Response Biomedical Corp. Announces Government of Canada Funding to Support the Development of a New Sepsis Biomarker Test

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 10, 2014) - Response Biomedical Corp. ("Response" or "the Company") (TSX:RBM)(OTCBB:RPBIF) today announced that it has entered into a funding agreement with the National Research Council of Canada Industrial Research Assistance Program ("NRC-IRAP") for up to $412,000 to support the development by Response of a new sepsis biomarker test for use on Response's RAMP^® test platform. This new marker will complement Response's current cardiovascular and infectious disease test menu. Response believes that the development of this test will enable the Company to successfully expand its sales to its current RAMP^® instrument customer base and also to help penetrate new markets.

"We are extremely pleased to have received financial support and technological advisory services from NRC-IRAP," said Dr. Barbara Kinnaird, Chief Operating Officer of Response. "This support will allow us to expand our RAMP^® test menu with a new primary diagnostic tool that can be used to quickly guide appropriate therapy for patients arriving at hospital emergency departments worldwide."

About Response Biomedical Corp.

Response develops, manufactures and markets rapid onsite diagnostic tests for use with its RAMP^® platform for clinical, biodefense and environmental applications. RAMP^® represents a unique paradigm in diagnostics that provides reliable, quality results in minutes. The RAMP^® Platform consists of a reader and single use disposable test cartridges and has the potential to be adapted to any other medical and nonmedical immunoassay based test currently performed in laboratories. Response clinical tests are commercially available for the aid in early detection of heart attack, congestive heart failure, thromboembolism and infectious diseases. In the nonclinical market, RAMP^® tests are currently available for the environmental detection of West Nile Virus and for Biodefense applications including the rapid onsite detection of anthrax, smallpox, ricin and botulinum toxin. Response is a publicly traded company listed on the TSX under the trading symbol "RBM" and quoted on the OTC Bulletin Board under the symbol "RPBIF". For further information, please visit the Company's website at www.responsebio.com.

Forward-Looking Statements

This press release may contain forward-looking statements. These statements relate to future events and are subject to risks, uncertainties and assumptions about Response Biomedical Corp. Examples of forward-looking statements in this press release include statements regarding our belief that this new marker will complement our current cardiovascular and infectious disease test menu, that the development of this test will enable the successful expansion of our sales to our current RAMP^® instrument customer base and also to help penetrate new markets and that the support from NRC-IRAP will allow us to expand our RAMP^® test menu with a new primary diagnostic tool that can be used to quickly guide appropriate therapy for patients arriving at hospital emergency departments worldwide. These statements are only predictions based on our current expectations and projections about future events. Although we believe the expectations reflected in such forward-looking statements and the assumptions upon which such forward-looking statements are made are reasonable, there can be no assurance that such expectations will prove to be correct and if such expectations are not met, our business may suffer.

Readers should not place undue reliance on these statements. Actual events or results may differ materially. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Many factors may cause the Company's actual results to differ materially from any forward-looking statement, including the factors detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our annual report on Form 10-K, our quarterly reports on Form 10-Q, our Current Reports on Form 8-K, our Annual Information Form and other filings with the Securities and Exchange Commission and Canadian securities regulatory authorities.

The forward-looking statements contained in this news release are current as of the date hereof and are qualified in their entirety by this cautionary statement. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.