VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/19/12 -- Response Biomedical Corporation (TSX: RBM)(OTCBB: RPBIF) announces that at the annual meeting of shareholders held on June 19, 2012, all matters proposed were approved by the shareholders of Response Biomedical.
-- The size of the Board of Directors was set at 6 directors. -- Anthony F. Holler, M.D., Joseph D. Keegan, Ph.D., Clinton H. Severson, Lewis J. Shuster, Peter A. Thompson, MD; and David Wang, MD were reelected as directors. -- Amendments to the 2008 stock option plan were approved, including increasing the total number of shares under the plan from 1,700,000 million to 24,200,000. -- Approval of prior grants of stock options under the 2008 stock option plan. -- Appointment of PricewaterhouseCoopers, LLP, Chartered Accountants, as the Company's auditors for 2012 at remuneration to be fixed by the Board of Directors. -- Consolidation of the outstanding common shares of the Company, subject to the Board of Directors determining to proceed with the consolidation, such that each twenty (20) outstanding common shares will be consolidated into one (1) common share. Currently the Company has 129,104,322 common shares outstanding and approximately 6,455,216 shares outstanding after the consolidation. TSX acceptance of the consolidation is required, and the Company is working to secure such approval.
Further information on the Company 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.
About Response Biomedical
Response Biomedical develops, manufactures and markets rapid on-site diagnostic tests for use with its RAMP® platform for clinical and environmental applications. RAMP® 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® 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® clinical tests are commercially available for the early detection of heart attack and congestive heart failure through our commercial partners and distributors.
In the non-clinical market, RAMP® 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.
Response has achieved CE Marking for its readers and clinical tests and its Quality Management System is registered to ISO 13485: 2003 and ISO 9001: 2008.
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.
About the RAMP® Reader and RAMP® 200 reader
The RAMP® enabling platform is a portable scanning fluorescence quantitative analysis platform for near patient testing that enables rapid and robust quantitative results. The platform includes easy software upgrades, data management capabilities and unique interface options. The RAMP® Reader features a small footprint and attractive ease of use for moderate throughput settings. The RAMP® 200 reader has innovative design features, including the multi-port capability to run 18 tests per hour on one module and up to 36 tests per hour, using three modules. This allows tests to be run on multiple patients simultaneously or multiple assays to be run for one patient. More information on our proprietary RAMP® technology can be found at www.responsebio.com.
This press release may contain forward-looking statements. These statements relate to future events and are subject to risks, uncertainties and assumptions about Response Biomedical Corporation. Examples of forward-looking statements in this press release include statements regarding the potential adaptation of the RAMP® system to additional tests and TSX approval of the share consolidation.
These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. Many factors may cause our actual results to differ materially from any forward-looking statement, including the factors detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our annual report on Form 10-K, our Annual Information Form and other filings with the Securities and Exchange Commission and Canadian securities regulatory authorities. We do not undertake to update any forward-looking statements.