LumiSort® intellectual property portfolio continues to expand
TORONTO, May 1, 2013 /CNW/ - Microbix Biosystems Inc. (TSX:MBX), a biotechnology company developing innovative biological products and technologies including LumiSort®, a novel sperm sexing technology for the global livestock industry, has been notified by the United States Patent and Trademark Office that its application for a new patent on LumiSort technology has been allowed in the United States. The patent is expected to issue within the next few weeks.
Microbix' Lumisort technology is set to address the $1.5 billion artificial insemination market, with the potential to grow that market by 100%. LumiSort is a next-generation instrument-based (cytometric) technology for the preparation of sex-selected sperm cell preparations that will provide the artificial insemination industry with a 3-fold increase in sperm cell yield and a 10-fold increase in the speed of production, while increasing the fertility of the sexed sperm cell product.
The most recent patent application, U.S.S.N. 13/214,699, was filed in August 2011 as part of Microbix' continuing program to develop intellectual property for the LumiSort sperm sexing instrument and process.
Vaughn Embro-Pantalony, Chief Executive Officer commented, "LumiSort is a completely new way to approach sperm sexing, with significant advantages for the livestock industry that will overtake existing, outdated methods. We are committed to developing both our LumiSort instrument, and our intellectual property portfolio, leading to the allowance of this important second U.S. patent application with additional patent applications pending. Microbix' patents underpin shareholder value in the LumiSort investment and provide a solid basis of exclusivity going forward."
Further information, including an animated video, on LumiSort technology is available at http://lumisort.com.
About Microbix Biosystems Inc.
Microbix Biosystems Inc. specializes in the development of the most advanced vaccine production technology and markets virology and biological products worldwide. The Company has intellectual property in large market biotherapeutic drugs, vaccine technologies and animal reproduction technologies. Microbix supplies customers in the U.S., Europe, and Asia. Established in 1988, Microbix is headquartered in Toronto.
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 the 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 health 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 forward-looking statements.
SOURCE: Microbix Biosystems Inc.
For further information:
Visit www.microbix.com or contact: Vaughn C. Embro-Pantalony, CEO, (416) 234-1624 x 350; or James Long, CFO, (416) 234-1624 x 265.