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Response Biomedical Corporation Delivers Record Preliminary Revenues in First Quarter
Date:4/20/2009

Revenues Grow 115% Over Q1 2008

VANCOUVER, April 20 /PRNewswire-FirstCall/ - Response Biomedical Corporation (TSX: RBM, OTCBB: RPBIF) today announced preliminary unaudited revenues for the three-month period ended March 31, 2009. First quarter revenues increased 115% to approximately $2.526 million compared to $1.173 million for the same period in 2008. This represents the highest revenues for any quarter in the Company's history and, as expected, includes a significant contribution by the Roche Diagnostics launch of our RAMP(R) Cardiac products in the U.S. Increased revenues and reduced expenses are expected to result in a significantly lower loss for the three-month period ended March 31, 2009 as compared to the same period in 2008. Complete first quarter 2009 unaudited interim financial results are expected to be released on May 15, 2009.

"Our exceptional performance this quarter shows that our strategy is working," said S. Wayne Kay, CEO, Response Biomedical. "Our blue-chip partners are placing orders to support the launch of our infectious diseases and cardiovascular products into the U.S. and we are developing new alliances, such as the one announced last month with FIND, for additional uses of our technology platform. We are pleased that our revenues in the first quarter of 2009 are in line with our expectations and we anticipate continued strong year-over-year revenue growth as we move towards profitability. We believe that these results will be of great assistance in our efforts to address our current financing needs. Our success is due to the tireless and outstanding work of our employees and the steadfast commitment of our partners."

About Response Biomedical

Response Biomedical develops, manufactures and markets rapid on-site diagnostic tests for use with its RAMP(R) Platform for clinical and environmental applications. RAMP(R) represents a new paradigm in diagnostics that provides high se
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SOURCE Response Biomedical Corp.
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