Implementing MasterControl® and NetSuite® Solutions to Enable Rapid Growth
MISSISSAUGA, CANADA, March 29, 2022 – Microbix Biosystems Inc. (TSX: MBX, OTCQX: MBXBF, Microbix®), a life sciences innovator and exporter, announces investment in programs to upgrade, digitize and fully-integrate its Quality Management System (“QMS”) and its Enterprise Resource Planning (“ERP”) platforms – to better enable its business growth trajectory. These initiatives will support more rapid growth in each of Microbix’s business lines – its test ingredients business (antigens), its test Quality Assessment Products (“QAPs™”), and its Viral Transport Medium (“DxTM™”).
Microbix’s QMS and ERP systems investments will total C$ 600,000 in fiscal 2022 – a sum fully in-line with the use-of-proceeds described in the prospectus supporting its public offering and private placement of May, 2021, from which it raised over C$ 6.0 million to be used primarily for expansion-related initiatives. Since then, Microbix has commissioned multiple new production and release-testing laboratories, secured a 3rd building for high-volume automated DxTM production, and increased its staff complement of highly-trained professionals. Now Microbix is also upgrading its mission-critical QMS and ERP systems.
MasterControl® is Microbix’s chosen electronic-QMS (“eQMS”) provider. MasterControl has been a market leader for over 25 years, is active in over 50 countries, and has a distinct Medtech focus – with over 750 client companies in that field. Its eQMS fully-digitizes manufacturing batch-production-records and testing documentation to increase throughput and reduce errors. It will also integrate with digital Laboratory Information Management Systems (“LIMS”) for completely paper-free operational solutions.
NetSuite® ERP software is also being implemented. NetSuite has over 29,000 unique clients, with over 1,000 in the Medtech/Pharma fields. Its ERP integrates seamlessly with MasterControl eQMS to provide Microbix with a complete and scalable digital solution that combines manufacturing, release-testing, finance, sales and customer relationship management, inventory control, and regulatory compliance. Full implementation will take 18 months, with significant milestones reached by the end of fiscal 2022.
Microbix currently operates a stringent, but paper-based ISO9001 and ISO13485 QMS appropriate for the highly-regulated markets in which it operates. Dr. Ken Hughes, Microbix’s Chief Operating Officer, commented, “Our current QMS/ERP solutions have ably supported Microbix over the last several years. However, a stated objective is to future-proof our business as we continue our rapid growth. Moving to state-of-the-art MasterControl and NetSuite cloud-based digital solutions, as well as expanding into newly-commissioned manufacturing facilities with more-automated processes, is doing exactly that”.
Microbix’s Sales topped C$ 18.6 million fiscal 2021, growth of 77% over the prior year and with a current run-rate of over C$ 20.0 million. Microbix is positioning itself to continue growing rapidly by improving control systems, increasing manufacturing capacity, and expanding the number of its product offerings.
About Microbix Biosystems
Microbix develops proprietary biological technology solutions for human health and well-being, with over 100 skilled employees and sales nearing C$ 2.0 million per month. 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 the quality of clinical diagnostic workflows. Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs are now available in over 30 countries, distributed by 1WA (Oneworld Accuracy Inc.), Alpha-Tec Systems, Inc., Diagnostic International Distribution SpA., Labquality Oy, The Medical Supply Company of Ireland, R-Biopharm AG, SDT Molecular Pte Ltd, Seegene Canada Inc., and Thomas Scientific LLC. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, 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 viral transport medium (DxTM™) to stabilize patient samples for lab-based molecular diagnostic testing and Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is traded on the TSX and OTCQX, 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 its eQMS and ERP goals or its providers, Microbix’s business operations 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.
Please visit www.microbix.com or www.sedar.com for recent Microbix news and filings.
For further information, please contact Microbix at:
|Cameron Groome, CEO
Adelaide Capital Markets
(647) 203-8793 email@example.com
Torrey Hills Capital
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Microbix®, DxTM™, Kinlytic®, ONBOARDx™, PROCEEDx®, QAPs™ and REDx® are trademarks of Microbix Biosystems Inc.
MasterControl® is a trademark of MasterControl, Inc.
NetSuite® is a trademark of NetSuite, Inc.