Represents Over $10 Million in Cumulative New Business
TORONTO, March 17, 2014 /CNW/ - Microbix Biosystems Inc. (TSX: MBX), an
innovator of biological products and technologies, today announced that
it has reached an agreement with an existing, long-term customer to
supply significantly increased antigen volumes.
Customers use Microbix' infectious disease antigens in their diagnostic
test kits, which they sell to laboratories and hospitals globally.
This customer has secured incremental business for their infectious
disease tests and, as a result, requires more antigen supply from
Microbix. This agreement represents an annual sales increase of more
than $2 million. Shipments are expected to commence in the next fiscal
Phil Casselli, Senior Vice President Business Development at Microbix,
explained, "Our customer is one of the top performing companies in the
global infectious disease diagnostics market and our long-term
partnership has been rewarding on all levels for both companies. We are
honoured to be a key supplier to this customer and believe that their
growth underscores the gold-standard positioning of our virology
Vaughn Embro-Pantalony, Microbix' President and Chief Executive Officer,
added, "We are very pleased that our customer is demonstrating such
strong confidence in our capabilities. This is an exciting growth
opportunity for our virology products business, and reinforces our
leadership position as the provider of the world's largest range of
infectious disease antigens."
About Microbix Biosystems
Microbix Biosystems Inc. specializes in the development of biological
solutions, including products for vaccine and diagnostics markets
worldwide. Established in 1988, Microbix is headquartered in Toronto.
Microbix' pipeline of innovative and proprietary technologies and
products includes LumiSortTM semen sexing technology for the livestock industry, VIRUSMAX®, a
technology for increasing virus yields in influenza vaccine
manufacture, and Kinlytic®, a thrombolytic drug with several approved
and potential applications including the treatment of life-threatening
This press release may contain 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 litigation, operations
in foreign jurisdictions, foreign currency and exchange rate risk, and
risks of raising capital on acceptable terms or at all. These
statements reflect management's current estimates, beliefs, intentions
and expectations; they are not guarantees of future performance. The
Company cautions that all forward-looking information is inherently
uncertain and the actual performance may be affected by a number of
material factors, many of which are beyond the Company's control.
Accordingly, actual future events, conditions and results may differ
materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. All
statements are made as of the date of this news release. The Company
is under no obligation to update or alter any forward-looking
Please visit www.sedar.com for recent Microbix Biosystems Inc. filings on its pipeline products
and financial information.
SOURCE: Microbix Biosystems Inc.
For further information:
Visit www.microbix.com or contact: Vaughn C. Embro-Pantalony, CEO, (905) 361-8910 (ext. 350) or Charles Wallace, CFO (905) 361-8910 (ext. 255).