Flow Cell Could Take Cytometric Semen Sexing To a New Level of Speed and
TORONTO, May 4 /CNW/ - Microbix Biosystems Inc. (TSX:MBX), a
biotechnology company commercializing novel technologies for livestock
semen sexing and other innovative biologics, announced today that it
has achieved a major development step for LumiSort™, its semen sexing
Microbix reports that LumiSort has now achieved early "proof-of-concept"
for the key component of this cutting-edge technology. Further, the
developmental analysis completed by Lathrop Engineering Inc., a leading
Silicon Valley technology development company, has demonstrated that
Microbix' technology may enable the analysis and separation of sperm
cells up to 10 times faster, and with higher precision compared to
current market technology . The technology is useful for all kinds of
cells, including asymmetric, non-spherical cells like sperm that are
difficult to analyze on conventional cytometers.
Supporting these results, Microbix has again broadened its aggressive
intellectual property strategy to cover LumiSort's applications. The
company is also reaffirming its product pipeline guidance and expects
to launch LumiSort in the second half of 2012.
William J. Gastle, Microbix' Chief Executive Officer said, "With today's
proof-of-concept achievement and its demonstration of potential
breakthrough cytometric attributes, LumiSort's upside could transform
Microbix into a major technology development company with significant
Robert Lathrop, founder and CEO of Lathrop Engineering, said, "We are
pleased to join with Microbix in the development and engineering of
their novel technology for sperm cell sorting and the general cytometry
market. In our work to realize the concepts described in the
intellectual property underlying the LumiSort device, we have been
impressed by the simplicity and power of the approach. LumiSort
addresses the historically difficult problem of sperm cell sorting in a
new and innovative way, and we expect this discovery to result in
significant gains in throughput and efficiency."
Microbix has established agreements for LumiSort with companies located
in the United States, Canada, Australia, Europe, South America, and
China representing more than 35% of the dairy semen collection centers
and will enter a global animal reproduction market for artificial
insemination valued at more than $ 3 billion. All agreements include
the same royalty payment to Microbix of 15% of selling price. Now,
within 18 months of launch, the Company is accelerating its program to
sign license agreements with additional distributors.
In 2010, Microbix announced two partnerships including one with an
engineering firm focused on the development of the technology and the
other with one of the largest suppliers of livestock reproduction
products in the world. The second firm has invested in the program
through a milestone based, $2 million investment, and will rapidly
deploy LumiSort into their markets.
About Microbix' LumiSort™
LumiSort is a completely new concept in instrument based selection
technology that will improve the yield and quality of sexed semen by a
significant margin over methods used in the livestock industry today.
It incorporates a novel and innovative instrument design to address
fundamental problems with existing commercial sex selection
technologies, while providing Microbix with a strong and well
differentiated intellectual property advantage in the industry.
Microbix expects to introduce LumiSort to the dairy and beef livestock
management markets before the end of 2012. The technology will not only
provide a much higher quality product leading to higher conception
rates, but is also expected to improve significantly the sexed semen
About Microbix Biosystems Inc.
Microbix Biosystems Inc. 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 Toronto.
About Lathrop Engineering. Inc.
Lathrop has provided novel and comprehensive product development
services for nearly 30 years. Lathrop's mastery of analytical and
design tools mesh with a breadth of engineering skill sets and
disciplined ISO processes to deliver the best product at the right
cost, on time and on budget. Their innovative and highly trained
professionals handle projects from IP concept through transfer to
manufacturing. Lathrop's communications, capabilities, and program
management skills combine to provide unparalleled support for their
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 commercializing
technologies, including sales which may not reach sales targets or be
made at all, there is no guarantee that the Company will complete
development of any technology and if it does that it will perform to
commercially exploitable levels, other technologies may emerge before
any technology developed by the Company enters the market, royalty
rates may not be achievable, markets may not sustain demand for any
product should world economies shift significantly, market utilization
rates may not be reached, market value of products may vary, product
launch dates and market utilization timetables may not be met; risks
associated with the ability to license LumiSort to industry; risks
associated with failure to develop and commercialize LumiSort;
non-adoption of LumiSort; competition in the animal reproduction and
related markets; reliance by Microbix on third parties for the
development and manufacture of LumiSort instrument; general economic
conditions; intellectual property risks including challenges to
protecting the Company's intellectual property rights, patents may not
provide adequate protection of the Company's intellectual property, may
not be successfully prosecuted and may be subject to challenge and
risks of infringement of third party rights; risks of operating in
foreign jurisdictions, including operating in countries with evolving
legal and economic infrastructure; high rates of inflation; changes in
taxation policies, and Microbix' ability to attract and retain
qualified employees and management. These forward-looking statements
represent the Company's judgment as of the date of this press release.
The Company disclaims any intent or obligation to update these
SOURCE Microbix Biosystems Inc.
For further information:
Visit www.microbix.com or contact: William J. Gastle, CEO, (416) 234-1624 x 230; or James Long, CFO, (416) 234-1624 x 265.