Build-out to Support Tenfold Increase Now Underway
MISSISSAUGA, CANADA, May 27, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, announces that it has begun a build-out of its second facility that is initially intended to support a tenfold increase of production capacity for its QAPs™ quality assessment products – Which support the accuracy of clinical laboratory testing including, but not limited to, support for tests for the SARS-CoV-2 virus causing COVID-19 disease.
Microbix’s current maximum QAPs production capacity is limited by the space allotted in its wholly-owned facility that is primarily dedicated to making its range of antigens for immunoassay/serological test production. That capacity will be exceeded if Microbix achieves its growth objectives for QAPs.
The capacity expansion now underway is taking place at Microbix’s adjacent administrative, production, and warehousing facility. This second site was first occupied by Microbix in May, 2019. From that time, the express intent has been to dedicate a portion of its space for greater production of swab and vial-based QAPs – initially built and equipped for scaled-up manual-based production and subsequently moving to full-scale automation for far greater productivity, all under ISO 13485 standards.
The initial manual process based scale-up will provide ten-times the space that is currently dedicated to QAPs production at Microbix’s owned facility. It will be comprised of contained areas dedicated to formulation, filling or coating, capping or sealing, labeling, and final packaging of QAPs products. Additional and fully-dedicated quality control laboratory spaces are also being created to support the greater QAPs production. The new spaces will be added to existing establishment licenses with Health Canada and the U.S. Food and Drug Administration (FDA) once completed and validated.
The expansion is being funded from part of the proceeds of Microbix’s private placement financing of January, 2020. Further assistance is being provided by the FedDev Ontario program of the Government of Canada, as announced in July, 2019. The total cost of this initial phase of Microbix’s QAPs production expansion is estimated at $0.825 million, and is expected to be completed by the end of August, 2020 with validation and commissioning undertaken as soon as possible thereafter.
Ken Hughes, COO of Microbix, commented, “It has never been more important to ensure the integrity of clinical laboratory testing programs. We are therefore pleased to offer even greater support to public health in Canada and internationally by expanding our QAPs production capabilities. We thank our dedicated team for helping drive this expansion, along with our general contractor Meadowbrook Construction of Mississauga, and our sub-contractor ProPart Modular of Burlington. We also thank our many shareholders, TD Bank, and FedDev Ontario for their steadfast support.”
Microbix supplies a broad range of white-labeled QAPs, including other viral respiratory pathogens, to support proficiency testing (PT) programs of lab accreditation organizations in North America, Europe, Scandinavia, and Australia. Under its PROCEEDx™ brand, Microbix provides RUO (research-use-only) QAPs to support the test validation/verification and operator training objectives of test developers and clinical labs. Full QMS support of clinical laboratory patient sample testing is provided by Microbix’s REDx®FLOQ or REDx™ Controls brand QAPs. Through distribution partners, D.I.D., Labquality, MSC, and R-Biopharm, the PROCEEDx™ and REDx™ brands of QAPs are being made available in 21 countries.
About Microbix Biosystems
Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales now usually exceeding $1 million per month on average. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure quality control of clinical diagnostic tests. Microbix antigens and QAPs are sold to many customers worldwide, at present primarily to multinational diagnostics companies and laboratory accreditation organizations. Microbix is ISO 9001 and 13485 accredited, FDA and Health Canada establishment licensed, and provides CE marked products.
Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots.
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, discussion of the capacity expansion, the utility or consequences of the capacity expansion, references to external collaborators and funding partners, Microbix’s business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced in its corporate presentation, regulatory compliance and approvals, sales to foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity and timeliness of delivery), 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.
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For further information, please contact Microbix at:
|Cameron Groome, CEO
|Jim Currie, CFO
|Deborah Honig, Investor Relations
Adelaide Capital Markets
(647) 203-8793 firstname.lastname@example.org