VANCOUVER, March 20 /PRNewswire-FirstCall/ - Response BiomedicalCorporation (TSX: RBM, OTCBB: RPBIF) today announced that it plans to move toits new state-of-the-art global headquarters located at 1781 - 75th AvenueWest, Vancouver, British Columbia on March 31, 2008.
The 46,000 square foot single-occupant specialized use facility wasspecifically designed and constructed for development and GMP manufacturingand distribution of point-of-care (POC) medical diagnostic test kits. ResponseBiomedical designs, develops, manufactures and distributes rapid POC tests foruse with its portable RAMP(R) platform for clinical and environmentalapplications. The new facility should allow manufacturing scale-up fromapproximately 500,000 tests currently manufactured per year to four milliontests per year by mid-2008, based on partner demand. In this new facility, theCompany believes it can eventually escalate test-manufacturing capacity toover 15 million tests per year.
"We are very pleased to be moving to our new home," said S. Wayne Kay,Chief Executive Officer. "This new facility is expected to meet the demands ofour current partners, 3M Company and Shionogi & Co. of Japan, as well as theprojected demands of our planned cardiovascular partner."
The new facility features multiple specialized laboratories withenvironmental controls and monitoring systems required for productdevelopment, manufacturing and distribution in compliance with requirementsestablished by global organizations such as the International Organization forStandardization (ISO) and individual regulatory authorities such as the U.S.Food and Drug Administration (FDA), Health Canada and the Ministry of Health,Labor and Welfare in Japan.
The Company announced in May 2007 that it had entered into a long-termagreement with Alexandria Real Estate Equities, Inc. to lease thesingle-tenant facility. Initial capital modifications to the facility werefinanced by Alexandria and managed by Response Biomedical.
About Response Biomedical
Response Biomedical develops, manufactures and markets rapid on-sitediagnostic tests for use with its portable RAMP(R) Platform for clinical andenvironmental applications. RAMP(R) represents a new paradigm in diagnosticsthat provides high sensitivity and reliable information in minutes. It isideally suited to both point-of-care testing and laboratory use. The RAMP(R)system consists of a portable fluorescent reader and single-use disposabletest cartridges, and has the potential to be adapted to more than 250 medicaland non-medical tests currently performed in laboratories. RAMP(R) clinicaltests are commercially available for the early detection of heart attack andcongestive heart failure.
In late 2006, the Company formed a strategic alliance with 3M Company tocommercialize rapid infectious disease tests. In the non-clinical market,RAMP(R) Tests are currently provided for the environmental detection of WestNile Virus, and Biodefense applications including the rapid on-site detectionof anthrax, smallpox, ricin and botulinum toxin. Several other productapplications are under development. The Company has achieved CE Marking andits Quality Management System is registered to ISO 13485: 2003 and ISO 9001:2000.
Response Biomedical is a publicly traded company, listed on the TSX underthe trading symbol "RBM" and quoted on the OTC Bulletin Board under the symbol"RPBIF". For further information, please visit the Company's website atwww.responsebio.com.
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