Novartis Fails to Invalidate Patent Claims
TORONTO, Jan. 23, 2014 /CNW/ - Microbix Biosystems Inc. (TSX: MBX), an innovator of biological products and technologies, announces that it has successfully defended all of its VIRUSMAX patent claims against a challenge by Novartis at a hearing today at the European Patent Office (EPO) in Munich, Germany.
Novartis Vaccines and Diagnostics, headquartered in Basel, Switzerland, challenged Microbix' invention of its manufacturing process trademarked VIRUSMAX, on several grounds. The EPO Tribunal agreed with Microbix' position and ruled that all claims are novel and inventive. Microbix therefore retains all of its patent claims as originally granted.
Vaughn Embro-Pantalony, President and Chief Executive Officer said, "We were surprised when Novartis filed their challenge in 2011, however we remained confident in our position and we expected this outcome. The EPO's decision reinforces that VIRUSMAX is a novel and inventive technology that provides significant manufacturing efficiencies to the influenza vaccine industry, thereby increasing global vaccine supply. Defending intellectual property rights is a strategic imperative for Microbix and we are pleased with this outcome."
Microbix has previously announced that it has filed a patent infringement proceeding against Novartis in the United States and this action is proceeding.
About Microbix Biosystems
Microbix Biosystems Inc. specializes in the development of biological solutions, including products for vaccine and diagnostics markets worldwide. The company owns intellectual property for an approved biological drug, a vaccine technology and an animal reproduction technology. Established in 1988, Microbix is headquartered in Toronto.
Microbix' pipeline of innovative technologies and products includes LumiSort® semen sexing technology for the livestock industry, Kinlytic®, a thrombolytic drug with several approved and potential applications including the treatment of life-threatening blood clots, and VIRUSMAX®, a proprietary technology for increasing virus yields in influenza vaccine manufacture.
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 information.
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).