Represents Over $10 Million
in Cumulative New Business
TORONTO,
March 17, 2014 /CNW/ - Microbix
Biosystems Inc. (TSX: MBX), an innovator of biological products and
technologies, today announced that it has reached an agreement with
an existing, long-term customer to supply significantly increased
antigen volumes.
Customers use Microbix' infectious disease
antigens in their diagnostic test kits, which they sell to
laboratories and hospitals globally. This customer has
secured incremental business for their infectious disease tests
and, as a result, requires more antigen supply from Microbix. This
agreement represents an annual sales increase of more than
$2 million. Shipments are
expected to commence in the next fiscal quarter.
Phil Casselli,
Senior Vice President Business Development at Microbix, explained,
"Our customer is one of the top performing companies in the global
infectious disease diagnostics market and our long-term partnership
has been rewarding on all levels for both companies. We are
honoured to be a key supplier to this customer and believe that
their growth underscores the gold-standard positioning of our
virology products."
Vaughn
Embro-Pantalony, Microbix' President and Chief Executive
Officer, added, "We are very pleased that our customer is
demonstrating such strong confidence in our capabilities. This is
an exciting growth opportunity for our virology products business,
and reinforces our leadership position as the provider of the
world's largest range of infectious disease antigens."
About Microbix Biosystems
Microbix Biosystems Inc. specializes in the
development of biological solutions, including products for vaccine
and diagnostics markets worldwide. Established in 1988,
Microbix is headquartered in Toronto.
Microbix' pipeline of innovative and proprietary
technologies and products includes LumiSortTM semen
sexing technology for the livestock industry, VIRUSMAX®, a
technology for increasing virus yields in influenza vaccine
manufacture, and Kinlytic®, a thrombolytic drug with several
approved and potential applications including the treatment of
life-threatening blood clots.
Forward-Looking Statements
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.
