Microbix And Therapure Biopharma Form Partnership To Expand Water-Based Supplies To The Pharma Industry
In the agreement between the two Toronto-area companies, Microbix will maintain sales and marketing functions while Therapure will manage manufacturing, distribution and product development
The partnership will significantly expand the portfolio of products Microbix will offer its customers and increase capacity by leveraging Therapure's state-of-the-art, commercial scale manufacturing facility. Under terms of the agreement, Microbix will maintain the sales and marketing functions for the water-based program, while Therapure will manage manufacturing and product development operations. The products will remain under the Microbix brand. Further financial details of the transaction were not made public.
Microbix, whose water-based product sales have nearly doubled each year since 2006, will benefit from the agreement due to Therapure's large manufacturing capacity, its R&D expertise as well as its testing, filling, packaging and shipping services. Therapure will gain by tapping into Microbix' established market position as a leading water-based products supplier to the North American pharmaceutical industry.
Microbix CEO William J. Gastle said "Therapure's capabilities will enable Microbix to expand our product line and market share of the growing water-based business in
"Water-based products are an important part of Microbix' core business, which has been growing by more than 20% annually for the past six years,"
The immediate result of the Microbix-Therapure agreement will be the launch of Microbix 22(TM), a new 22% alcohol and water-for-injection (WFI) pre-mixed used for chromatography column storage. Mixing concentrated alcohol with water can be dangerous and many customers would rather purchase the product premixed and avoid the risks. Additionally, the partnership will be able to manufacture custom buffers and media to recipes provided by customers.
Microbix specializes in the development of biological technologies and commercializing them through global partners. The Company has intellectual property in large market biotherapeutic drugs, vaccine technologies and animal reproduction technologies. Established in 1988, Microbix is headquartered in
About Therapure Biopharma
Therapure Biopharma Inc. is an integrated biopharmaceutical company that develops, manufactures, purifies and packages therapeutic proteins. As a contract development and manufacturing organization (CDMO), Therapure Biopharma applies scientific, manufacturing, and downstream purification expertise with an intimate understanding of advanced biology, complex proteins, and regulatory processes to develop effective and innovative solutions to advance products from discovery to market for its' clients. Therapure's Health
This press release contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements including the risks associated with failure to develop and commercialize new products on a timely basis, non-adoption of products by new customers, resistance to business model for commercialization and implementation; risks associated with commercializing new products; and risks associated with outsourcing production including control over costs, quality, quantity and timeliness of delivery of products. These forward-looking statements represent the Companies' judgment as of the date of this press release. The Company disclaims any intent or obligation to update these forward-looking statements.
%SEDAR: 00004220EFor further information: visit www.microbix.com or contact William J. Gastle, CEO, Microbix Biosystems Inc., (416) 234-1624 x 230; James Long, CFO, Microbix Biosystems Inc., (416) 234-1624 x 265; Therapure: visit www.therapurebio.com or contact Thomas Wellner, President and CEO, (905) 286-6204, firstname.lastname@example.org; Raj Puri, Director Business Development, (905) 286-6232