Microbix Announces End of Legal Dispute – Allegations by ZeptoMetrix Withdrawn
TORONTO, October 11, 2017 – Microbix Biosystems Inc. (TSX: MBX), an innovator of biological products and technologies, is pleased to announce the withdrawal of legal claims alleging patent infringement that were filed in Canadian Federal Court against Microbix by ZeptoMetrix Corporation in October, 2016.
The allegations by ZeptoMetrix have been withdrawn, following a settlement reached by the two companies. The withdrawal of the lawsuit is “with prejudice,” meaning that these allegations cannot be reasserted in Federal Court by ZeptoMetrix in the future.
“This was an unfortunate matter that we are glad to put behind us,” stated Cameron Groome, CEO and President of Microbix. “We respect other parties’ intellectual property and are pleased to end this dispute. Customers can now freely decide between the value propositions of each company’s products.”
The lawsuit involved a patent with claims related to methods for the production of proficiency and quality assurance antigen controls that support diagnostic tests based on the nucleic acid makeup of pathogens. Such tests are commonly referred to as “molecular” or “DNA” diagnostics. Molecular diagnostics are the fastest growing segment of the testing industry, and supplying controls for molecular diagnostics controls is an important emerging market opportunity for Microbix.
Microbix has committed to the development of a molecular controls product line under the brand name REDx Controls™. Further information about REDx Controls™ is available from Microbix via e-mail to email@example.com or by telephone at 905-361-8910
Microbix Biosystems Inc. specializes in the development of proprietary biological and technology solutions for human health and well-being. The Company manufactures a wide range of critical biological materials for the global diagnostics industry. The Company also applies its biological expertise and technology platforms to create other innovative products and technologies. Currently it is commercializing two such proprietary products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots, and (2) LumiSort™, a technology platform for ultra-rapid and efficient sorting of somatic cells that can be used to enrich cell populations of interest, such as in sexing semen. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.
This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the risks associated with intellectual property and related litigation, financial results and stability, Microbix’ biologicals business and its new product lines, development projects such as those referenced herein, operations in foreign jurisdictions, engineering and construction generally, production (including control over costs, quality, quantity and timeliness of delivery of products), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. 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 that 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 and represent the Company’s judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.
For further information, please visit www.microbix.com or contact:
Cameron L. Groome, CEO & President
(905) 361-8910 firstname.lastname@example.org
Jim Currie, CFO
(905) 361-8910 x 255 email@example.com
Stephen Kilmer, Investor Relations
(647) 872-4849 firstname.lastname@example.org