Customer Validation of New Manufacturing Process Completed
TORONTO: September 13, 2017 – Microbix Biosystems Inc. (TSX: MBX), a developer and marketer of biological products and technologies, announces its first full-scale shipment of antigen produced using its new bioreactor manufacturing process, following customer validation.
Microbix’ revenues are derived principally from the sales of its antigens for use in diagnostic tests. Historically, those antigens have been produced in thousands of “roller bottles,” a longstanding method of production that requires considerable material and labour inputs. Over the past few years, Microbix has been working to transfer such production to a new method based on “bioreactors.” Bioreactors offer the prospect for better process control, greater production capacity in the same facility space and reduced per-unit costs.
Shifting production from roller bottle to bioreactor technology is an involved process, requiring new equipment, expertise, process development and controls. Moving to bioreactor processes also involves validation of the resulting product by customers. The completion of internal processes and external validation has resulted in this first full-scale shipment of antigen made by bioreactor.
Microbix’ bioreactor process has been developed in-house, supported in part by a loan from the Business Development Bank of Canada (BDC) and a grant from the Industrial Research Assistance Program (IRAP) of the National Research Council of Canada (NRC). Microbix is grateful for this support and very pleased to announce a positive outcome of this project.
Phil Casselli, SVP of Sales and Business Development, commented, “Adoption of bioreactors will enable Microbix to better meet our customers’ needs for increasing quantities of high quality antigens on a cost-effective basis. We are excited about our bioreactor capability becoming fully-commercial and intend to quickly add to our bioreactor capacity.”
Cameron Groome, CEO and President, provided his perspective, “Microbix’ move to bioreactor production required considerable time, work and capital, but was needed: Our adoption of state-of-the-art technology positions Microbix to accelerate sales growth and further build on its reputation as a supplier of biologicals critical to the diagnostics industry and important to public health.”
Microbix Biosystems Inc. specializes in the development of proprietary biological and technology solutions for human health and wellbeing. 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 its bioreactor production, financial results and stability, biologicals business, 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 contact:
Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 or firstname.lastname@example.org