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Product and Regulatory Update on MedMira’s COVID-19 Product Family

Halifax, Nova Scotia, 03 March, 2021 – MedMira Inc. (MedMira) (TSXV: MIR) announces the expansion of its product portfolio and outlines the company’s COVID-19 market and regulatory plan.

MedMira has utilized its patented Rapid Vertical Flow (RVF) technology and developed the company’s first rapid antigen test,VYRA CoV-2 Antigen Test (VYRA CoV-2), designed to detect SARS-CoV-2 virus in the swab samples. VYRA CoV-2 product expands the existing COVID-19 product family and directly addresses the wishes of our customers for an equally fast, reliable, and easy-to-usetesting solution. VYRA CoV-2 saliva-based swab test is designed to be non-invasive and user-friendly, making this test more suitable for the home settings. “The successful development of this test opens up a new product line that has been a pioneering step for MedMira,” said Hermes Chan, CEO of MedMira. “With this we offer customers our COVID-19 product bundle that can accommodate various testing needs. For example, the VYRA CoV-2 can used to determine if the person is infected; REVEALCOVID-19® PLUS [PLUS] tells if anti-SARS-CoV-2 antibodies are present; and our REVEALCOVID-19® Nab-Y [Nab-Y] neutralizing test can potentially identify if the individual is immune to the virus.”

With the FDA’s current focus on the development of the POC and home tests, MedMira received the pre-EUA submission number for its PLUS product to also include the POC claim. Once authorized by the FDA for distribution in the US, MedMira expects to maximizethe sale potential in the current market environment. In preparation for the home test application, MedMira is now working on collecting additional performance data required by the Agency.

MedMira will send the pre-EUA requests to seek the FDA authorization for REVEALCOVID-19® Nab-Y and VYRA CoV-2 products, including the information required to support the POC claim. MedMira is working on the collaboration with the National Microbiology Lab to fulfill the additional requirements of the second Interim Order. In the meantime, MedMira’s REVEALCOVID-19® Total AntibodyTest is sold in the European Union and is highly valued by our European customers.

About MedMira
MedMira is a leading developer and manufacturer of Rapid Vertical Flow Technology diagnostics. The Company’s tests provide hospitals, labs, clinics and individuals with instant disease diagnosis, such as HIV, syphilis, hepatitis and SARS-CoV-2, in just three easy steps. The Company’s tests are sold globally under the Reveal®, REVEALCOVID-19®, Multiplo® and Miriad® brands. Based on its patented Rapid Vertical Flow Technology, MedMira’s rapid HIV test is the only 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. Follow us on LinkedIn, X and Youtube.

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 regulatory approval, product launch, 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.

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MedMira Inc.

Markus Meile

Chief Financial Officer

ir@medmira.com

Phone 902-450-1588

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Committed to quality
Certified & Proven Quality

Our quality management system is ISO 13485:2016 certified, compliant with the United States Food and Drug Administration’s current Good Manufacturing Practices (cGMP: Quality System Regulation Part 820 of CFR Title 21, Volume 8), European Union’s Directive 98/79/EC on in vitro diagnostic medical devices, and Health Canada Medical Device Regulations (SOR/98-282).

Additionally, we adhere to ISO 14971 (Application of Risk Management to Medical Devices) and ISO 2859 (Sampling Procedures for Inspection by Attributes). Certification and compliance to these requirements attests to our ability to maintain the highest standard of quality in medical device manufacturing, product development and corporate conduct.

Our products have been approved by regulators and UN agencies worldwide.

FDA

Health Canada

International Trade Centre (ITC)

Pan American Healtch Organization (PAHO)

UN Development Programme (UNDP)

UN Office for Project Services (UNOPS)

UN Office at Vienna (UNOV)

UN Population Fund (UNFPA)

United States Agency for International Development (USAID)

CFO & Head of Commercialization

Markus Meile

Markus joined MedMira in 2010, and moved into the role of Chief Financial Officer in 2014.

He previously served on the Company’s Board of Directors, as a member of the Audit Committee, and as the Senior Director of International Markets.

Prior to joining MedMira, Markus worked with a number of financial institutions in Switzerland, England, and Hong Kong. He 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, Markus worked in the medical device industry in Africa, Asia Pacific, and Europe.

He 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.

Director of the Audit Committee, Nomination and Compensation Committee

Jianhe Mao

Jianhe Mao is the owner of Unipec, a consulting firm based in St. Gallen, Switzerland. Unipec focuses on helping European companies enter the Chinese market, through operational restructuring and ownership and management optimization.

In addition to leading Unipec, Mr. Mao is involved in several industrial projects and start-up ventures including Monsatec AG, a new company bridging the gap between laboratories and clinics with a cold plasma medical device. He serves on the boards of several European companies and is regarded as a trusted expert in legal cases, corporate corruption, operational turnarounds, and mergers and acquisitions.

Mr. Mao began his career as a project engineer and has gained experience in business development and real estate investment. He holds M.E. from Ruhr University Bochum.

CEO, Co-Founder & Co-Inventor

Hermes Chan, D.Sc. (h.c.)

Hermes Chan, our Chief Executive Officer and Co-Founder, leads our passionate and committed team in driving the strategic direction and growth of MedMira.

Hermes, who was named BioScience Innovator of the Year by The Economist in 2007, is the inventor of our patented rapid flow-through diagnostic technology platform.

Since the company’s inception in 1994 Hermes has held progressively senior management roles including Research Scientist, General Manager, Senior Vice President, and Chief Operating Officer.

Prior to creating MedMira, Hermes worked with another Canadian biotechnology company in the diagnostics research sector.

Chair member of the Audit Committee, Nomination and Compensation Committee

Steven Cummings

Mr. Steven Cummings is the Founder & President of Cambridge Financial Services, one of the leading full service accounting, tax, and business advisory firms in Nova Scotia.

Under Mr. Cummings leadership, Cambridge Financial has earned an enviable reputation among businesses and industry for a commitment to high standards. Along with his leadership responsibilities at Cambridge Financial Services, Mr. Cummings was engaged as MedMira’s interim Chief Financial Officer in 2007.

With more than 30 years of financial and entrepreneurial experience, Mr. Cummings is a frequent guest speaker on issues surrounding provincial taxation, taxation of seniors, and business ownership

Intellectual property

China

ZL02819646.5

Rapid Diagnostic Device and Assay

Intellectual property

European union

EP1417489

Rapid Diagnostic Device and Assay

EP1328811

HCV Mosaic Antigen Composition (2021)

Intellectual property

USA

9,164,087

Rapid Diagnostic Device, assay and multifunctional Buffer

9,086,410

Downward or vertical flow diagnostic device and assay

8,025,850

Rapid Diagnostic Device, Assay and Multifunctional Buffer

8,287,817

Rapid Diagnostic Device, Assay and Multifunctional Buffer

8,586,375

Rapid Diagnostic Device, Assay and Multifunctional Buffer

7,531,362

Rapid Diagnostic Device, Assay and Multifunctional Buffer

D706945

Diagnostic Device

D706466

Diagnostic Device

11,353,450

Analyte Detection Using Raman Spectroscopy

Intellectual property

Canada

CA2,493,616

Rapid Diagnostic Device, Assay and Multifunctional Buffer

CA2,740,902

Downward or Vertical Flow Diagnostic Device and Assay

CA2,949,634

Analyte Detection Using Raman Spectroscopy

MiROQ Vision

Handheld Device

A future concept built on the same MIROQ technology, designed to deliver lab-grade precision in the palm of your hand.

We envision a future where testing can happen anywhere, anytime – from hospitals and clinics to remote regions or even at home – enabling early disease detection and turning knowledge into real impact. No large equipment or complex infrastructure required.

For: Doctor’s offices, small and mobile clinics

Future application: Home use

Connectivity: Bluetooth, Wifi and USB