Deal links MedMira with one of China's leading and oldest pharmaceutical companies HALIFAX, Aug. 9 /PRNewswire-FirstCall/ -- MedMira Inc. ("MedMira") (TSX Venture: MIR, NASDAQ:MMIRF), the global market leader in rapid flow-through diagnostic technology announced today that it has entered into a new strategic partnership with Tianhe Pharmaceutical Co., Ltd., established in 1952, one of the most successful pharmaceutical companies in China, and one of the country's Top 200 Companies in 2004. MedMira and Tianhe have formed a joint venture which will open new market verticals in China including over-the- counter (OTC) sales for MedMira's current and future rapid diagnostic products. "The rapid growth of China's economy and the recent entry of China into the World Trade Organization make this region the biggest future market for high quality in-vitro diagnostics (IVD) products. We are very excited about this opportunity and pleased to be partnering with MedMira, the global leader of rapid flow-through diagnostic technology." said Mr. Guifa Tan, chairman and CEO, Tianhe Pharmaceutical Co., Ltd. "Together we will be able to fully utilize our resources to increase market share in all Asian countries, particularly in China. We look forward to working with MedMira's executives and are confident that this will be a very long and successful venture for both companies." "Our entry into China's rapid HIV testing market has progressed steadily over the past 24 months; and to date, we have been very successful in establishing country-wide recognition for our high quality rapid HIV tests. Such recognition has lead to this joint venture opportunity as we look to introduce new products and enter new vertical markets. We are very confident that Tianhe Pharmaceuticals is the best strategic partner for MedMira," said Stephen Sham, chairman and chief executive officer of MedMira." Sham continued, "This joint venture will help MedMira to bring our rapid diagnostic solutions closer to the end-users while improving our competitive position in one of the world's largest markets. Tianhe has over 50 years of medical and pharmaceutical experience in the direct consumer market in China. They will be very valuable in helping us launch our next generation of rapid tests, including the newest rapid HIV test for whole blood, serum and plasma, into China's consumer market in the very near future." The joint venture signifies another step in MedMira's progression to a fully commercial company with increased global presence. The joint venture will see some production in China, while the majority of research and development and manufacturing will remain in Nova Scotia at MedMira's global headquarters, directly resulting in additional jobs in Nova Scotia, while allowing for faster approval of new products in China and speedier entrance into other Asian markets. About Tianhe Pharmaceutical Co., Ltd. Found in 1952, Tianhe Pharmaceutical Co., Ltd is located in Guilin city of Guangxi province, China. With more than 2.7 billion RMB in 2004 annual sales and over 450 staff, Tianhe Pharmaceutical Co., Ltd. is one of China's top 200 best performance and well established companies. For more information visit http://www.tianhe.com/. 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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