TORONTO, Dec. 14 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) has signed
two Letters Of Intent with companies outside North America which are
interested in licensing the VIRUSMAX(TM) technology on a non-exclusive basis.
The technical evaluation of the VIRUSMAX(TM) technology was successfully
completed. Two of the current season's influenza strains were tested and both
showed at least a two-fold increase in yield. The first definitive agreement
is now being negotiated and Microbix anticipates agreements will be
established early in 2008.
Microbix also announced today that the technology has been granted a
patent in Australia. This follows patents being awarded in the U.S., Canada
and India. Patents are pending in a number of other countries.
VIRUSMAX(TM) has significant implications for the influenza vaccine
marketplace. Currently, there are only three countries that produce enough
vaccine to immunize their own populations - Canada, France and Australia.
Every other country lacks the manufacturing capacity to meet domestic needs,
with the largest deficits in the U.S., China and India.
Annual global flu production is currently 350 million doses. If
VIRUSMAX(TM) is adopted on a global basis, the number of doses available would
increase to at least 700 million.
For Microbix, the next step in generating annual revenues from
VIRUSMAX(TM) is to license the technology to vaccine producers on a
non-exclusive basis. "These Letters of Intent are a major step towards
achieving that goal, and our management team remains focused on signing
agreements in 2008," said Microbix CEO William J. Gastle. He added that
further details will follow.
Microbix' discovery has been reported in Vaccine, an international,
peer-reviewed scientific journal. In addition, the yield enhancement has been
evaluated and confirmed in an independent study.
Microbix specializes in developing proprietary biological technologies,
including biotherapeutic drugs, vaccine technologies and animal reproduction
technologies. It has been researching and developing the flu vaccine yield
enhancement technology for a number of years, with a team at the company's
Toronto laboratories spearheading these efforts.
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 such as the
risks associated with licensing the technology to vaccine manufacturers. 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 forward-looking statements.
For further information:
For 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