be a part of
this Company.
Yours sincerely,
Hermes Chan
Co-Founder and CEO
MedMira Inc.
