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Vacci-Test Corporation ("Vacci-Test") is pleased to announce that it has completed the purchase of Maxivet Ltd. of Ste Hyacinthe, Quebec. The purchase sees Maxivet becoming a wholly owned subsidiary of Vacci-Test and will be critical to Vacci-Test's plan to bring a number of innovative food safety tests to market during the next year. Maxivet is based in Ste Hyacinthe, Quebec, which is a regional Centre of Excellence for food safety and veterinary research in Eastern Canada.
Maxivet, through its expertise in microbiology, specializes in the development of veterinary vaccines and pre-mortem diagnostic products. Maxivet has been a strategic partner of Vacci-Test for three years and has played a crucial role in the testing and validation of Vacci-Test's new revolutionary food safety test, FoodChekTM-E.COLI, the world's first under 6 hour test for the rapid and accurate detection of E.coli O158:H7. With Maxivet's assistance FoodChekTM-E.COLI has already successfully completed field trials in three meat processing plants in North America. The development of FoodChekTM-SALMONELLA is already underway and will be quickly followed by another equally innovative test for the rapid detection of Listeria.
Mr. Sandy MacPherson, Chairman of the Executive Operating Committee of Vacci-Test said "The acquisition of Maxivet is the foundation of a strong platform for our Research and Development program and demonstrates our commitment to food safety and the need for a simple, accurate and cost effective same-shift test for the meat, produce and dairy industry. Maxivet will provide unique microbiological expertise, access to a certified P2 microbiological facility for our ongoing validation program and testing for release and fulfillment."
About Vacci-Test Corporation
Vacci-Test is a privately held Canadian corporation based in Calgary, Alberta that specializes in the development and commercialization of proprietary food safety tests, based on magnetic nanotechnology, for the rapid detection and quantitative measurement of pathogens in food.
This information release may contain certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its private filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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