MedMira's Strategic Partnership with Trimedic Inc. Boosts Canadian Market Penetration and Revenue Growth

MedMira Inc. (TSXV:MIR), a leading developer and manufacturer of Rapid Vertical Flow® diagnostics, has announced an exclusive distribution agreement with Trimedic Inc. for the Canadian market. This strategic partnership is expected to significantly impact MedMira's market penetration and revenue growth, particularly in the growing STI rapid test market. Here's how this partnership is set to drive MedMira's success in Canada.

Exclusive Distribution Agreement: MedMira has secured an exclusive distribution agreement with Trimedic Inc., which allows it to expedite its growth in the Canadian market. This exclusivity ensures that MedMira's products will be the primary focus of Trimedic's distribution efforts, increasing their visibility and accessibility to customers.

Health Canada Approved Products: The partnership enables MedMira to leverage Trimedic's network to distribute its recently Health Canada approved Multiplo® TP/HIV and Reveal® G4 HIV rapid tests. These products have been granted Class 4 Medical Device Licenses, the highest regulatory classification for medical diagnostics in Canada. This approval and distribution through Trimedic will help MedMira tap into the growing demand for reliable and fast testing solutions in the Canadian market.

Growing STI Rapid Test Market: The partnership allows MedMira to expand its presence in the growing STI rapid test market. According to the Public Health Agency of Canada, new HIV diagnoses soared more than 35% from 2022 to 2023, with rates in Manitoba rising by more than 40%. In Saskatchewan, the rate of HIV was 19.4 per 100,000 people, more than three times the national rate. Additionally, there were 13,953 reported syphilis cases in 2022, with rates increasing by 109% compared to 2018. These rising cases, particularly in underserved and remote communities, create an urgent need for testing devices like the Multiplo® TP/HIV, which can help reach the undiagnosed living with HIV and/or syphilis.

Trimedic's Established Network: Trimedic Inc. has a well-established network and a knowledgeable team, making it an ideal partner for MedMira's growth and expansion in Canada. Trimedic's focus on expanding access to laboratory quality tests at point-of-care and enabling decentralized diagnostic testing and disease monitoring aligns perfectly with MedMira's product portfolio. This partnership will help MedMira reach a broader range of customers, including hospitals, labs, clinics, and individuals, thereby increasing its market penetration and revenue growth.

In conclusion, the partnership with Trimedic Inc. is expected to significantly impact MedMira's market penetration and revenue growth in the Canadian market, particularly in the growing STI rapid test market. The exclusive distribution agreement, Health Canada approved products, growing market demand, Trimedic's established network, and future product expansion all contribute to this positive impact. As MedMira continues to innovate and expand its product offerings, this strategic partnership will be instrumental in driving its success in the Canadian market.