Response Biomedical Corporation Reports 2007 Financi...( VANCOUVER March 31 / Response Bio...),Health

VANCOUVER, March 31 /PRNewswire-FirstCall/ - Response Biomedical Corporation (TSX: RBM, OTCBB: RPBIF) reported that it recorded total revenues of $4,084,116 and a net loss of $13,901,041 or ($0.12) per share for the year ended December 31, 2007. Additionally, the Company announced that as of December 31, 2007 it had approximately $8.2 million in working capital. For a further discussion of the Company's financial results for the year ended December 31, 2007, please refer to the Company's audited consolidated financial statements and related Management Discussion and Analysis, which can be found at http://www.responsebio.com, SEDAR (Canada) http://www.sedar.com or EDGAR (US) http://www.sec.gov/edgar/searchedgar/webusers.htm. Information at these sites is typically available within 24 hours of the distribution of the news release.

Corporate Update

"I'm very happy to have joined Response Biomedical in September 2007," said S. Wayne Kay, CEO. "It has been an extremely interesting and invigorating few months as we focused on finalizing two important submissions to the U.S. Food and Drug Administration for clearance of both our RAMP(R) NT-proBNP Test for diagnosis of congestive heart failure and our Rapid Influenza A+B Test (Flu A+B). We have also concentrated our energy on pursuing a worldwide marketing partner for our cardiovascular line of RAMP(R) rapid tests," continued Mr. Kay. "In conjunction with 3M Company, our work is ongoing to lay the groundwork for the launch of the Flu A+B Test. 3M anticipates launching prior to the 2008-09 flu season in certain markets around the world. We have also initiated feasibility work on identifying the next infectious disease tests for 3M to market."

"We see 2008 as very promising. We see a growing emphasis on preventive medic
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