TORONTO, June 5 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) announced
today that it has received its third, new signed Letter Of Intent regarding
Microbix' proprietary influenza vaccine yield enhancement technology.
The LOI is from a significant, global manufacturer of influenza vaccine
that will evaluate VIRUSMAX(TM) that, as other independent tests have shown,
can enable manufacturers to at least double the amount of influenza vaccine
they produce. A successful evaluation could lead to a definitive agreement on
licensing the technology.
In addition to the existing three LOI's in place, Microbix is in late
stage discussions with two other organizations. "We are seeing momentum in
this area of our business, and we anticipate further opportunities in 2008 as
the world becomes increasingly concerned about the risks of a pandemic," said
William J. Gastle, CEO of Microbix.
Currently, there are only four countries that produce enough vaccine to
immunize their own populations - Canada, France, Belgium and Australia. Every
other country lacks the manufacturing capacity to meet domestic needs. By
boosting production yields, VIRUSMAX(TM) can help countries reduce dependence
on imported supplies.
Microbix has been granted patents on VIRUSMAX(TM) in China, the U.S.,
India, Canada and Australia. A number of other patent applications in major
markets are currently pending.
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 the inability for third parties to replicate the
laboratory results, limited application of laboratory results to
commercialization of the Vaccine Technology such as vaccine manufacturers
being unable to make changes to their production process or not realizing a
yield that, in their opinion, makes the process economical, among others.
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; Jim Long, CFO,
Microbix Biosystems Inc., (416) 234-1624 x 265