Microbix continues development of LumiSort technology and intellectual property portfolio
TORONTO, Aug. 29, 2012 /CNW/ - Microbix Biosystems Inc. (TSX:MBX), a biotechnology company developing a pipeline of innovative biological technologies and products including LumiSort® livestock semen sexing technology, has been notified by the United States Patent Office of the publication today of its latest patent application. This patent application relates to the continuing development of LumiSort and Microbix' intellectual property portfolio. The application will now undergo examination in the patent offices of the United States and key countries globally where LumiSort will be marketed.
Microbix' Chief Executive Officer, William J. Gastle, commented, "Microbix continues to focus on the development of the LumiSort patent family, to deliver an intellectual property platform that supports shareholder value. We are committed to selectively protecting the novel breakthroughs that we have achieved in our development program and to realizing their commercial potential. This newly-published application is intended to protect significant technical innovations arising from research and engineering studies to optimize the performance of the instrument."
Microbix is developing LumiSort, a next-generation instrument-based (cytometric) technology, for the preparation of sex-selected sperm cell preparations. LumiSort 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 also increasing the fertility of the sexed sperm cell product. Further information on LumiSort technology is available at http://lumisort.com. Further information on the LumiSort patent estate is available on http://microbix.com//LumiSort-Patent-Estate/
The ability to separate male- and female-determining (X and Y chromosome bearing cells) sperm cells for use in artificial breeding is a significant commercial benefit to livestock producers: enhancing herd expansion and genetic improvement, while also permitting the selection of appropriate-sex production animals for production. Target markets include the food animals, equine and other selected species, where the selective reproduction of animals enhances production efficiency. Microbix' LumiSort will bring the benefits of sexed semen with improved throughput and fertility, increasing the affordability and use of sexed semen globally.
About Microbix Biosystems Inc.
Microbix Biosystems Inc. specializes in the development of biological technologies and markets virology and biological products worldwide. The Company has intellectual property in large market products including the biotherapeutic drug KINLYTIC® (urokinase), a proprietary vaccine technology (VIRUSMAX®) and an animal reproduction technology (LumiSort®). Microbix supplies customers in the U.S. Europe, and Asia. Established in 1988, Microbix is headquartered in Mississauga, Ontario, Canada.
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: William J. Gastle, CEO, (416) 234-1624 x 230; or James Long, CFO, (416) 234-1624 x 265.