MedMira gets $4.2M from U.S. Army for HIV, hepatitis Dx

The U.S. Army has tapped Canada's MedMira ($MIR) to develop a single, rapid diagnostic that can detect HIV and hepatitis B and C, signing a deal worth $4.2 million.

MedMira will use its existing Multiplo diagnostic as a platform, and the two-year deal will cover the development of a blood test that can simultaneously diagnose the three diseases, allowing the Army to deploy the tech in the field. The Army is covering all development costs, including those related to getting FDA approval, and MedMira will have the right to sell its test to anyone it pleases after commercialization.

The deal affirms MedMira's reputation in the diagnostics world, its CEO said in a statement, and the resulting Multiplo Rapid HBV/HIV/HCV Antibody Test will serve a huge unmet need in the armed forces."We have built a lasting relationship with the U.S. Army, delivering advanced diagnostic solutions that reduce the need for militaries to undertake ground-up development work," Hermes Chan said.

In 2011, MedMira struck a similar deal with the Army to develop and commercialize a three-minute test for hepatitis B, and the company will combine that tech with its on-the-market HIV test to serve the Army's need.

- read the company's release