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For a further discussion of the Company's financial results for the three and six month periods ended June 30, 2008, please refer to the Company's unaudited interim consolidated financial statements and related MD&A, which can be found at www.responsebio.com, SEDAR (Canada) www.sedar.com or EDGAR (U.S.) www.sec.gov/edgar/searchedgar/webusers.htm. Information at these sites is typically available within 24 hours of the distribution of the news release.
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Corporate Update
"We have made tremendous progress in the second quarter of 2008," said S. Wayne Kay, Chief Executive Officer. "Our announced strategic partnership with Roche Diagnostics, the largest in vitro diagnostics company in the world, to commercialize our cardiovascular tests and new RAMP(R) 200 Reader solidifies our commercialization strategy. Coupled with our partnerships with 3M and Shionogi, we believe we are poised for rapid market expansion of our RAMP(R) platform."
"The key to Roche's marketing launch for the cardiovascular line of products was for us to receive the U.S. FDA clearance of the NT-proBNP assay for the diagnosis of heart failure. Subsequent to the end of the second quarter we received this clearance, paving the way for an expected launch of the cardiovascular product line on the new RAMP(R) 200 analyzer in the first quarter of 2009. Roche is very focused on training their extensive sales force and we are preparing for the manufacture of the large number of co-branded Readers and test kits to support that launch. The global POC cardiac market is expanding dramatically and Roche will be putting the resources in place to take advantage of this opportunity."
About Response Biomedical
Response Biomedical develops, manufactures and markets rapid on-site diagnostic tests for use with its RAMP(R) Platform for clinical and environmental applications. RAMP(R) represents a new paradigm in diagnostics that provides high sensitivity and reliable information in minutes. It is ideally suited to both point-of-care testing and laboratory use. The RAMP(R) system consists of a Reader and single-use disposable test cartridges, and has the potential to be adapted to more than 250 medical and non-medical tests currently performed in laboratories. RAMP(R) clinical tests are commercially available for the early detection of heart attack and congestive heart failure.
In late 2006, the Company formed a strategic alliance with 3M Company to commercialize rapid infectious disease tests and in 2008 entered into a strategic alliance with Roche Diagnostics to commercialize cardiovascular POC tests worldwide.
In the non-clinical market, RAMP(R) Tests are currently provided for the environmental detection of West Nile Virus, and Biodefense applications including the rapid on-site detection of anthrax, smallpox, ricin and botulinum toxin. Several other product applications are under development. Response has achieved CE Marking and its Quality Management System is registered to ISO 13485: 2003 and ISO 9001: 2000.
Response Biomedical is a publicly traded company, listed on the TSX under the trading symbol "RBM" and quoted on the OTC Bulletin Board under the symbol "RPBIF". For further information, please visit the Company's website at www.responsebio.com.
Statements contained in this press release relating to future results, events or developments, for example, statements containing the words "believes," "may," "could", "plans," "will," "estimate," "continue," "anticipates," "intends," "expects", "goal" and similar expressions, are "forward-looking statements" or "forward-looking information" under
