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Gold/Mining/Energy : Response Biomedical (V.RBM)
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To: Starowl who wrote (409)11/6/2001 3:39:32 PM
From: Starowl  Read Replies (1) of 655
 
Press release for 6 November:

VANCOUVER, BRITISH COLUMBIA--Response Biomedical Corp. (RBM: CDNX), developer of the RAMP(TM) diagnostic system, announces that one hundred percent of the voting creditors of the Company voted to accept the proposal filed with the British Columbia Supreme Court under the Bankruptcy and Insolvency Act. The Company will now seek court approval and move to fulfill the terms of the proposal to the satisfaction of the trustee.

Further to the October 9, 2001 meeting with the U.S. Food and Drug Administration (``FDA'') in Washington D.C., the Company has submitted its written response to the FDA's request for additional information. The FDA has indicated that Response Biomedical's 510(k) application for premarket clearance of the RAMP Myoglobin Assay and RAMP Reader will now be removed from its ``on-hold'' status.

``Getting our FDA submission back on track and the approval of the creditor proposal are two substantial steps towards rebuilding value for all of our stakeholders,'' said Bill Radvak, President & CEO of Response Biomedical. ``I wish to thank the creditors for their support through this process, thereby providing the opportunity for our Company to move forward and realize the potential of RAMP.''
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