MedMira Announces Chief Financial Officer Transition

HALIFAX, July 11, 2014 /CNW/ - MedMira, Inc. (MedMira) (TSXV: MIR) announced today that Markus Meile has been appointed as the Company's Chief Financial Officer.  Effective immediately, Mr. Meile replaces Jelle Kuypers who has chosen to depart the Company.  Mr. Meile's proficiency in international finance, in addition to his experience in the medical device industry, makes him a valued member of the Company's executive leadership team as it drives MedMira's strategic initiatives forward.  Mr. Kuypers will assist with the transfer of the Company's financial leadership and day-to-day functions to Mr. Meile and his team during a defined transition period.

Mr. Meile has served as a member of MedMira's Board of Directors since 2010, was previously a member of its Audit Committee and, most recently, led the Company's business development activities as Senior Director, International Markets.  Effectively immediately, Mr. Meile will step down from the Board to move into his new role as Chief Financial Officer.

"On behalf of the Board and the management team, I would like to thank Mr. Kuypers for his contributions to MedMira and the support provided to the Company during this transition period. Mr. Kuypers has helped MedMira move to an enhanced financial foundation upon which our future success will be built," said Hermes Chan, CEO, MedMira Inc.

Prior to joining MedMira, Mr. Meile worked with a number of financial institutions in Switzerland, England, and Hong Kong. Mr. Meile holds a BSc from Royal Holloway University of London and has studied business management, strategic planning, investment and accounting at business school in Zurich. Previously, Mr. Meile worked in the medical device industry in Africa, Asia Pacific, and Europe. Mr. Meile will combine his financial expertise with his broad range of international business knowledge to build financial and corporate strategies supporting MedMira's continuing growth and increasing shareholder value.

Mr. Meile's appointment as MedMira's Chief Financial Officer is subject to final approval of the TSX Venture Exchange.

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^â, Multiplo™ and Miriad™ brands in global markets. Based on its patented Rapid Vertical Flow Technology™, MedMira's rapid HIV test is the first 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.

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.