Microbix Signs Marketing Agreement For Kinlytic(R)(Urokinase) In Growing
Middle East Region
Riso Pharma guarantees to purchase 50,000 KINLYTIC vials over next three years
Under the terms of the agreement, Microbix will grant Riso exclusive rights to market KINLYTIC throughout the
Mark A. Cochran, Microbix' Chief Business Officer, said, "Microbix is off to a great start as we bring KINLYTIC back to the world's medical community. We expect to provide our clot-busting therapy to other parts of the world by signing additional agreements, such as this one, throughout 2010. And, while final pricing for our therapy has not been yet established, even at a discounted pricing offered to these emerging markets, Microbix will profit substantially from this agreement covering the
The market for pharmaceutical sales in the
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Urokinase, which Microbix has re-branded as KINLYTIC, has been administered to over four million patients and generated peak annual worldwide sales of more than
In 2008, Microbix completed a
About Microbix --------------
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 Riso Pharma Tech ----------------------
Riso Pharma Tech is a Canadian-based affiliate of a large Holding Company, Riso Holding. As a group, Riso has sole agency agreements with some of the largest pharmaceutical companies in the world for Middle Eastern market. Riso is also a provider of medicinal products and health care supplements serving dedicated markets world-wide, but focusing on the
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 complete agreements to license, finance, develop and commercialize KINLYTIC on a timely basis, non-adoption of KINLYTIC, resistance to business model for commercialization and implementation; and risks associated with the efficacy of the drug. Risks related to timeliness, delay or failure to obtain local market regulatory approvals or to enter into marketing and supply agreements on acceptable terms or at all; risk of under-performance or non-performance by counter parties; accuracy of estimates of market and supply adequacy; ability to achieve market acceptance, sales and revenue generation on a timely basis or at all; product pricing risks; ability to fund from revenue or otherwise timely manufacturing scale up and to achieve manufacturing capacity, successful expansion of the drug into new indications and new markets. 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.
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For further information: visit www.microbix.com or contact Dr. Mark A. Cochran, CBO, (434) 825-4994; or James Long, CFO, Microbix Biosystems Inc., (416) 234-1624 x 265
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