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MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a global market leader in premium rapid diagnostic solutions, announced today that it has entered in to an agreement with YA Global Investments LP, a US-based private equity fund, for the issuance of a USD $1,000,000 convertible debenture. Under the terms of the agreement, the debenture will bear interest of 10% per annum and be subject to a one-time fee of 5.5% of the debenture amount. The debenture is convertible in whole or in part into common shares of MedMira at $.259 per share at any time during the term of the debenture and matures November 20, 2008. The debenture is repayable either by way of cash or shares issuable under a subscription agreement entered into by both parties on September 6, 2005 and subject to a prospectus filed by the company on March 17, 2008. Both of these documents can be viewed on our website at www.medmira.com and on SEDAR at www.sedar.com.

This investment, accompanied by a $5 million private placement for which MedMira engaged Loewen Ondaatje McCutcheon Limited in March 2008, will enable the Company to step up various sales and marketing activities in key international markets including new regulatory approvals in the US, a strategic sales program for the Multiplo product line, and global strategic partnerships generating licensing opportunities for the Company's patented rapid flow-through platform.

"Accelerating our sales and marketing drive in priority markets is key to MedMira's future growth. With this initial financing in place we can move forward to capitalize on the opportunities at hand," said Hermes Chan, president and CEO of MedMira. "Access to these funds also allows us to continue on a path towards long-term growth, development of sustainable revenue streams, and increased value for our shareholders. MedMira is uniquely positioned to capitalize on key opportunities in the US and international markets and we are pleased to have this initial support from YA Global Investments."