Microbix Discloses New Products, Sales, And Capacity

Microbix Discloses New Products, Sales, And Capacity

Sales Of QAPs™ Kits To Help Qualify Multi-Pathogen Respiratory Test Systems

MISSISSAUGA, CANADA, October 29, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, announces the availability and initial material sales of “onboarding” kits of its quality assessment products (QAPs™), designed to help testing sites with the successful installation and qualification of multi-pathogen respiratory testing systems.

Branded as “ONBOARDx™,” these QAPs kits are “RUO” classed and intended to assist labs with confirming technician proficiency, the functioning of instruments and reagents, and the handling of test samples. By so doing, ONBOARDx kits help qualify newly-purchased tests or test systems for use with patient samples.

ONBOARDx kits use Microbix’s “PROCEEDx™FLOQ®” room-temperature stable positive and negative samples, formatted on COPAN® FLOQSwabs®. PROCEEDxFLOQ swabs are available for support of each of COVID molecular tests, COVID antigen tests, and Flu A, Flu B, or RSV (each for both molecular and antigen tests). These unique and proprietary products provide important help for clinical lab directors or point-of-care sites as they work to implement multiple new or unfamiliar diagnostic tests or testing systems.

Microbix is making ONBOARDx available to test-makers directly, and to testing sites via its distributors; Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. Pathogen mix and swab numbers in kits can be customized.

Initially, more than 1,000 kits have been ordered, comprised of tens of thousands of swabs (units). This represents over CDN$ 500,000 in sales, with customer projections of continuing growth. A first material ONBOARDx shipment has now been completed, and in Q1 calendar 2021, Microbix is enhancing its FLOQSwab-based QAPs supply-chain to support production of up to 50,000 units per month.

As for all Microbix QAPs™, those in ONBOARDx kits emulate real patient samples while being consistent, non-infectious, and stable. Their broad cross-platform compatibility and guaranteed utility is particularly relevant for onboarding many different tests, instruments, and reagents under pandemic conditions.

Phil Casselli, SVP at Microbix, commented “Testing sites are working under stressful conditions – being tasked with delivering high test volumes with fatigued and diminished staff, while implementing new tests and testing systems, and using multiple reagents that can be incompatible across different testing systems. Our ONBOARDx kits enable test-makers and laboratory directors to more readily qualify new instruments, tests, or reagents for use, and to help with technician training. After successful validations by multiple industry leaders, we are now pleased to begin more broadly offering our ONBOARDx kits.”   

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with about 80 skilled employees and sales growing from a base of approximately $1 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 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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 Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is publicly-traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, all discussion of the ONBOARDx kits, the utility or consequences of use of the ONBOARDx kits, references to external collaborators and regulatory processes, 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 domestic or 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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

 

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, ONBOARDx™, PROCEEDx™, QAPs™, And REDx™ Controls Are Trademarks Of Microbix Biosystems Inc.
COPAN® And FLOQSwab® Are Trademarks Of COPAN Italia SpA
PROCEEDx™FLOQ® And REDx™FLOQ® Are Trademarks Of Microbix Biosystems Inc. In Cooperation With COPAN Italia SpA
Microbix Creates Further COVID-19 Quality Assessment Products

Microbix Creates Further COVID-19 Quality Assessment Products

QAPs™ To Support Accuracy Of COVID-19 Antigen-Test Workflows

MISSISSAUGA, CANADA, October 20, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, announces its creation,  external verification, initial sales, and first shipments of a new class of quality assessment products (QAPs™) to help implement or ensure workflow accuracy of antigen-based tests for the virus causing COVID-19 disease.

Antigen-based tests look for intact or fragmented virus within a patient sample, which can be taken and analyzed at the same point-of-care. Such tests are proving to be a faster and less expensive option for screening for COVID-19 disease, although they will likely not replace lab-based nucleic-acid (“NAAT” or “RT-PCR”) testing for definitive diagnosis. An initial group of antigen-based tests have been authorized for emergency use by authorities such as the United States FDA, which has made six such tests available.

Microbix created its antigen-test QAPs to support laboratory proficiency testing and accreditation, test development or lab training, and support of clinical lab workflows. External validation of these products has been completed with multiple test makers and is one of the catalysts for the current disclosure.

Furthermore, yesterday Microbix shipped over a thousand units of a prototype of these QAPs – purchased by international proficiency-testing and accreditation agencies for widespread clinical lab confirmations of their reliability across the COVID-19 antigen-tests now coming into use. Upon receipt of such widespread validation, Microbix will complete assembly of the detailed technical file necessary to register/license its COVID-19 antigen-test QAPs for clinical lab use. With regulatory work completed, they will become available for lab testing workflow support – as “REDx™FLOQ® SARS-CoV-2 Ag” positive and negative samples that are room-temperature stable and formatted on COPAN® FLOQSwabs®.

Microbix believes these COVID-19 antigen-test QAPs compliment the COVID-19 nucleic-acid test QAPs created this spring (REDx™FLOQ® SARS-CoV-2 & REDx™ Controls SARS-CoV-2) that have since been successfully adopted to support proficiency testing, lab training, and the quality management systems of clinical laboratories in Australia, the European Union, North America, Scandinavia, and the UK. Microbix remains committed to continuing to build its portfolio of innovative, proprietary, and branded QAPs – currently focused within the respiratory and sexually-transmitted categories of infectious disease.

As for all Microbix’s QAPs, the COVID-19 antigen-test variants are designed to provide support for quality management systems regardless of what specific tests are in use and additional to whatever on-board controls are used within particular tests. As such they supplement accuracy without risk to patients.

Cameron Groome, President and CEO, stated, “We look forward to being able to make these new QAPs widely-available to support test development or deployment, lab training and accreditation, and lab testing workflows. I thank our internal product development teams and external collaborators for creating another important tool for helping worldwide health systems manage the COVID-19 pandemic.”

Microbix will discuss its QAPs portfolio, viral transport media project, and broader business outlook during a webinar on Wednesday, October 21 at 11:00 AM Eastern Time (ET). To attend, RSVP via hyperlink to https://us02web.zoom.us/webinar/register/WN_wyzCPXI6QNm_PhbLzmNYPQ. The webinar will be live-streamed to https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw (the YouTube channel of Adelaide Capital) and a replay will also be posted.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales of approximately $1 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 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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 Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is publicly-traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, references to new products or their utility, regulatory paths and authorities, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those that may be referenced herein, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.         
Microbix®, Kinlytic®, QAPs™, And REDx™ Controls Are Trademarks Of The Company
REDx™FLOQ® Is A Trademark Of Microbix Biosystems Inc. In Cooperation With COPAN Italia SpA
COPAN® And FLOQSwab® Are Trademarks Of COPAN Italia SpA
Ontario Helps Microbix Ensure Provincial COVID Testing Capacity

Ontario Helps Microbix Ensure Provincial COVID Testing Capacity

Grant Of $1.45 Million For Ontario-Based Production Of Critical Test Reagents

MISSISSAUGA, October 13, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, is pleased to announce the execution of a grant agreement with the Ontario Together Fund (OTF) of the Ministry of Economic Development, Job Creation and Trade (MEDJCT).

The Honorable Vic Fedeli, Minister of MEDJCT, Minister responsible for OTF, and Member of Provincial Parliament for Nipissing, has approved an OTF grant of $1.45 million to cover 50% of the cost  to automate production of Microbix’s quality assessment products (QAPs™) that help ensure the accuracy of infectious disease diagnostic testing, and enable local, secure, and cost-effective automated production of the quantities of viral transport media (Media) needed for Ontario’s nucleic-acid testing for COVID-19.

Microbix has achieved a leading position in providing QAPs™ that help ensure tests for COVID-19 disease are being performed correctly. On recognizing the outbreak could become a pandemic, it developed prototypes, validated them with leading international test-makers, and obtained regulatory permissions for clinical laboratory usage in Australia, the European Union, North America, Scandinavia, and the UK.

At the request of Ontario, Microbix will now create a secure and locally-based supply of Media, any lack of which limits capacity for COVID-19 testing. It is Microbix’s intention to begin production on a semi-automated basis before year-end, and move to fully-automated production as soon as possible in 2021. Daily vial capacity is initially targeted at thousands, increasing to tens of thousands upon automation.

OTF’s grant contribution will help fund automation at Microbix’s 10,500 square foot production, packaging, and administrative site – to provide secure and cost-effective domestic supply of high quality Media. The grant will also be used toward funding automation of QAPs manufacturing, as needed to support growing unit volume requirements – as projected by lab accreditation agencies, diagnostic test-makers, clinical labs, and distributors. Lastly, the grant will assist Microbix in creating more highly-skilled jobs in science and manufacturing in Mississauga – adding to its workforce of about 80 professionals.

“We’re proud to support Microbix’s creation of made-in-Ontario solutions that reduce our dependence on foreign supplies, strengthen our domestic capacity, and better prepare us for the future.”

– Vic Fedeli, Minister of Economic Development, Job Creation and Trade, Minister Responsible for the Ontario Together Fund, and MPP for Nipissing.

“Microbix is honored to help the Government of Ontario respond to the critical public health challenges of this pandemic. We are very thankful for this grant support, which will make us even more effective.”

 Cameron Groome, CEO and President of Microbix Biosystems Inc.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with about 80 skilled employees and sales of approximately $1 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 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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 Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is publicly-traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of, OTF or MEDJCT or the Government of Ontario, the grant funding and its objectives or consequences, Microbix’s business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced, 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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

For Media enquiries, please contact The Government of Ontario at:

Rebecca Bozzato                                             Sumita Kanga

Minister Fedeli’s Office                                  Communications Branch

Rebecca.bozzato@ontario.ca                   Sumita.kanga@ontario.ca

416-569-1890

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, And QAPs™ Are Trademarks Of Microbix Biosystems Inc.
Microbix Presenting COVID-19 Product Results To Industry

Microbix Presenting COVID-19 Product Results To Industry

Abstract Reports Multi-Platform Utility Of IVD SARS CoV-2 Lab Workflow Control

MISSISSAUGA, CANADA, September 22, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), an award-winning life sciences innovator and exporter, announces it is has been invited to present about the performance of its COVID-19 in-vitro diagnostics (IVD) quality assessment products at “ECCVID,” a virtual conference on Coronavirus disease organized by the European Society for Clinical Microbiology and Infectious Diseases (ESCMID), taking place September 23-25, 2020.

The abstract presentation is titled “Novel SARS-CoV-2 Full-Genome Material For Use In A Swab-based Formulation As A Multi-Platform NAAT Quality Control.” It reviews the performance of Microbix’s novel, innovative, and proprietary REDx™FLOQ® SARS-CoV-2 product – A tool for helping to ensure the accuracy of clinical laboratory “RT-PCR” testing for active infection with the virus causing COVID-19 disease. The results demonstrate that Microbix’s COVID-19 quality assessment products (QAPs™) contain all required nucleic acid targets and are formulated for compatibility across many widely-used RT-PCR tests.

Microbix believes these results show it is addressing the need for workflow controls to effectively support the quality objectives of clinical labs testing for SARS-CoV-2 infections across many diagnostic instrument platforms. It also believes that this QAPs product will assist with the provision of optimal healthcare globally and that it represents a meaningful new revenue opportunity for Microbix.

The abstract presentation was authored by six members of Microbix’s product development (R&D), operating, and customer support teams and details the REDxFLOQ SARS-CoV-2 performance results in a complete and succinct fashion. It is being presented by Microbix’s Director of Quality Assessment Products (QAPs™), Pavel Zhelev. The full slides will be made available on the company website, www.microbix.com, after their presentation at ECCVID and includes Microbix’s thankful acknowledgement of ten collaborator organizations across Europe, North America, and Scandinavia.

Purchase enquiries for REDxFLOQ SARS-CoV-2 (IVD) and PROCEEDx™FLOQ® SARS-CoV-2 (RUO) should be directed to Microbix or its distributors, those being Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. Further information about Microbix’s COVID-19 products and its other IVD and RUO (Research Use Only) QAPs is available on the company website at www.microbix.com and on the websites of its distributors.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and current sales of approximately $1 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 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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 Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is publicly-traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, reference to the conference or the materials presented there, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those that may be referenced herein, sales to foreign jurisdictions or their regulations, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.         
Microbix®, Kinlytic®, And QAPs™ Are Trademarks Of The Company
PROCEEDx™FLOQ® And REDx™FLOQ® Are Trademarks Of Microbix In Collaboration With COPAN Italia SpA
Microbix Announces Extension Of Warrant Expiry Dates

Microbix Announces Extension Of Warrant Expiry Dates

Applies For 12-Month Term Extension Of October 2015 And October 2017 Warrants

MISSISSAUGA, CANADA, September 17, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), an award-winning life sciences innovator and exporter, announces it has applied to the TSX to extend the term of an aggregate of 7,413,052 common share purchase warrants (“Warrants”) which were issued in connection with Microbix’s October, 2015 and October, 2017 private placement financings.

The Warrants now entitle holders to purchase common shares of Microbix at prices from $0.36 to $0.55 until October, 2020.  Microbix has applied to the TSX to extend the Warrant terms by one year.   The term extensions will not be effective until September 28 and all other Warrant terms will remain unchanged.

The Warrant series for which term extensions are being sought are 94.1% held by parties that are arm’s length to Microbix. Term extensions for the 5.9% of Warrants held by Microbix insiders will be contingent on disinterested shareholder approval, and insiders will not be permitted to exercise such Warrants unless and until such approval is obtained. All proposed Warrant term extensions are subject to TSX approval.

The decision to seek extension of the term of these Warrant series was undertaken by a special committee of three non-conflicted (disinterested) board directors. After analysis, the special committee concluded that additional capital could be put to effective use by Microbix and that improving the prospect of the exercise of these Warrant series could help provide additional capital without the discounts or transactional costs associated with new private placements or public offerings of equity.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales 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 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 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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 Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is publicly-traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, reference to regulatory authorities, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those that may be referenced herein, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.         
Microbix®, Kinlytic®, And QAPs™ Are Trademarks Of The Company
Microbix Announces Board Changes

Microbix Announces Board Changes

William J. Gastle Retiring, Martin Marino Nominated To Become Independent Chairman

MISSISSAUGA, CANADA, September 15, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), an award-winning life sciences innovator and exporter, announces that its founder and Executive Chairman William J. (Bill) Gastle has elected to retire effective October 15, 2020, and that Martin Marino has been nominated to become the Independent Chairman of its Board of Directors.

Bill Gastle, a virologist by training, founded Microbix in 1984 and took it public in 1990. The Company began by selling bacterial and cellular growth media to Canadian public health laboratories. It was soon entrusted with culturing the different bacteria and viruses of concern for those labs, and such expertise in turn led to contracts with infectious disease test developers around the world. Microbix salutes Bill’s creation of an irreplaceable Ontario-based reservoir of life sciences expertise, the importance of which is being amply demonstrated during the current pandemic. While Bill is retiring, we know that the honest, loyal, and caring culture that he built will continue to pervade Microbix, along with his passion for great science and innovation.

Martin Marino, who has served on the Microbix Board of Directors and as Chair of its Audit Committee since 2009, becomes independent Chairman. He is currently CEO and a Director of Aluvis International, Inc. and, among other roles, previously served as Global General Counsel of Merck Generics Group and VP International Corporate Development for Apotex Inc.

Vaughn Embro-Pantalony, Microbix’s former CEO and a Director since 2007, will be succeeding Martin as independent Audit Committee Chairman. Vaughn is currently Chairman of Soricimed Biopharma Inc., and Audit Committee Chairman of BriaCell Therapeutics Corp. He is a Chartered Director and Audit Committee Certified (McMaster University), and previously served as VP Finance and CFO of Novopharm Limited.

Bill Gastle provided the following comments, “I’d like to thank everyone at Microbix, as well as our many customers and collaborators worldwide, for their support and friendship over the years. Microbix is now by far the longest-standing Canadian-controlled and TSX-listed life sciences company, and we’re fiercely proud Ontarians. I know Microbix’s future is brighter than ever and look forward to remaining in close contact with our board, management, and staff.”

Everyone at Microbix wishes Bill and his wife Susan a happy, healthy, prosperous, and very well-earned retirement.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales 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 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 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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 Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is publicly-traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

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 Board or its Directors, the history or prospects of the company, references to external collaborators and regulators or regulatory processes, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, And QAPs™ Are Trademarks Of Microbix Biosystems Inc.
Microbix’s REDx™ Controls Attain Australian TGA Registration

Microbix’s REDx™ Controls Attain Australian TGA Registration

Enables Use of COVID-19 and HPV Products by Australian Clinical Labs

MISSISSAUGA, CANADA, September 10, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), an award-winning life sciences innovator and exporter, is pleased to announce attainment of Australian Therapeutic Goods Administration (TGA) registration for its COVID-19 and high-risk HPV quality assessment products (QAPs™) – TGA registration of these REDx™ Controls & REDx™FLOQ® products by Microbix’s distributor, R-Biopharm, enables it to offer these workflow controls to Australian clinical labs.

The Microbix COVID-19 and HPV QAPs have been shown to work with multiple NAT methods used to detect the SARS-CoV-2 virus that causes COVID-19 disease, or the high-risk types of HPV that are directly implicated as the cause of multiple human cancers. As whole-genome controls, Microbix’s QAPs support test accuracy regardless of what variety of nucleic-acid sequences a test targets across the viral genome.

Cameron Groome, President and CEO, stated, “We’re pleased R-Biopharm has completed the process of registering our COVID-19 and HPV QAPs to permit their sale for test workflow support at clinical labs in Australia. Sales enquiries should be directed to R-Biopharm Australia Pty Ltd., while Microbix will be pleased to provide further technical support. We intend for our QAPs to support the accuracy of testing for COVID-19 disease and high-risk HPV infections throughout Australia and its territories, as they’re now doing in numerous other countries across the European Union, North America, Scandinavia, and the UK.”

Andreas Simons, Director of Product Management, Clinical Diagnostics for R-Biopharm also commented, “We’re pleased that clinical labs across Australia will now have access to Microbix’s superior workflow controls for supporting the accuracy of RT-PCR tests for COVID-19 and PCR tests for high-risk HPV. Technical training of R-Biopharm’s local representatives is complete, we’ve inventoried product, and we’ll now be supporting adoption of these controls to help clinical labs ensure that their testing programs minimize false negatives and false positives – each of which can result in harm to patients and society.”

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales 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 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 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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 Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is a publicly-traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.

About R-Biopharm AG and R-Biopharm Australia Pty Ltd.

Founded in 1988, based in Germany, and privately-owned, R-Biopharm AG is a leading global provider of test systems for clinical diagnostics, companion diagnostics, and analyzing human and animal feedstuffs. Its products are characterized by innovation, quality, reliability, and efficiency. R-Biopharm products are sold through a network of more than 20 affiliates or subsidiaries, and over 120 distribution partners. Please visit www.r-biopharm.com for more information.

Forward-Looking Information

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 COVID-19 QAPs, the utility or consequences of use of the COVID-19 QAPs, references to external collaborators and regulators or regulatory processes, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia SPA
Q3 Fiscal 2020

Q3 Fiscal 2020

Year-Over-Year QAPs Sales Growth of 141% for Q3

MISSISSAUGA, August 14, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, reports results for its third quarter and year to date fiscal 2020 (Q3 and YTD) ended June 30, 2020, with an increase of 141% in sales of Quality Assessment products (QAPs™).

Management Discussion

Overall, Q3 revenues were down from Q3 2019, due in part to negative pressure on antigen demand for non-COVID infectious disease testing. Specifically, lower antigen revenues were achieved from Europe and Asia, from a combination of pandemic-related patient-flow disruption impacting end-user demand, an unforeseen production issue, order periodicity, and contract pricing adjustments. While antigen sales are now being negatively impacted by the pandemic, they are expected to recover across fiscal 2021 as patients more readily return to clinics for non-COVID testing.

In contrast, sales of QAPs more than doubled year-over-year for Q3, due to sales of new products and contract development revenues. Although initial shipments to distributors occurred only late in Q3, the novel and innovative PROCEEDx™ and REDx™ brand QAPs are now being well-received by commercially-important test makers and labs in multiple countries. Looking beyond COVID, the market potential for the HPV QAPs remains robust, but sales growth of this product line has been delayed by the global pandemic. We anticipate HPV QAP sales to begin to have a more material impact in F2021. Lastly, the manufacturing build-out at our second site is underway to facilitate increased QAPs production and efficiencies.

Despite significant progress on the QAPs side of the business, gross margins for Q3 disappointed – Beyond normal swings in product mix there were a series of batch contaminations later in this first quarter of full bioreactor usage. All affected batches were written-off in Q3 and a series of corrective and preventative actions (CAPAs) are being implemented to prevent recurrences. Contamination of the bioreactor batches was principally due to supplier quality issues that have now been identified and addressed, so Microbix does not expect any similar impact on sales and margins in future quarters. Such bioreactor batch losses are largely responsible for the net loss recorded for Q3, which was unforeseen.

For the balance of fiscal 2020 and into fiscal 2021, further QAPs sales growth and continuing improvements to gross and net margins are targeted and expected – driven by product mix and efficiency gains. Microbix remains committed to improving its operational and financial strength and thereby driving share price appreciation. The Company also remains in active discussions with multiple parties regarding partnering its Kinlytic® urokinase project in order to maximize shareholder value for that asset.

 

Third Quarter Financial Results

Total Q3 revenue was $2,898,328, a 7% decrease from Q3 2019 revenues of $3,110,615.  Included were antigen revenues of $2,245,912 (Q3 2019 – $2,791,846), while QAPs revenues of $570,148 were up by 141% (from $236,551 in Q3 2019), and royalties were flat at $82,268 (Q3 2019 – $82,218). Gross margin for this quarter was 47%, down from 49% last year and impacted by the unforeseen batch losses.  While revenues from bioreactor-produced antigen were up significantly from last year, overall Rubella antigen sales were down from Q3 2019.   In addition, a Q3 sales mix skewed to weaker-margin products adversely affected gross margin compared to the same period last year, which had a higher-margin sales mix.

Operating expenses increased by 5% from Q3 2019, primarily a result of increased investment in product development and unfavourable foreign exchange losses in the current quarter.

Lower sales and fewer gross margin dollars in Q3 led to an operating loss & net loss of $440,233 versus an operating loss & net loss of $191,322 in Q3 2019.  Cash from operations of $764,707 was up substantially from last year’s cash used of $201,783, most of the difference from non-cash working capital changes.

YTD Financial Results

YTD revenue was $7,819,172, a 20% decrease from 2019 YTD revenue of $9,825,056.  Included were antigen revenues of $6,550,289, 26% lower than 2019.  YTD sales were impacted by timing of orders and emerging pandemic-related factors, as outlined in our prior quarterly commentaries and herein.  YTD QAPs revenues were strong at $1,022,153; up 51% from YTD 2019.  YTD revenue from royalties were essentially flat at $246,730 (2019 – $260,597). Gross margin YTD was 48%, down from 51% in fiscal 2019, due to a higher margin product mix in 2019 and a Q3 departure from targeted bioreactor product margins.

YTD Operating expenses increased by 3% from 2019, primarily due to increased investment in sales, marketing, and new product development.  Weaker YTD sales and gross margins led to a net loss of $1,244,528 versus a net profit of $171,419 in 2019.  Cash from operations was $224,648, compared to cash used of $530,202 in 2019, with the increases in 2020 due mainly to non-cash working capital accounts.

 

Corporate Outlook

For the balance of fiscal 2020 and into fiscal 2021, Microbix will work to continue improving the percentage gross margins from its critical ingredients (antigens) business and achieve strong growth in sales of its lines of innovative, proprietary and branded quality assessment products (QAPs™). Additionally, work continues with regards to securing a partnership agreement to advance Microbix’s Kinlytic® urokinase project for its catheter-clearance indication.

Adelaide Capital will host a live webinar with management, on August 19, 2020 at 11am EST. Please register here:  https://us02web.zoom.us/webinar/register/WN_whsjrXWDQs2gypU7OFGFVA

The event will also be live-streamed to YouTube Channel: https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw.

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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those referenced herein, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.          Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ are trademarks of the Company
Microbix AGM & Corporate Presentation – Spring 2020

Curious To See How We Perform A COVID Test?

Curious to see how we perform a COVID test?

The video shows the laboratory steps involved in testing four patient samples along with one Control. The reagents and procedures are for the “CDC test” for SARS-CoV-2. Still, there is no difference in processing these patient samples from any sample evaluated for respiratory or sexually transmitted infections. The CDC test procedure is very similar to most manual molecular diagnostic tests.

Most infectious disease tests are manual or semi-manual due to their low cost and versatility. These tests, like the CDC’s test, are referred to as Lab Developed Tests or “LDT’s” since many labs have the capabilities of developing tests in house. Large centers with the financial ability, and that exhibit a constant, high volume of samples (to keep expensive equipment busy), will use automated systems, eliminating many of the human interventions and thus potential errors, thereby reducing the frequency of controls used. The end of the video shows the simplicity of a Point of Care (POC) test system and can deliver results in minutes. These have cartridge-based reagents and automated sample processing, but they come at a significant price premium per test, and they only process 1 sample per cartridge.

How does the Control help confirm test reliability?

The Control has a predetermined outcome. All samples, including the Control, will have a “Ct” value reported by the test. The Ct value is an indication of strength (or concentration) of the target pathogen. Labs will establish their clinical thresholds for publishing a ‘positive’ or ‘negative’ result. Ideally, the test system should report a consistent Ct value for Control samples. This method facilitates effective monitoring of the laboratory workflow and ensuring the performance of the tests (and their results) are within the threshold limits. This process is critical in determining whether the patient sample is ‘positive’ or ‘negative.’ If there are significant deviations from the expected result or drifts in the Ct value is detected, the patient sample results may be unreliable, and an investigation will occur.

Results can be affected by incorrect reagents used, improper handling (like poor mixing, etc.), contamination, improper sample placement into the assay plates etc. If any of these happens without the Control in place, it may never know. When the Control results are as expected, there is increased confidence in all results. An investigation determines causation if Control results deviate from expectation, and patient outcomes may be unreliable.

Watch the video as it illustrates how a laboratory conducts the steps involved in testing patient samples.

Microbix Shares Become Available For U.S. Investors

Microbix Shares Become Available For U.S. Investors

OTC Markets Listing and DTC Electronic Clearance Eligibility

MISSISSAUGA, ON, CANADA, July 14, 2020 – Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), an award-winning life sciences innovator and exporter, announces that it has completed two processes to make its common shares available for U.S. investors to buy and sell; (i) the listing of its common shares on the OTCQB platform under the ticker symbol MBXBF, and (ii) approval for electronic clearance and settlements of trades by way of DTC Eligibility.

The OTCQX® Best Market, OTCQB® Venture Market, and Pink® Open Market provide forums for the trading of 10,000 U.S. and global securities, operated by NY, NY based OTC Markets. OTCQB enables investors to easily trade through the broker of their choice and empowers companies to make the required disclosures available for U.S. investors.  Real-time OTCQB quote and market information is available at www.otcmarkets.com/stock/mbxbf/overview.

DTC is the Depository Trust Company, a member of the Federal Reserve System, a limited-purpose trust company under New York State banking law, and a registered clearing agency with the U.S. Securities and Exchange Commission. DTC provides for the shares of eligible international and U.S. companies to be electronically cleared and settled through its systems (DTC Eligibility).

Jim Currie, CFO of Microbix, commented, “Almost all our sales are recorded from customers outside of Canada, with a large proportion from the United States. It therefore makes sense to enable U.S. investors to consider ownership of shares in Microbix, particularly given their higher level of interest in life sciences companies and our ongoing work to increase the scale of our revenues and level of profitability.  Trading on the OTCQB should increase the company’s investor support base into the United States, by providing new and existing shareholders in the U.S. with an efficient and transparent trading platform.”

Microbix common shares continue to trade on the Toronto exchange under the stock symbol MBX, with real-time TSX market information available at https://web.tmxmoney.com/quote.php?qm_symbol=MBX.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales now exceeding $1 million per month on average. Microbix 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 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, including those supporting COVID-19 testing, are now available in 22 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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 the U.S. OTCQB Market, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

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 DTC Eligibility or DTC, the OTCQB listing or OTC Markets, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, and QAPs™ are trademarks of Microbix Biosystems Inc.
OTCQX® Best Market, OTCQB® Venture Market, and Pink® Open Market are trademarks of OTC Markets
Hello world, a new COVID-19 EQA product!

Hello world, a new COVID-19 EQA product!

Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress.

This is your first post. Edit or delete it, then start writing!

Microbix COVID-19 QAPs Attain EU “CE Mark” Registration

Microbix COVID-19 QAPs Attain EU “CE Mark” Registration

Enables Usage of SARS-CoV-2 Controls by Clinical Labs across Europe

MISSISSAUGA, CANADA, June 5, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, is pleased to announce the attainment of European Union “CE mark” (Conformité Européene) registration for its SARS-CoV-2 quality assessment products (QAPs™) – CE mark registration enables Microbix’s network of distributors that now covers 18 EU countries to immediately begin providing these products to clinical laboratories across the EU.

The Microbix COVID-19 QAPs have been shown to work with multiple NAT methods used to detect the SARS-CoV-2 virus that causes COVID-19 disease, specifically tests targeting a variety of nucleic-acid targets across the genome of the virus. These Microbix products are being made available as REDx™FLOQ® SARS-CoV-2 for swabs, and as REDx™ SARS-CoV-2 for liquid aliquots (vials).

Cameron Groome, President and CEO, stated, “We’re pleased to have completed the process of registering our SARS-CoV-2 Controls to permit their sale as controls to clinical labs across the EU. Microbix’s distributors will now engage with European governments, health authorities, hospitals and laboratory chains, to make certain that EU healthcare systems can benefit from these Microbix products.”

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales now 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 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 22 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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.

Forward-Looking Information

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 COVID-19 QAPs, the utility or consequences of use of the COVID-19 QAPs, references to external collaborators and regulators or regulatory processes, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia SPA

Microbix Announces Quality Products Distribution Agreement

Microbix Announces Quality Products Distribution Agreement

Appointment of Medical Supply Company of Ireland

MISSISSAUGA, March 24, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®),  a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices that help ensure test accuracy, announces the appointment of The Medical Supply Company of Ireland (MSC) as a distributor.

Under an agreement between the parties, MSC has been appointed as distributor of Microbix’s quality assessment products (QAPs™) for the Republic of Ireland and Northern Ireland. As distributor, MSC will provide marketing, distribution, and logistical support for Microbix’s QAPs. At present, there are four dozen such QAPs across the PROCEEDx™ and REDx™ Controls tradenames – to support the whole-process accuracy of tests for bacterial and viral diseases by emulating patient samples while being consistent, non-infectious, and stable.

MSC is a privately-owned life sciences distribution company with highly-trained technical sales people providing analytical consumables, diagnostic equipment and other solutions to customers in the fields of life science and clinical diagnostics. MSC is particularly interested in Microbix’s Human Papilloma Virus (HPV) and Mycoplasma genitalium (MGEN) control products, two diseases at the forefront of sexual health testing, as MSC services a number of clinical laboratories performing these tests using equipment from manufacturers that have verified the performance of those Microbix products.

Phil Casselli, SVP of Sales and Business Development of Microbix stated, “We’re pleased to have MSC become a distribution partner for our QAPs product lines. They are the major provider of laboratory supply materials, diagnostic controls and technical support for the Republic of Ireland and Northern Ireland, with well-trained marketing and sales staff and a team of field service professionals. Microbix believes MSC will provide QAPs customers with excellent user training and after sales support for our growing PROCEEDx™ and REDx™ Controls product lines.”

Lisa Tang, Life Sciences Sales Manager for MSC also commented, “We’re excited to be providing Microbix’s innovative QAPs to our diagnostics customers. These QAPs will complement our portfolio of controls and supplies for sexually-transmitted, respiratory, gastrointestinal, and hospital-acquired pathogens. Training of MSC staff about QAPs is underway and we’re now stocking these products for our customers.”

 

 

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with sales now exceeding $1 million per month on average and approximately 80 skilled employees. 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 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. Distribution inquiries should be directed to sarah.sokol@microbix.com.

About Medical Supply Company of Ireland
Medical Supply Company was established in 1971 and is an Irish owned Company. MSC is ISO 9001 accredited and distributes laboratory products to research, diagnostic, and industrial laboratories. MSC is one of the largest laboratory supply companies in Ireland and has nine sales representatives, all educated to PhD, MSc, or degree level, accompanied by eight service engineers trained to support the equipment it supplies.

Forward-Looking Information

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 distribution agreement or MSC, the referenced product lines, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     

Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix BioSystems Inc.
Microbix Engaged To Develop & Supply Custom QAPs™

Microbix Engaged To Develop & Supply Custom QAPs™

Instrument-Specific Controls to Support Rapid Tests for Viral Respiratory Pathogens

MISSISSAUGA, June 1, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, announces that it has been engaged to develop and supply custom quality assessment products (QAPs™) to support the registration and sales of a new point-of-care instrument and its tests for viral respiratory pathogens.

Under an agreement between the parties, the companies’ technical teams are collaborating to develop custom QAPs to support submission for U.S. FDA registration and waiver from U.S. “CLIA” regulations. The QAPs being developed will provide accompanying control kits for quality validations of multiple viral respiratory pathogen tests.

The customer instrument platform being supported by the custom Microbix QAPs is designed to be a simple, easy to use, portable point-of-care testing system with multiple advanced features. The instrument is intended for widespread deployment in pharmacies, doctors’ offices, and other point-of-care locations, and to run a large menu of tests.

Microbix QAPs are designed to mimic actual patient samples, while being non-infectious, stable, and reliable. Under its PTDx™, PROCEEDx™, REDx™FLOQ® or REDx™ Controls brands, Microbix supplies a broad range of QAPs – including but not limited to viral respiratory pathogens.

Microbix QAPs can provide support for the proficiency testing (PT) programs of lab accreditation organizations, instrument validation/verification and operator training, test development/registration, quality management systems of clinical laboratories, and point-of-care patient sample testing.

The agreement provides Microbix a series of payments for development services, followed by supply of minimum order quantities of the QAPs once developed. An initial non-refundable payment of US$ 45,000 has already been received by Microbix and the development portion of the agreement is expected to be completed in its fiscal 2020 (September 30). Purchase/supply of QAPs is expected to begin this fall and reach 100,000 units in the first year.  First-year revenues from the agreement are expected to exceed CA$ 1.0 million.

Cameron Groome, CEO of Microbix commented, “Our deep experience in creating QAPs for international PT programs has built the expertise that enables us to create the custom controls necessary to support infectious disease tests on next-generation point-of-care instruments. We’re pleased to have been selected by this customer for developing the QAPs needed to register their initial respiratory virus test menu and for QAPs supply upon their U.S. and international registrations.”

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales now 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 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 21 countries, distributed by Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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.

Forward-Looking Information

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 development and supply agreement or the customer and its tests or instrument, the referenced product lines, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     

Microbix®, Kinlytic®, PROCEEDx™, PTDx™, QAPs™, and REDx™ Controls are trademarks of Microbix BioSystems Inc.
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia S.p.A.
Microbix Expanding QAPs™ Production Capacity

Microbix Expanding QAPs™ Production Capacity

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.

Forward-Looking Information

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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia S.p.A.
Microbix Achieves Full Utilization Of Its Bioreactors

Microbix Achieves Full Utilization Of Its Bioreactors

Six Units in Ongoing Use for Foreseeable Future, Seventh Ordered

MISSISSAUGA, CANADA, May 19, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, announces that it has achieved full utilization of the six bioreactor units it installed for manufacturing the “antigens” which are at the core of immunoassays that establish exposure or immunity to the Rubella virus, the cause of German Measles.

This marks a milestone for Microbix shareholders, as product from subsequent bioreactor batches will more fully realize the gross margin benefits of multiple units being run in parallel by the same personnel. Product deliveries from this level of operations will start to be made as of October, 2020 – realizing the originally intended gross margin benefits in the first quarter of fiscal 2021 and beyond.

Cameron Groome, President and CEO, stated, “I invite all Microbix stakeholders to join me in thanking our talented professionals for enabling us to achieve this strategically important goal. This project involved every department of our company, including R&D, Manufacturing, QC, QA, Sales & Marketing, Finance, and HR. As a result of bioreactor production attaining this level of activity, Microbix should start realizing better and more consistent gross margins from this best-selling and critical antigen product.”

Microbix’s intense program has led to it becoming expert in the usage of bioreactors for mammalian cell culture and for production of native-organism viral antigens. It can now reliably produce enough Rubella antigen to supply all demand from its international customer-base of immunoassay test makers. Microbix’s dedicated bioreactor suite has been designed to accommodate up to eight bioreactors.  The Company has recently ordered a seventh unit to conduct further process optimization studies. In future, these more efficient methods may be applied to the production of other viral antigens, and the conversion of Rubella to bioreactors has freed space for more production of other antigens by conventional methods.

Microbix began the program to convert its production of this critical “TORCH Panel” test ingredient from traditional “roller bottle” culturing methods to leading-edge bioreactor technology in 2015. Validation of Microbix’s processes and its first commercial sale were achieved in September, 2017. Microbix completed renovations to its facility to accommodate up to eight bioreactors in May, 2018 and it purchased six. After multiple customer-driven timeline extensions, Microbix announced full acceptance of antigen produced via its bioreactor process in August, 2019. Since that time, Microbix has been consuming built-up product inventory and, one-by-one, has been increasing the number of its bioreactors being regularly operated.

Financial support for the bioreactor program was provided by Microbix’s many shareholders, with further assistance from the Industrial Research Assistance Program and the FedDev Ontario program of the Government of Canada. Microbix gratefully acknowledges this assistance, as well as the cooperation of its customers in reconfirming the acceptability of bioreactor-produced antigen for their tests.

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.

Forward-Looking Information

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 bioreactors and the product made in them, the utility or consequences of use of the bioreactors, references to external collaborators and regulatory processes, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, and QAPs™ are trademarks of Microbix Biosystems Inc.
Microbix Announces Quality Products Distribution Agreement

Microbix Announces Quality Products Distribution Agreement

Appointment of Labquality Oy of Finland for 7 Countries

MISSISSAUGA, April 27, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, announces the appointment of Labquality Oy (Labquality) as a distributor of its Quality Assessment Products (QAPs™) in seven (7) countries.

Under an agreement between the parties, Labquality has been appointed as distributor of Microbix’s quality assessment products (QAPs™) for Denmark, Estonia, Finland, Latvia, Lithuania, Poland, and Sweden. As distributor, Labquality will provide marketing, distribution, and logistical support for Microbix’s QAPs. At present, there are four dozen such QAPs across the PROCEEDx™ and REDx™ Controls tradenames – to support whole-process accuracy of tests for bacterial and viral diseases by emulating patient samples while being consistent, non-infectious, stable, and cross-instrument compatible.

Based in Helsinki, Labquality is a Finnish owned and operated life sciences company that provides clinical laboratories with external quality assessment (EQA) programs to evaluate their proficiency and attain necessary accreditations. Labquality also provides quality controls (e.g., QAPs) and other reference materials to support the internal quality management systems of clinical laboratories. Labquality services approximately 6,500 customers in over 50 countries and maintains an extensive network of sub-distributors of its products and programs.

Labquality will incorporate Microbix’s QAPs into its EQA programs and sell PROCEEDx™ and REDx™ Controls branded QAPs directly to its clinical laboratory customers. This will include Microbix’s QAPs to support the accuracy of testing for respiratory viruses such as SARS-CoV-2 (COVID-19), Flu A, Flu B, and RSV, as well as its leading-edge QAPs for high-risk types of HPV and other sexually-transmitted infections. Labquality already services clinical labs in the territories and is well-positioned to distribute the full QAPs catalogue.

Cameron Groome, CEO & President of Microbix, stated, “We’re pleased to have Labquality become our distribution partner for QAPs product lines for Scandinavia and Northern Europe. As an established proficiency testing program provider and product distributor in the region, they are highly-respected and well-known by both hospital and stand-alone labs. Our controls are therefore a natural addition to their product offerings and we are convinced the agreement will be successful for both our companies.”

Mia Lindström, Managing Director of Labquality, also commented, “We’re pleased to secure access to Microbix’s innovative QAPs for our laboratory customers. There is an ever-increasing need to improve the accuracy of clinical diagnostic testing that these products will help address. Training of Labquality staff about QAPs is already well advanced and we are now beginning to stock this product portfolio.”

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with sales now exceeding $1 million per month on average and approximately 80 skilled employees. 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. Distribution inquiries should be directed to sarah.sokol@microbix.com.

About Labquality Oy

Labquality is based in Helsinki, Finland and has annual turnover of approximately €8 million. It is wholly-owned by COR Group Oy, a health services firm with over 2,600 employees and annual turnover of approximately €350 million. Labquality is ISO 9001, 17021, and 17043 accredited and was founded in 1971.

Forward-Looking Information

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 distribution agreement or Labquality, the referenced product lines, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.

Microbix Reports Record Second Quarter Sales

Year-Over-Year Sales Growth of 28% in First-Half

TORONTO, May 14, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, reports financial results for its second quarter of fiscal 2018, the three-month period ending March 31, 2018 (“Q2”), with record sales and progress toward its operational goals.

Second Quarter Financial Results

Total Q2 revenue was $3,000,193, an increase of 13% compared to 2017 – on target with management’s goal of double-digit percentage sales growth. Revenues were dominated by antigen sales, but included a significant amount of laboratory proficiency-testing (quality assessment) product sales. Sales growth was driven by increased orders from longstanding customers, with growth across multiple antigen products.

Gross margin for Q2 was 38%, down from 53% in 2017, with the decline due to a recently-emerged yield-control issue with the conventionally-produced viral antigen intended to be replaced with bioreactor product now that upgrades to facilities are complete. While steps are being taken to correct the yield-control issue with the old process, still tighter controls will be implemented as most production of that antigen moves to bioreactors. Therefore the financial benefits of the move to bioreactors and of the reallocation of conventional antigen production capacity remained unrealized for Q2.

Bottom-line results showed a net comprehensive loss of $342,502 for Q2, as compared to an income of $257,649 in 2017. The Q2 loss was due largely to the aforementioned yield-control issue, which cost an estimated $353,000 in margin. A further one-time charge of $128,901 was recorded in Q2  relating to director compensation via warrant re-pricing – while that action reduced dilution, its charge had to be entirely expensed in Q2, versus spread-out over a vesting period as occurs for newly-issued options.

Six Month Financial Results

For the six months ended March 31, 2018 (“H1”), revenues were $5,885,760, up by 28% from 2017. H1 provided a net comprehensive loss of $436,630, compared to $2,958,822 in 2017, of which $2,541,066 was due to effects of a debt restructuring, legal settlement and tax asset revaluation. Net of those items, the loss for the first half of 2017 was $417,757. At the end of H1, Microbix’ current ratio (current assets divided by current liabilities) was 1.5 and its debt to equity ratio (total debt over shareholders’ equity) was 0.47.

Corporate Outlook

We continue to target double-digit sales growth over the balance of fiscal 2018 and through 2019. Microbix maintains a log of open purchase orders that, along with year-to-date results, supports meaningful sales growth. Efforts to improve gross margins and profitability are ongoing, with the goal of achieving successive quarterly improvements. Additionally, work continues with regards to securing partnership agreements to advance Microbix’ Kinlytic® urokinase and LumiSort™ cell-sorting projects.

FINANCIAL HIGHLIGHTS
as at Mar.31, 2018 as at Mar.31, 2017
  Total Revenue  $                 3,000,193  $                2,646,649
  Gross Margin                     1,152,542                    1,414,994
  S,G&A Expenses                     1,044,777                        910,775
  R&D Expense                         243,514                        172,624
  Financial Expenses                         206,753                        223,946
  Net Operating Income (Loss)
(Before Debt Restructuring and Settlement Costs)
                      (342,502)                        107,649
Cash Provided (Used) by Operating Activities                         465,068                        143,721
  Cash                           91,904                          32,817
  Accounts receivable                         888,290                    1,324,816
  Total current assets                     5,842,983                    5,639,137
  Total assets                   26,865,891                  25,844,846
  Total current liabilities                     3,797,379                    5,786,309
  Total liabilities                     8,555,785                  10,255,564
  Total shareholders’ equity                   18,310,106                  15,589,282
  Current ratio                                1.54                               0.97
  Debt to equity ratio                                0.47                               0.66

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it is commercializing two such products, (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of somatic cells that can be used to enrich cell populations of interest (such as sexing semen for the livestock industry). Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings.
For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.          Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company

Microbix Shares Become Available For U.S. Investors

Microbix Reports Results For Q2 Fiscal 2020

Timing of Product Shipments Affects Results

MISSISSAUGA, May 14, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, reports results for its second quarter and first half of fiscal 2020 (“Q2” and “H1”) ended March 31, 2020, with the timing of product shipments to customers affecting Q2 results.

Management Discussion

Q2 revenues were down 32% from 2019, which had achieved record results for a fiscal second quarter. The year-over-year decline was largely due to the timing of customer orders and delivery schedules. In 2020, deliveries to three major customers declined for the quarter – not because of reduced demand, but due simply to the timing of orders. For those customers ordering regularly, Microbix sees sales to them resuming over coming quarters, while sales to those ordering periodically will recur in due course. Such order timing matters account for essentially all of the year-over-year reduction seen in Q2 revenues.

Gross margins for the quarter do not yet reflect the impact of the increasing utilization of Microbix’s bioreactor production of its best-selling antigen product. That benefit will begin to be reflected in results for the third quarter ending June 30, 2020 (Q3), which will be reported in mid-August. Accordingly, margins were within expectations given an ongoing mix between roller-bottle and bioreactor production of Rubella antigen – coming in at 48% for H1 versus the 51% of the prior year.

For the balance of fiscal 2020, further sales growth and continuing improvements to gross and net margins are targeted and expected – driven by product mix and efficiency gains. Microbix remains committed to improving its operational and financial strength and thereby driving share price appreciation.

Second Quarter Financial Results

Q2 revenue was $2,874,496, a 32% decrease from Q2 2019 revenues of $4,253,629.  Included were antigen revenues of $2,783,809 (Q2 2019 – $4,169,272), QAPs revenues were $425,837 (Q2 2019 – $433,328) and remained primarily to the white-label “PT” segment. Revenue from royalties was $90,687 (Q2 2019 – $84,357). Q2 sales declined largely due to timing of shipments to three key customers that benefited Q2 2019. Other revenues to North America, Europe and Asia were largely as expected.

Gross margin for this quarter was 46%, down from 51% last year.  While revenues from bioreactor-produced antigen were up significantly from last year, we continued to ship Rubella antigen from conventional methods in Q2.   In addition, a Q2 sales mix skewed to weaker margin products adversely affected gross margin compared to the same period last year, which had a higher margin sales mix.

Operating expenses decreased by 8% from Q2 2019, primarily a result of decreased general administrative costs and favourable foreign exchange gains in the current quarter.

Lower sales and fewer gross margin dollars in Q2 led to an operating loss & net loss of $219,030 versus an operating income of $482,037 & net profit of $391,352 (2019).  Cash used in operations was $777,851, compared to cash used of $357,143 (2019), most of the difference from non-cash working capital changes.

During Q2 Microbix raised $2,150,159 (net of issue costs) in a private placement.  These funds will be used primarily to pay down bank debt, invest in capital equipment and provide working capital to support key growth initiatives, including the new quality assessment products to support COVID-19 testing.

First Half Financial Results

H1 revenue was $4,920,844, a 27% decrease from 2019 first-half revenue of $6,714,441.  Included were antigen and quality product revenues of $4,756,382, 27% lower than 2019.  H1 sales were impacted by timing of orders as outlined above.  Revenue from royalties were $164,462 (2019 – $178,379).Gross margin in H1 was 48%, down from 51% in fiscal 2019, due to higher margins on 2019 orders outlined above and fluctuations in the mix of products sold mix.  Seasonally low PT-oriented QAPs sales in the first-quarter of each year also act to suppress margins in the first-half of each year.

H1 Operating expenses increased by 3% from 2019, primarily due to increased investment in sales, marketing, and new product development.  Weaker H1 sales and gross margins led to a net loss of $804,295 versus a net profit of $272,056 in 2019.  Cash used by operations was $540,059, compared to cash used of $328,419 in 2019, with the increased 2020 usage due mainly to non-cash working capital accounts.

At the end of Q2, Microbix’s current ratio (current assets divided by current liabilities) was 1.87 and its debt to equity ratio (total debt over shareholders’ equity) was 0.73.

FINANCIAL HIGHLIGHTS
Three months ended March 31 Six months ended March 31
2020 2019 2020 2019
  Total Revenue  $          2,874,496  $          4,253,629  $          4,920,844  $          6,714,441
  Gross Margin               1,320,613               2,161,497               2,364,347               3,452,046
  S,G&A Expenses                  993,671               1,163,721               2,080,337               2,053,075
  R&D Expense                  277,603                  243,353                  542,952                  505,184
  Financial Expenses                  268,369                  272,386                  545,353                  531,046
 Operating Loss before Debt Restructuring,
Settlement Costs and Impairment of Assets
               (219,030)                  482,037                (804,295)                (119,296)
  Net Comprehensive Loss                (219,030)                  391,352                (804,295)                  272,056
  Net Comprehensive Loss per share                     (0.002)                       0.004                     (0.008)                       0.003
  Cash Provided (Used) by Operating Activities                (777,851)                (357,143)                (540,059)                (328,419)
  Cash                  167,730                     25,451
  Accounts receivable               1,940,135               1,854,426
  Total current assets               7,094,480               7,329,573
  Total assets            20,692,116            20,304,230
  Total current liabilities               3,822,475               5,062,014
  Total liabilities               8,743,880               9,612,020
  Total shareholders’ equity            11,948,236            10,692,210
  Current ratio                         1.86                         1.45
  Debt to equity ratio                         0.73                         0.90

Corporate Outlook

For the balance of fiscal 2020, Microbix will work to continue improving the percentage gross margins from its critical ingredients (antigens) business and achieve strong growth in sales of its lines of innovative, proprietary and branded quality assessment products (QAPs™). If Microbix achieves its budget targets, the company will generate meaningful net earnings for fiscal 2020. Additionally, work continues with regards to securing a partnership agreement to advance Microbix’s Kinlytic® urokinase project.

Adelaide Capital will host a live webinar with management, today at 11am ET. Please register here: https://us02web.zoom.us/webinar/register/WN_-LCDlkALQYmhZoyIRuJspQ. The event will also be live-streamed to YouTube Channel: https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw.

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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those referenced herein, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.          Microbix®, Kinlytic®, and QAPs™ are trademarks of the Company
Microbix Announces Quality Products Distribution Agreement

Microbix Announces Quality Products Distribution Agreement

Appointment of D.I.D. S.p.A. of Milan for Italy

MISSISSAUGA, May 12, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, announces the appointment of Diagnostic International Distribution S.p.A. of Milan (D.I.D.) as distributor of its Quality Assessment Products (QAPs™) for Italy.

Under an agreement between the parties, D.I.D. has been appointed as distributor of Microbix’s quality assessment products (QAPs™) for Italy. As distributor, D.I.D. will provide marketing, inventorying, distribution, and logistical support for use of Microbix’s QAPs by Italian clinical laboratories. At present, there are four dozen such QAPs across the PROCEEDx™, REDx™FLOQ®, and REDx™ Controls tradenames – to support whole-process accuracy of tests for bacterial and viral diseases by emulating patient samples while being consistent, non-infectious, stable, and cross-instrument compatible.

Based in Milan, D.I.D. is an Italian owned and operated life sciences distribution company that provides clinical laboratories with access to a wide range of products relating to immunological and molecular infectious disease testing. D.I.D. services approximately 1,000 customers throughout Italy and acts as a local representative for multiple leading test and reagent suppliers, including for Bio-Rad Laboratories, COPAN Italia, ELITechGroup, and Quidel, among others.

Microbix COVID-19 controls products are available in liquid format as well as on COPAN® FLOQSwabs®, which are especially familiar to Italian clinical laboratories. Additionally, Italy is one of the western countries that has largely converted cervical cancer screening programs to molecular HPV testing, making Microbix’s exceptional line of HPV test controls a great addition to D.I.D’s product portfolio.

Phil Casselli, SVP Business Development of Microbix, stated, “Italy’s northern region has been very hard hit by the coronavirus, so it is important to provide our COVID-19 controls to help its testing programs. We’re therefore honored to have D.I.D., a highly-respected company in the Italian community for many decades, representing our QAPs line of products. With the D.I.D. head office in Milan, and the leading global provider of patient sample collection swabs and media, COPAN Italia, less than an hour away, Microbix has the perfect partners to support provision of these important products to Italian testing labs.”

Enrico Maffioli, President of D.I.D., also commented, “We’re pleased to secure access to Microbix’s innovative QAPs for our laboratory customers. Of course COVID testing is of intense interest currently, but there is a need to improve and ensure accuracy of all clinical diagnostic tests. The entire portfolio of Microbix QAPs will therefore be very helpful to our many customers. Training of D.I.D. staff about QAPs is underway and we are now beginning to stock this product portfolio.”

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with sales now exceeding $1 million per month on average and approximately 80 skilled employees. 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. Distribution inquiries should be directed to sarah.sokol@microbix.com.

About Diagnostic International Distribution S.p.A. (D.I.D.)
D.I.D. is based in Milan, Italy and has annual turnover of approximately €10 million. D.I.D. has 25 employees, with all technical staff being members of the Italian Society of Clinical Microbiology. D.I.D. is accredited to ISO 9001 and was founded in 1920, originally stemming from Laboratorio Fiorini, a company specializing in sales of pharmaceuticals, Difco media, and organ extracts. D.I.D. was purchased by the family of the current owner in 1947. It is presently the longest standing diagnostic company in Italy, rewarded for its excellence in product quality and customer service.

Forward-Looking Information

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 distribution agreement or D.I.D. and COPAN Italia, the referenced product lines, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia SpA
COPAN® and FLOQSwab® are trademarks of COPAN Italia SpA

Microbix COVID-19 QAPs Now Available for U.S. Labs

Registration Enables Immediate Usage of SARS-CoV-2 Controls by U.S. Clinical Labs

MISSISSAUGA, CANADA, May 7, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, is pleased to announce U.S. availability of its SARS-CoV-2 quality assessment products (QAPs™) –  FDA registration enabling immediate usage by U.S. clinical laboratories to evaluate performance, procedures, and workflow of tests that detect SARS-CoV-2 virus, the causative agent of COVID-19 disease.

Cameron Groome, President and CEO, stated, “We’re pleased to have completed the process of registering our SARS-CoV-2 Controls to permit their sale as controls to clinical labs in the United States. Microbix will now engage with American laboratory chains, group purchasing organizations, and procurement agencies to make certain that the U.S. healthcare system can benefit from Microbix’s products that help to ensure test accuracy.”

The Microbix COVID-19 QAPs have been shown to work with multiple NAT methods used to detect the SARS-CoV-2 virus that causes COVID-19 disease, specifically tests targeting a variety of nucleic-acid targets across the genome of the virus. These Microbix products are being made available as REDx™FLOQ® SARS-CoV-2 for swabs, and as REDx™ SARS-CoV-2 for liquid aliquots.

As for all Microbix QAPs, these COVID-19 QAPs are whole-genome workflow support tools that include 100% of the genetic sequences of the virus and emulate real patient samples while being consistent, non-infectious, and stable. As such, the COVID-19 QAPs contain all known potential NAT viral targets – ensuring compatibility across current and future NATs. This broad compatibility and guaranteed utility is particularly relevant in the context of testing during a pandemic, when multiple test protocols and instrument systems are being newly-called into use.

Microbix supplies a broad range of white-labeled QAPs, including other viral respiratory pathogens, to support the proficiency testing (PT) programs of laboratory accreditation organizations in North America, Western Europe, and Scandinavia. 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™ Controls or REDx™FLOQ® brand QAPs.

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.

Forward-Looking Information

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 COVID-19 QAPs, the utility or consequences of use of the COVID-19 QAPs, references to external collaborators and regulators or regulatory processes, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
COPAN® and FLOQSwab® are trademarks of COPAN Italia SPA
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia SPA
Microbix Begins Providing COVID-19 Test Quality Products

Microbix Begins Providing COVID-19 Test Quality Products

SARS-CoV-2 Controls for Canadian Labs in Swab and Vial Formats

MISSISSAUGA, CANADA, May 6, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, announces that it has begun providing its REDx™FLOQ® SARS-CoV-2 swab-format and REDx™ SARS-CoV-2 vial format quality assessment products (QAPs™) as controls to clinical laboratories in Canada.

A first commercial run of 4,000 units was split between the REDx™FLOQ® SARS-CoV-2 swab-format and REDx™ SARS CoV-2 vial-format, with positives and negatives of each format produced. QAPs from this initial run have now been provided to public health and privately-operated clinical laboratories in Canada, and scheduled for shipment to laboratory proficiency accreditation agencies based in Canada and internationally. At a rate of usage of one positive and one negative control per 100 patient tests in clinical labs, 4,000 QAPs could help support the accuracy of 200,000 tests.

Although Microbix does not currently foresee constraints on supply of unloaded swabs or unfilled vials for this critical public health usage, ongoing production of its QAPS is subject to such supplies. Given such supplies and supporting demand, Microbix has capacity to make 5,000 units/week of room-temperature stable REDx™FLOQ® SARS-CoV-2 swab QAPs, and 10,000 units/week of REDx™ SARS-CoV-2 liquid vial QAPs. Such QAPs can be used to support the verification of new testing methods, the validation of newly-placed test instruments, training of technicians, attainment of lab proficiency accreditations, and by clinical labs for systematic quality control.  At usage of one positive and one negative per hundred tests, 15,000 units of QAPs can help ensure the accuracy of 750,000 COVID-19 tests each week.

Cameron Groome, President and CEO, stated, “We’re pleased to be able to make Microbix’s QAPs available to support the integrity of COVID-19 testing programs in Canada and for Canadian and international lab proficiency testing and accreditation. We appreciate the prompt and effective actions of Health Canada, and also thank our first-users for rapidly communicating their initial requirements. Everyone at Microbix considers it a duty and a privilege to employ our expertise to help ensure the accuracy of testing programs and thereby improve public health efforts to control this pandemic.”

These Microbix QAPs have been shown to work with multiple nucleic-acid based test (NAT) methods used to detect the SARS-CoV-2 virus that causes COVID-19 disease, specifically tests targeting a variety of nucleic-acid targets across the genome of the virus. As for all Microbix QAPs, these SARS CoV-2 (COVID-19) QAPs are whole-genome workflow support tools that include 100% of the genetic sequences of the virus and emulate real patient samples while being consistent, non-infectious, and stable. As such, the SARS-CoV-2 (COVID-19) QAPs contain all known potential NAT viral targets – ensuring compatibility across current and future NATs. This broad compatibility and guaranteed utility is particularly relevant in the context of testing during a pandemic, when multiple test protocols and instrument systems are being newly-called into use.

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, Western Europe, and Scandinavia. 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.

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.

Forward-Looking Information

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 COVID-19 QAPs, the utility or consequences of use of the COVID-19 QAPs, references to external collaborators and regulators or regulatory processes, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
COPAN® and FLOQSwab® are trademarks of COPAN Italia SPA
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia SPA
Microbix Announces Quality Products Distribution Agreement

Microbix Announces Quality Products Distribution Agreement

Appointment of R-Biopharm AG for 11 Countries

MISSISSAUGA, May 15, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, announces the appointment of R-Biopharm AG (R-Biopharm) as distributor of its Quality Assessment Products (QAPs™) in eleven (11) countries.

Under an agreement between the parties, R-Biopharm has been appointed as distributor of Microbix’s quality assessment products (QAPs™) for Australia, Belgium, Canada, France, Germany, Luxembourg, Netherlands, New Zealand, Norway, Spain, and the United Kingdom. As distributor, R-Biopharm will provide marketing, distribution, and logistical support for Microbix’s QAPs. At present, there are four dozen such QAPs across the PROCEEDx™ and REDx™ Controls tradenames – to support whole-process accuracy of tests for bacterial and viral diseases by emulating patient samples while being consistent, non-infectious, stable, and cross-instrument compatible.

Founded in 1988 and based in Darmstadt, Germany, R-Biopharm is a privately-owned biotech company with over 1,000 employees. R-Biopharm is a leading developer of test solutions for clinical diagnostics and food & feed analysis. R-Biopharm test kits offer high precision and accuracy – key requirements where patient or consumer health is at risk. It operates worldwide and has facilities in 12 countries, with dedicated teams for sales, marketing, field service supporting the clinical diagnostics sector.

R-Biopharm will provide physical distribution, sales and marketing, and technical support for the full line of Microbix QAPs. This will include Microbix’s QAPs to support the accuracy of testing for respiratory viruses such as SARS-CoV-2 (COVID-19), Flu A, Flu B, and RSV, as well as its leading-edge QAPs for high-risk types of HPV and other sexually-transmitted infections. R-Biopharm already services clinical labs conducting such testing throughout the distribution territories and is well-positioned to offer access to the full Microbix QAPs catalogue.

Phil Casselli, SVP of Sales and Business Development of Microbix commented, “We’re very pleased to have R-Biopharm become a distribution partner for our QAPs product lines. As a globally recognized diagnostic test manufacturer, they regularly meet with key personnel in hospitals and clinical labs. Our controls are a perfect complement to their product mix and their field team is well suited to deliver excellent user-training and after sales support for our growing PROCEEDx™ and REDx™ Controls product lines.”

Andreas Simons, Director of Product Management, Clinical Diagnostics for R-Biopharm stated, “We’re pleased to secure access to Microbix’s innovative QAPs for sexually-transmitted, respiratory, and gastrointestinal infections as a complementary portfolio for our laboratory customers. There is an ever-increasing need to improve the accuracy of clinical diagnostic testing that these products will help address. Training of R-Biopharm staff about QAPs is already well advanced and we are now beginning to stock this product portfolio.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales now 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. Distribution inquiries should be directed to sarah.sokol@microbix.com.

About R-Biopharm AG   

R-Biopharm AG, a privately-owned company based in Darmstadt, Germany, is a globally active biotechnology company and a leading provider of reliable test systems for clinical diagnostics, companion diagnostics, and for analyzing human food and animal feedstuffs. Since 1988, R-Biopharm has been developing innovative products characterized by top quality, reliability and efficiency. A strong sense of responsibility, long-standing experience and a network of more than twenty affiliated companies and subsidiaries in Europe, the U.S., Canada, Brazil, Latin America, China, India and Australia, as well as more than 120 distribution partners, make R-Biopharm a prime partner for clients from retail, industry and public institutions looking for answers and solutions for current and future analytical challenges. Please visit www.r-biopharm.com for more information.

 

Forward-Looking Information

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 distribution agreement or R-Biopharm, the referenced product lines, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix BioSystems Inc.
Microbix Participating In COVID-19 Virtual Conference

Microbix Participating In COVID-19 Virtual Conference

Presentation and Panel Participation at Adelaide Capital Event on April 23

MISSISSAUGA, CANADA, April 21, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, announces that it will be participating in the “Virtual COVID & Healthcare Mini Conference” being hosted by Adelaide Capital on April 23 from 12:00-5:00 PM ET.

The conference will showcase the contributions that Canadian companies are making to help fight the coronavirus pandemic. Microbix will be discussing its longstanding work in providing the biological core of many existing diagnostic tests for infectious diseases, including for multiple respiratory viruses and bacteria. Additionally, Microbix will discuss how its Quality Assessment Products (QAPs™) can help ensure the accuracy of diagnostic tests, including tests for respiratory viruses and, in particular, about its important new REDx™FLOQ® SARS-CoV-2 swab-based and REDx™ SARS-CoV-2 liquid-format QAPs.

The conference will consist of a series of 20-minute corporate presentations, a panel discussion of critical pandemic-related issues, and a keynote presentation by Mr. Eden Rahim of Next Edge Capital. Mr. Rahim is a highly-respected life-sciences portfolio manager and his presentation at the conference is entitled, “Signal from the Noise: A compass to finding COVID-19 investment opportunities.”

To attend the Virtual COVID & Healthcare Mini Conference, RSVP via hyperlink (here), or by inputting https://zoom.us/webinar/register/WN_rbV3mis6RIyQG7WFVTx2cA into your browser. The conference will also be live streamed to Adelaide Capital’s YouTube Channel (here) and a replay will also be posted. Recently, information about Microbix has been posted to the Adelaide Capital YouTube Channel and the Microbix website, including an interview on COVID-19 QAPs with Ken Hughes, COO of Microbix, and a CEO corporate Webinar presentation.

Kindly note that the conference is in support of the HandSan Project. The HandSan Project is providing free 50 to 80 mL bottles of 70 to 80% ethanol hand sanitizer to high-need individuals in the Ottawa area. Further information about the HandSan Project is available from https://handsan.ca/

Adelaide Capital is a full-service Investor Relations firm that provides a unique and powerful perspective on Canadian public companies and a re-engineered business model. Adelaide’s extensive capital markets experience allows it to go deeper, strategically assessing each client and tailoring a plan that charts the best path to business success as a publicly-listed company. Specializing in small and mid-capitalization companies, its offerings are enhanced by a truly formidable factor – personal relationships with an extensive and deeply-valued network of investors across North America and around the world.

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 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of AdCap, Next Edge, HandSan, or the conference, the COVID-19 QAPs, the utility or consequences of use of the COVID-19 QAPs, references to external collaborators and regulatory processes, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
COPAN® and FLOQSwab® are trademarks of COPAN Italia SPA
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia SPA
Microbix Attains Health Canada Establishment Licensing

Microbix Attains Health Canada Establishment Licensing

Enables Immediate Usage of SARS-CoV-2 Controls by Clinical Labs across Canada

MISSISSAUGA, CANADA, April 21, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator and exporter, announces that it has attained medical devices establishment licensing from Health Canada, enabling the immediate usage of its quality assessment products (QAPs™) by clinical laboratories, including its QAPs to help ensure the accuracy of COVID-19 disease testing.

At present, Microbix has capacity to make 5,000 units per week of room-temperature stable COVID-19 QAPs exclusively on COPAN® FLOQSwabs®, and 10,000 units per week in a liquid vial format. Such QAPs can be shipped as early as April 30 to support the verification of new testing methods, the validation of newly-placed test instruments, training of technicians, lab proficiency accreditations, and by clinical labs for systematic quality control.  By way of example, at usage of one per hundred tests, such QAPs can help ensure the accuracy of 1.5 million COVID-19 tests per week.

Cameron Groome, President and CEO, stated, “We thank Health Canada for its review and acceptance of the application provided by Microbix on April 13th. Such prompt action is precisely what is needed to get leading-edge tools like Microbix’s QAPs into the hands of Canada’s front-line healthcare providers. Microbix will now engage with procurement authorities in Ontario and other provinces and territories to make certain that Canadians can benefit from Microbix’s products that help to ensure test accuracy.”

The Microbix COVID-19 QAPs have been shown to work with multiple nucleic-acid based test (NAT) methods used to detect the SARS-CoV-2 virus that causes COVID-19 disease, specifically those targeting E, N, and RdRP genes, and on protocols requiring human RP housekeeping gene presence.  These Microbix products are being made available as REDx™FLOQ® SARS-CoV-2 for swabs, and as REDx™ SARS-CoV-2 for liquid aliquots.

As for all Microbix QAPs, these COVID-19 QAPs are whole-genome workflow support tools that include 100% of the genetic sequences of the virus and emulate real patient samples while being consistent, non-infectious, and stable. As such, the COVID-19 QAPs contain all possible NAT viral targets – ensuring compatibility across current and future NATs. This broad compatibility and guaranteed utility is particularly relevant in the context of testing during a pandemic, when multiple test protocols and instrument systems are being newly-called into use.

Microbix supplies a broad range of white-labeled QAPs, including other viral respiratory pathogens, to support the proficiency testing (PT) programs of laboratory accreditation organizations in North America and Western Europe. 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 Health Canada licensed, FDA registered, and CE mark certified REDx™ Controls or REDx™FLOQ® brand QAPs.

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 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.

Forward-Looking Information

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 COVID-19 QAPs, the utility or consequences of use of the COVID-19 QAPs, references to external collaborators and regulatory processes, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
COPAN® and FLOQSwab® are trademarks of COPAN Italia SPA
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia SPA
Hello world, a new COVID-19 EQA product!

Hello world, a new COVID-19 EQA product!

Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress. This is your first post. Edit or delete it, then start writing! Welcome to WordPress.

This is your first post. Edit or delete it, then start writing!

Microbix Attains Health Canada Establishment Licensing

Microbix & Oneworld Create COVID-19 Test Quality Program

Laboratory External Quality Assessment, Proficiency Testing, & Accreditation

MISSISSAUGA, ONTARIO and VANCOUVER, BC, CANADA, April 9, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®) and Oneworld Accuracy (1WA) announce a strategic collaboration to provide a global external quality assessment (EQA) program to support clinically-effective COVID-19 testing. Based in Canada, this program will be made available to all governments to underpin their public health responsibility to ensure accurate and reliable COVID-19 testing. In every country and more than ever, political leadership, medical professionals, and the public need to have confidence in patient test results.

This EQA program will first be launched in Canada then, as production scales, be rolled-out worldwide – likely over the next few months. Details are available online at www.microbix.com and www.1wa.org.

Microbix will provide all EQA samples for this global program, including its SARS-CoV-2 quality assessment products (QAPs™), branded as REDx™FLOQ® SARS-CoV-2 on COPAN® FLOQSwabs®, and as REDx™ Controls in liquid format. The SARS-CoV-2 QAPs provide whole-genome workflow support that includes 100% of viral genetic sequences and emulate real patient samples while being consistent, non-infectious, and stable. As such, they contain all possible nucleic-acid test (NAT) viral targets, ensuring compatibility across current and future NATs. The SARS-CoV-2 QAPs are representative of Microbix’s established catalogue of QAPs of viral and bacterial respiratory pathogens, which have years of successful global usage and are demonstrated to work across more than 20 different widely-used test formats.

Cameron Groome, CEO of Microbix commented, “This collaboration combines Microbix’s demonstrated expertise in making innovative and cross-platform EQA samples with 1WA’s leading EQA informatics and logistics expertise.  1WA’s collaborative model provides this new EQA program access to more than sixty participating governments. Alongside 1WA, we’re pleased to be able to enable a global EQA program and make a significant public health contribution to fighting the COVID-19 pandemic.”

1WA will manage all informatics and logistics for this global EQA program for the current network of governments that have adopted collaborative EQA, and for further governments that need EQA to underpin the quality of their COVID-19 testing efforts.

Daniel Taylor, CEO of 1WA also commented, “We have already begun to assemble an international scientific advisory board to optimize the design of this vital program and analyze the resulting data sets.  We believe the program and its scientific advisory board will uniquely support public health responses to the COVID-19 pandemic. In particular, the program can be readily implemented in low- and middle-income countries where COVID-19 may have a disproportionate impact. Participating governments can be made fully operational as national EQA providers with a few days by way of online training.”

About Microbix (MBX)

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 certified to ISO 9001:2015, ISO 13485:2016, and operates under U.S. FDA Establishment Registration #3007652384.

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 dissolve blood clots. Microbix is a publicly-traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

About Oneworld Accuracy (1WA)

1WA is an independent, social enterprise group headquartered in Vancouver, B.C., Canada. 1WA provides a comprehensive set of more than 200 accredited EQA programs spanning all clinical disciplines. 1WA is also a coordinator of collaborative EQA which seeks to create cost-effective, sustainable, networked EQA in all countries using 1WA’s proprietary OASYS informatics system as a shared resource. Government stakeholders including public health institutes, ministries of health, and national reference laboratories become national EQA providers on a pathway to attain their own ISO accreditation.  Upwards of 60 government stakeholders have participated in 1WA collaborative EQA to date. 1WA is accredited to ISO/IEC 17043:2010.

Forward-Looking Information

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 EQA program or COVID-19 QAPs, the utility or consequences of use of the EQA program or COVID-19 QAPs, references to external collaborators and regulatory processes, 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.

Please visit www.microbix.com or www.sedar.com for recent Microbix news and filings.

For further information from Microbix please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

For further information from Oneworld Accuracy please contact:

Daniel Taylor, CEO

dtaylor@1WA.org

(604) 657-0727

Simon Anderson, CFO

sanderson@1WA.org

 

Copyright © 2020 Microbix Biosystems Inc.     
 
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
COPAN® and FLOQSwab® are trademarks of COPAN Italia SPA
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia SPA
Galen Weston’s Message To Canadians

Galen Weston’s Message To Canadians

Hi Everyone,

Things continue to move fast and change quickly.
Earlier today the Canadian Government announced they are restricting our international borders to limit the impact of COVID-19. As each of us try to understand how that will affect our daily lives, our friends, and our families, I wanted to reach out again.
Microbix Announces Annual And Special Meeting Voting Results

Microbix Announces Annual And Special Meeting Voting Results

TORONTO, April 2, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces the voting results from the Annual and Special Meeting of Shareholders (the “Meeting”) that was held on March 28, 2018.

At the Meeting, 42.78% of the issued and outstanding shares were represented. A majority of shareholders voted in favour of all resolutions brought before the Meeting. Details of all resolutions that were voted upon are set out in the Management Information Circular (the “Circular”) dated February 9, 2018. The Circular is available on the Company’s website (www.microbix.com) and on SEDAR (www.sedar.com).

All of the board of directors nominees listed in the Circular were re-elected as directors of Microbix. Results of the vote were as follows:

Nominee Votes For % Votes For Withheld % Withheld
Peter M. Blecher 36,562,282 99.95% 19,200 0.05%
Mark A. Cochran 36,559,982 99.94% 21,500 0.06%
Vaughn C. Embro-Pantalony 36,467,482 99.69% 114,000 0.31%
William J. Gastle 36,463,782 99.68% 117,700 0.32%
Cameron L. Groome 36,464,782 99.68% 116,700 0.32%
Martin Marino 36,562,282 99.95% 19,200 0.05%
Joseph D. Renner 36,560,982 99.94% 20,500 0.06%

In addition, shareholders also approved a resolution re-appointing the Company’s auditors, Ernst & Young LLP with 99.93% of the votes cast in favour, the adoption of a new 10% rolling stock option plan in replacement of the Company’s existing fixed number stock option plan with 95.20% of the votes cast in favour of; and amendments to certain warrants held by an Insider of the Company with 88.56% of the disinterested votes cast in favour.

The slides of management’s presentation at the Meeting have been posted at www.microbix.com

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well- being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and

technologies. Currently it is commercializing two such products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward- looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings. For further information, please contact:

Cameron Groome, CEO(905) 361-8910 Jim Currie, CFO(905) 361-8910 Deborah Honig, Investor RelationsAdelaide Capital Markets(647) 203-8793 ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.         Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company

Microbix Creates Quality Assessment Product For COVID-19 Tests

Microbix Creates Quality Assessment Product For COVID-19 Tests

Whole-genome QMS Support Tool on COPAN® FLOQSwabs®

MISSISSAUGA, CANADA, March 30, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®) announces the creation, verification, and imminent commercial availability of a quality assessment product (QAP™) to help ensure the accuracy of COVID-19 disease testing.

By creating this unique product, Microbix is contributing to the development of new methods and improved methods for SARS-CoV-2 virus (COVID-19) detection and is helping to improve the accuracy of existing protocols by providing reliable, whole-genome validation/verification and training samples.

Microbix currently has capacity to make five-thousand (5,000) units per week of room-temperature stable COVID-19 QAPs exclusively on COPAN® FLOQSwabs®, with a liquid-format COVID-19 QAP also available. Such QAPs can be shipped immediately to support the verification of new testing methods, the validation of newly-placed test instruments, the training of technicians, and the attainment of laboratory proficiency accreditations. Further regulatory authorizations will be sought on an emergency-use basis, and when granted, will permit the release of IVD-labeled versions of Microbix’s COVID-19 products for ongoing quality management system (QMS) support of clinical laboratories.  By way of example, at usage of one per hundred tests, such QAPs would help ensure the accuracy of 500,000 COVID-19 tests per week.

Cameron Groome, President and CEO, stated, “We’re pleased to be able to immediately offer assistance to health professionals in the global fight against this recently-emerged pandemic. Microbix is grateful to our staff and external collaborators for their work in creating and validating this essential product so quickly. We also want to provide a message of heartfelt thanks and support to our friends at COPAN Italia, who are enduring so much while working 24/7 to provide their vital sample collection swabs to hospitals and labs around the world.”

This new and innovative Microbix product has been shown to work with nucleic-acid based test (NAT) methods used to detect the SARS-CoV-2 virus that causes COVID-19 disease, specifically that published by the U.S. Centers for Disease Control (run at MBX) and of Seegene, Inc. (Allplex™ 2019-nCoV assay, run externally at KoronaDx). Microbix will now file for emergency-use authorizations from Health Canada, the U.S. Food and Drug Administration (FDA), and other regulatory authorities, while concurrently conducting further external verifications across more of the test platforms now in use.  Once authorizations are received, the products will be made available as REDxFLOQ™ SARS-CoV-2 for swabs and as REDx™ Control SARS-CoV-2 for liquid aliquots.

As for all Microbix QAPs, this COVID-19 product is a whole-genome workflow support tool that includes 100% of the genetic sequences of the virus and emulates real patient samples while being consistent, non-infectious, and stable. As such, it contains all possible NAT viral targets – ensuring compatibility across all current and future NATs. This broad compatibility and guaranteed utility is particularly relevant for External Quality Assurance Programs that assess and ensure the performance of testing labs.

Microbix supplies a broad range of white-labeled QAPs, including other viral respiratory pathogens, to support the proficiency testing (PT) programs of laboratory accreditation organizations in North America and Western Europe. 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 FDA-registered and CE mark certified REDx® Controls brand QAPs.

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 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.

Forward-Looking Information

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 COVID-19 QAP, the utility or consequences of use of the COVID-19 QAP, references to external collaborators and regulatory processes, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix Biosystems Inc.
COPAN® and FLOQSwab® are trademarks of COPAN Italia SPA
Allplex™ is a trademark of Seegene, Inc.
Microbix Annual General Meeting Process Update

Microbix Annual General Meeting Process Update

Remote Access to the AGM Provided to Avoid Physical Attendance

MISSISSAUGA, March 25, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices that help ensure test accuracy, provides an update about its Annual General Meeting (“AGM”).   The AGM will still be held on March 31, 2020 at 1:00 pm, however due to the closure of our planned venue and alternative venues, we will be proceeding with access being provided online or via teleconference only.

Due to the COVID-19 pandemic, Microbix also wants to avoid the need for in-person attendees at this year’s AGM, a goal enabled by setting-up an online link to allow shareholders to listen to the AGM and view a CEO presentation.  Microbix will also provide a teleconference number, so that shareholders without up-to-date computer access can listen-in by telephone.  Details for these modes of remotely attending the AGM will be provided on our website www.microbix.com by end of day Friday, March 27, 2020.

It should be noted that there will be no online voting at the AGM. Microbix therefore reminds shareholders to vote in advance as outlined in the Notice and Access Letter previously sent. The deadline for voting or receiving proxies in relation to this year’s AGM is Friday, March 27, 2020 at 5:00 pm ET. Voting results for the resolutions to be considered by shareholders will be announced by news release following the AGM.

Microbix regrets that shareholders may not attend this year’s AGM in-person.  However, as a virology company, we are very cognizant of the risks of COVID-19 and want to help ensure the health and safety of our shareholders and our staff.

Lastly, Microbix’s business is considered essential to public health in Canada and internationally, so it intends to remain fully operational during this crisis. In so doing, Microbix has the overwhelming support of its many customers and its staff, for whom measures are being taken to maximize their safety.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with sales usually exceeding $1 million per month and approximately 80 skilled employees. 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, train lab personnel, 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 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.

Forward-Looking Information

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 AGM and its logistics, essential business designation or operational status, financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those referenced herein, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.          Microbix®, Kinlytic®, and QAPs™ are trademarks of the Company
Microbix Announces Quality Products Distribution Agreement

Microbix Announces Quality Products Distribution Agreement

Appointment of Alpha-Tec Systems, Inc. for the United States

MISSISSAUGA, June 4, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an award-winning life sciences innovator and exporter, announces the appointment of Alpha-Tec Systems, Inc. (Alpha-Tec), a Calibre Scientific Inc. firm, as distributor of its Quality Assessment Products (QAPs™) for the United States.

Under an agreement between the parties, Alpha-Tec will provide physical distribution, sales and marketing, and technical support for the entire range of Microbix’s QAPs – including its whole-genome controls for molecular testing for COVID-19 disease (caused by the SARS-CoV-2 virus) that are compatible with commercial lab instrument, lab-developed manual, and point-of-care based test systems. Notably, Microbix’s REDx™FLOQ® SARS-CoV-2 is the only RT-PCR test control available on a COPAN® FLOQSwab® – enabling ambient-temperature shipping and storage to maximize user convenience, while also supporting workflow from patient-sample receipt through to readout. More broadly, there are four-dozen such QAPs across the PROCEEDx™, REDx™ Controls, and REDx™FLOQ® tradenames – to support whole-process accuracy of tests for bacterial and viral diseases by emulating patient samples while being consistent, non-infectious, stable, and cross-instrument compatible.

Alpha-Tec was founded in 1979 and in 2017 joined Calibre Scientific Inc., a family of companies that provide reagents, tools, instruments, and other consumables that address unique needs of the laboratory research, diagnostics, industrial, and biopharmaceutical industries in over 50 countries.  Alpha-Tec has developed intimate relationships with the clinical laboratory market across the United States, including with independent chains, hospitals, diagnostics companies, and research institutions. Alpha-Tec has a highly-engaged customer base for its range of products that support bacteriology, mycobacteriology, mycology, and parasitology. Microbix’s QAPs line is a complimentary addition to an Alpha-Tec portfolio that already consists of its QC1 line of validation tools for traditional microbial pathogen testing. The combination is expected to be needed and well-received by its existing customer base.

Phil Casselli, SVP of Sales and Business Development of Microbix commented, “The United States has the potential to become the largest market for our QAPs, so we’ve sought to find the right distribution partner. We’re therefore pleased to have established this relationship with Alpha-Tec. Our COVID-19 and HPV REDx QAPs are now available for the U.S., and Alpha-Tec has the team and relationships needed to make certain Microbix’s QAPs become widely used by healthcare organizations throughout the country.”

Chris Williams, General Manager of Alpha-Tec, also commented, “The COVID-19 pandemic has made everyone far more aware of the potentially grave consequences of inaccurate testing for infectious diseases. We believe that products which help labs avoid both false-negative and false-positive results are very much needed. We’re therefore very pleased to be able to provide Microbix’s innovative test controls to our clinical laboratory and hospital customers, certainly for COVID-19 but equally for Microbix’s other current or emerging QAPs.”

About Microbix Biosystems Inc.

Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and sales now 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 laboratory and point-of-care diagnostic tests. 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 22 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. 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. Distribution inquiries should be directed to sarah.sokol@microbix.com.

About Alpha-Tec Systems, Inc.
Alpha-Tec is a scientific leader in the development of superior diagnostics for clinical microbiology laboratories. The company designs and manufactures innovative reagents for the pre-analytical processing and diagnosis of infectious diseases – primarily in the fields of mycobacteriology (e.g., Mycobacterium tuberculosis) and parasitology (e.g., Giardia duodenalis). Laboratories worldwide attain increased sensitivity, precision, and accuracy through the use of Alpha-Tec products.

Forward-Looking Information

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 distribution agreement or Alpha-Tec and its affiliates, the referenced product lines, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.     
Microbix®, Kinlytic®, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of Microbix BioSystems Inc.
REDx™FLOQ® is a trademark of Microbix Biosystems Inc. in cooperation with COPAN Italia S.p.A.
COPAN® and FLOQSwab® are trademarks of COPAN Italia S.p.A.
Microbix Announces Issuance Of Stock Options

Microbix Announces Issuance Of Stock Options

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.”

About Microbix

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.

Forward-Looking Information

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 ir@microbix.com

Microbix Reports Results For Q1 Fiscal 2020

Microbix Reports Results For Q1 Fiscal 2020

Positive Cash Flow from Operations Achieved

MISSISSAUGA, February 13, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices that help ensure test accuracy, reports results for its first quarter of fiscal 2020 (“Q1”) ended December 31, 2019, with positive cash flow from operations (“CFO”) and seasonally weak sales.

Management Discussion

Microbix regularly has its weakest quarterly sales in its fiscal first quarters, due to their seasonally being few shipments of its proficiency-testing (“PT”) oriented quality assessment products (“QAPs”™). Q1 was no exception, with sales further reduced year-over-year due to the timing of antigen shipments. However, positive CFO of $237,792, was achieved even in the face of low quarterly sales – for a CFO improvement of $209,067 over the corresponding quarter of fiscal 2019.

For fiscal 2020, further sales growth and continuing improvements to gross and net margins are targeted and expected. Microbix remains committed to improving its operational and financial strength and thereby driving share price appreciation.

First Quarter Financial Results

Total Q1 revenue was $2,046,348, a 17% decrease from 2019 first quarter revenue of $2,460,812.  Included were antigen product revenues of $1,972,578 (Q1 2019 – $2,366,790), QAPs revenues of $26,114 (Q1 2019 – $6,044), and revenue from royalties of $73,775 (Q1 2019 – $94,022).  Q1 sales were principally to antigen customers in North American and Europe and were across multiple customers and products.

Gross margin for Q1 was 51%, largely flat versus 52% in the first quarter of fiscal 2019. Margin improvements from increasing sales of bioreactor-produced antigen were overshadowed by product mix fluctuations. Seasonally low PT-oriented QAPs sales in the first quarter each year also suppressed margins, although non-PT QAPs led to overall Q1 segment sales growth of 432% year-over-year.

Operating expenses for Q1 increased by $219,154 from 2019, due to further investment in QAPs sales, marketing and business development, and foreign exchange losses incurred in the current quarter.   Combined with low Q1 sales, a net loss of $585,265 was reported in Q1, versus a prior year first quarter net loss of $119,296. As stated earlier, CFO improved for Q1 over the prior year, to positive $237,792, and Microbix remains operationally stable. The Company’s financial position was further improved as a result of the proceeds of the non-brokered private placement financing of $2,355,000 that it completed subsequent to Q1, as announced on January 31, 2020.

Corporate Outlook

For fiscal 2020, Microbix will work to continue improving the percentage gross margins from its critical ingredients (antigens) business and achieve strong growth in sales of its lines of innovative, proprietary and branded quality assessment products (QAPs™). If Microbix achieves its budget targets, the company will generate meaningful net earnings for fiscal 2020. Additionally, work continues with regards to securing a partnership agreement to advance Microbix’s Kinlytic® urokinase project.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with sales usually exceeding $1 million per month and approximately 80 skilled employees. 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, train lab personnel, 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 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.

 

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those referenced herein, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.          Microbix®, Kinlytic®, and QAPs™ are trademarks of the Company
Annual General Meeting (AGM) – March 31st, 2020 UPDATE!

Annual General Meeting (AGM) – March 31st, 2020 UPDATE!

The AGM will still be held on March 31, 2020 at 1:00 pm, however due to the closure of our planned venue and alternative venues, we will be proceeding with access being provided online or via teleconference only.

Due to the COVID-19 pandemic, Microbix also wants to avoid the need for in-person attendees at this year’s AGM, a goal enabled by setting-up an online link to allow shareholders to listen to the AGM and view a CEO presentation. Microbix will also provide a teleconference number, so that shareholders without up-to-date computer access can listen-in by telephone. Details for these modes of remotely attending the AGM will be provided on our website www.microbix.com by end of day Friday, March 27, 2020.

Click here for INFO CIRCULAR

Click here for PROXY

Microbix Completes Non-Brokered Private Placement Of $2.3 Million

Microbix Completes Non-Brokered Private Placement Of $2.3 Million

TORONTO, October 19, 2017 – Microbix Biosystems Inc. (TSX: MBX) (“Microbix” or the “Company”), a developer and marketer of biological products and technologies, announces that it has completed a brokered private placement financing totaling $2.33 million dollars, resulting in the issue of 7,784,500 million units (“Units”) at a price of $0.30 per unit.

Each Unit consists of one common share (“Common Share”) of Microbix and one-half of one warrant to purchase one Common Share. Each whole warrant (“Warrant”) entitles the holder to purchase one additional Common Share at a price of $0.36 per Common Share for three years.

The proceeds of the private placement will be used to fund upgrades to production facilities such as additional bioreactor equipment, support the commercialization of quality assurance or proficiency control products and provide further working capital.

Cameron Groome, President and CEO of Microbix, commented, “We see strong growth in demand for Microbix’ antigen and control products. This private placement financing will help ensure that we meet the needs of our customers and create greater value for shareholders.”

Dominick Capital Corporation (“Dominick”) acted as lead agent in connection with the private placement. Dominick and its selling group members received cash commission of $153,675 and an aggregate of 512,248 agent warrants (the “Agent Warrants”). Each Agent Warrant entitles the holder to purchase one Common Share at a price of $0.335 per Common Share for two years.

All securities issued under the private placement will be subject to a hold period expiring four months and one day from the date of closing. The private placement was carried out pursuant to prospectus exemptions and is subject to final acceptance by the TSX.

Directors and officers of the Company (collectively, the “Insiders”) subscribed for an aggregate of 416,665 Units, for gross proceeds of $125,000. The participation of Insiders in the private placement constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and the policies of the TSX. The Company is relying on the exemptions from the formal valuation and minority approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the private placement by Insiders will not exceed 25% of the fair market value of the Company’s market capitalization. The Company did not file a material change report at least 21 days prior to the completion of the private placement since the existence of any placement or Insiders’ participation therein was not determined at that time.

About Microbix

Microbix Biosystems Inc. develops and commercializes proprietary biological and technology solutions for human health and wellbeing. Microbix manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assurance and proficiency testing controls. The company also applies its biological expertise to develop other innovative and proprietary technologies and products. Its development pipeline currently includes two such proprietary products: (1) Kinlytic® Urokinase, a biologic thrombolytic drug used to treat blood clots, and (2) LumiSort™, a technology 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 is based in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the planned uses of proceeds of the described private placement, trends in product demand or planned capacity increases or projects, financial results and stability, Microbix’ biologicals business and its new product lines, 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 ir@microbix.com

Microbix Shares Become Available For U.S. Investors

Microbix Reports Results For Fiscal 2019

Full-Year Sales of $13.4 Million, Progress Toward Sustained Profitability

MISSISSAUGA, December 20, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices that help ensure test accuracy, reports results for its fiscal year (“2019”) and fourth quarter (“Q4”) ended September 30, 2019, with stronger sales and progress toward its operational goals.

Management Discussion

In 2019, Microbix advanced upon its goal of sustained profitability, achieving record sales of $13.4 million and improving its gross margin, operating earnings and cash provided by operations.

For fiscal 2020, further sales growth and continuing improvements to gross and net margins are expected. Microbix remains committed to improving its operational and financial strength and thereby driving share price appreciation.

12 Month Financial Results

2019 full-year revenue was $13,412,341, a 7% increase from 2018 revenue of $12,510,558.  Included were antigen and quality product revenues of $13,067,727, 7% higher than 2018.  Sales were strong across multiple customers in North America and Europe and several of our key products.  Revenue from royalties were $344,614 (2018 – $319,201).

Percentage gross margin for 2019 was 49%, up from 43% in 2018, with the improvement due to resolution of yield control issues and favourable changes to product mix.

Operating expenses increased by 6% in 2019, primarily a result of increased investment in sales and marketing and $135,000 of financing expenses which had been capitalized in prior years.  In 2019, stronger sales and gross margins led to an operating income of $43,681 versus an operating loss of $742,808 in 2018, and a net income of $31,918 versus a net loss of $8,621,566 in 2018 (that included an asset write-down).  Cash provided by operations (“CFO”) was $44,368 in 2019, compared to cash used of $537,005 the prior year.

Fourth Quarter Financial Results

Total Q4 revenue was $3,587,285, a 6% increase from 2018 fourth quarter revenue of $3,389,574.  Included were antigen and quality product revenues of $3,503,268 (2018 – $3,308,913) and revenue from royalties of $84,017 (2018 – $80,661).  Q4 sales were principally to antigen customers in North American and Europe and were across multiple customers and products.

Gross margin for Q4 was 44%, up from 41% in Q4 of fiscal 2018, with the increase due to the mix of products sold and improvement in margin for a key product.  Revenues from bioreactor-produced antigen were lower than expected, due to a delay in the conversion of a key customer that was resolved in Q4, and that will affect fiscal 2020 sales mix with expected benefits to percentage gross margin.

Operating expenses for Q4 increased by $22,286 from 2018, due to further investment in sales and marketing and debenture interest costs that were previously capitalized.   As a result, a net loss of $48,816 was reported in Q4, versus a prior year net loss of $8,185,894 that included an asset write-down (a Q4 2018 net loss of $307,136, without that asset charge). Cash provided by operations (“CFO”) in Q4 was $574,570 (primarily due to increased gross margins), compared to $349,783 in Q4 2018.

Corporate Outlook

For fiscal 2020, Microbix will work to continue improving the percentage gross margins from its critical ingredients (antigens) business and achieve strong growth in sales of its lines of innovative, proprietary and branded quality assessment products (QAPs™). If Microbix achieves its budget targets, the company will generate meaningful net earnings for fiscal 2020. Additionally, work continues with regards to securing a partnership agreement to advance Microbix’s Kinlytic® urokinase project.

About Microbix Biosystems Inc.

Microbix develops proprietary biological solutions for human health and well-being, with sales averaging over $1 million/month and 75 skilled employees. It makes a wide range of critical materials for the global diagnostics industry, notably antigens for immunoassays and 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 also applies its biological expertise and infrastructure to create other proprietary new products and technologies. Currently it is has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of cells or other particles.

Microbix is a publicly-traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those referenced herein, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.          Microbix®, Kinlytic®, LumiSort™, and QAPs™ are trademarks of the Company
EUROGIN 2019

Microbix Invited To Present Product Results At HPV Congress

IVD Controls Data at EUROGIN, December 4-7, 2019

MISSISSAUGA, December 2, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices that help ensure test accuracy, announces it has been invited to present the performance of its in-vitro diagnostics (IVD) quality products “IVD Controls” at EUROGIN 2019, the annual congress of the European Research Organization on Genital Infection & Neoplasia.

At EUROGIN, Microbix will be exhibiting alongside leading IVD and pharmaceutical companies working on prevention and detection of Human Papilloma Virus (HPV) infection. The majority of sexually-active adults are infected with one or more types of HPV and the high-risk variants of the virus are a well-known and common cause of multiple human cancers. Tests to establish whether individuals are infected with a high-risk type of HPV provide important health information and require validated, regulated, and third-party IVD Controls to help ensure their accuracy. Microbix has created IVD Control products that support tests for high-risk HPV types 16, 18, & 45, and cleared them for sale in both the European Union (via CE mark) and the United States under its REDx™ Controls brand name.

Microbix will also review the performance of those novel, proprietary, and branded IVD Controls to support quality control of nucleic acid amplification tests (NAATs) for high-risk types of HPV. Its presentation is entitled “Novel Cross-Platform High-Risk (HR) HPV NAAT Positive Controls for Use in L1 and E6/E7 Targeted Nucleic Acid (DNA and RNA) Detection Methods” and establishes that Microbix’s REDx Controls for HPV tests contain all required diagnostic targets, support all test steps, and are compatible across the leading NAAT testing instrument platforms. A well-designed IVD Control should work with any test equipment, just like a patient sample. Microbix believes its REDx Control results support the quality objectives of clinical labs testing for high-risk HPV infections, will assist with the provision of effective healthcare globally, and represent meaningful new revenue opportunities.

This scientific “poster” was authored by Microbix’s development team, provides new performance results in a complete and succinct fashion, and is being presented by its Director of Quality Assessment Products (QAPs™), Pavel Zhelev, supported by its SVP of Sales & Business Development, Phillip Casselli. The full poster will be made available on the company website (www.microbix.com) and by EUROGIN following its presentation and includes Microbix’s thankful acknowledgement of its collaborators.

Microbix’s REDx Controls, are highly representative of patient samples, provide safe and reliable means of monitoring the laboratory workflow and performance accuracy of complex medical tests and, where relevant, work across both immunologic and NAAT test methods.  Microbix’s QAPs are provided to (i) laboratory accreditation organizations to support their proficiency testing programs, (ii) test makers to support product development, instrument validation and technician training, and (iii) clinical laboratories, as regulated medical devices to support their quality management systems.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with sales now exceeding $1 million per month and 80 skilled employees. 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 also applies its biological expertise and infrastructure to create other proprietary new products and technologies. Currently it is has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of cells or other particles.

Microbix is a publicly-traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

About EUROGIN

Started in 1993 as a congress where scientific progress and clinical practice converge, EUROGIN shares translational research with an international scientific community, aiming at accelerating the reduction of the burden of HPV-related cancers and their mortality. The EUROGIN Educational Platform on HPV-Associated Cancers offers a high standard of scientific contents provided by top international experts to extend knowledge and share experience, for the purposes of advancing science and translational research, as well as ensuring best clinical practices.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of EUROGIN and the results presentation, the content, meaning or consequences of the results presentation, 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.

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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.      Microbix®, Kinlytic®, LumiSort™, QAPs™ and REDx™ Controls are trademarks of the Co.
Microbix Announces Issuance Of Stock Options

Microbix Wins Ontario Business Award

2019 “OBAA” for Excellence in Export Strategy

MISSISSAUGA, November 18, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices (QAPs™) that help ensure test accuracy, announces it has been awarded the “Beyond Borders” Ontario Business Achievement Award (OBAA) for 2019 by the Ontario Chamber of Commerce (OCC).

The award was presented at the OCC OBAA gala the evening of November 14 and recognizes success in developing and implementing innovative export strategies that positively drive its business.  Microbix was also runner-up in OCC’s “Excellence in Innovation” category.  Over 95% of Microbix’s sales are exports, directed principally to the United States, European Union, and Asia-Pacific markets.  In 2019, Microbix completed scale-up of a novel, bioreactor-based technology for production of a critical “native antigen” ingredient. It has also succeeded in registering its first QAPs as medical devices in the United States and the European Union. Under the PTDx™, PROCEEDx™ and REDxTM Controls brands, its QAPs are being offered to international laboratory accreditation organizations, test makers, and clinical laboratories.

Microbix’s critical ingredients enable the production of tests that detect the level of patients’ antibodies to infectious diseases. Results of such tests provide medically-important information concerning exposure to, and immunity to, relevant pathogens. Microbix supplies such ingredients (native antigens) to over 100 multinational companies that make such “immunodiagnostic” tests.

Additionally, Microbix creates quality assessment products (QAPs) containing both native antigens and intact nucleic-acids.  Regulated as medical devices, QAPs provide safe and reliable means of supporting the calibration and accuracy of complex medical tests – across both the immunologic and molecular diagnostic categories.  Microbix’s QAPs are provided to laboratory accreditation organizations to support their proficiency testing programs, to test makers to support product development, instrument validation and technician training, and to clinical laboratories to support their quality management systems.

Ken Hughes, COO and Mark Luscher, SVP of Scientific Affairs, attended the event and comment on behalf of Microbix: “We greatly appreciate this OBAA award from the Ontario Chamber of Commerce. It is very gratifying that the progress we’ve made at Microbix is being recognized by our peers.  As always, we thank all that support us, including our employees, customers, suppliers, financial partners, the City of Mississauga, the Province of Ontario, and the Government of Canada.”

The OCC mission is to advocate for growth and prosperity on behalf of its 60,000 Ontario members. Its vision is to foster a vibrant and economically-sustainable province that is driven by an innovative, successful, and ever-expanding business community. The OCC represents chambers of commerce and boards of trade in communities across Ontario and steers policy conversations provincially and locally.

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with sales now exceeding $1 million per month and 80 skilled employees. 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 also applies its biological expertise and infrastructure to create other proprietary new products and technologies. Currently it is has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of cells or other particles.

Microbix is a publicly-traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

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 OCC and OBAA,  the actuality, meaning or consequences of any award, 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.

Please visit www.microbix.com or www.sedar.com for recent Microbix news and filings.

For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 ir@microbix.com

Microbix Announces Issuance Of Stock Options

Microbix Presenting At StableView TECH19 Conference

Meetings with Growth-Oriented Investors, October 3, 2019

MISSISSAUGA, October 1, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of clinical diagnostic materials and quality control medical devices, announces that it will be presenting to investors about Microbix at the StableView TECH19 conference, organized by StableView Asset Management and being held at the Arcadian Court event venue in Toronto, ON, October 3, 2019.

Microbix’s CEO, Cameron Groome, will make a corporate presentation and, with COO Ken Hughes and CFO Jim Currie, will undertake a series of one-on-one meetings with growth company investors during the conference. Microbix’s presentation slides have been posted to the company website at www.microbix.com, along with other business information and its financial disclosures.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being, with sales now exceeding $1 million per month. It manufactures 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 laboratory proficiency testing, enable assay development and validation, or help ensure quality control of clinical diagnostic tests as fully-regulated medical devices. Microbix antigens and QAPs are sold to many customers worldwide, at present primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create other proprietary new products and technologies. Currently it is has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of cells or other particles.

Microbix is a publicly-traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

 About StableView Asset Management and the Conference

StableView Asset Management (StableView) is a full-service asset and wealth management firm that caters to individual clients and institutional investors. Its investment process focuses on the preservation of wealth and capital, paying as little as possible for investments, reducing risk, and increasing returns. StableView was founded in 2012 and has held an investor conference annually since 2014. Further information about StableView and the TECH19 conference is available from its website at https://stableview.ca.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of StableView Asset Management and its conference, 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, 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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.          Microbix®, Kinlytic®, LumiSort™ and QAPs™ are trademarks of the Company
Microbix Presenting At Muskoka Capital Conference

Microbix Presenting At Muskoka Capital Conference

Meetings with Growth-Oriented Investors, September 27-29, 2019

MISSISSAUGA, September 25, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of clinical diagnostic materials and medical devices for test quality control, announces that it will be presenting to investors about Microbix at the Muskoka Capital Conference, organized by Capital Event Conferences and being held at the JW Marriott Rosseau Muskoka, in Minett, ON, September 27-29, 2019.

Microbix’s CEO, Cameron Groome, will undertake a series of 18 one-on-one meetings with growth company investors during the formal portion of the conference. The presentation slides to which he will be speaking have been posted to the Microbix website at www.microbix.com, along with other business information and its financial disclosures.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being, with sales now exceeding $1 million per month. It manufactures 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 laboratory proficiency testing, enable assay development and validation, or help ensure quality control of clinical diagnostic tests as fully-regulated medical devices. Microbix antigens and QAPs are sold to many customers worldwide, at present primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create other proprietary new products and technologies. Currently it is has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of cells or other particles.

Microbix is a publicly-traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

About Capital Event Conferences and the Event

Capital Event Conferences produces seven investor events per year, across North America and in the Bahamas. Attendees include leading public and private companies, and a range of investors consisting of large book brokers, fund managers, and high net worth investors. Capital Event’s unique event formats aim to allow principals to establish new and lasting relationships that lead to financings, open market support, and increased awareness within the investment community. Further information about the Muskoka event is available from its website at www.capitalevent.ca.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of Capital Event Conferences and its conferences, 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, 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

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.          Microbix®, Kinlytic®, LumiSort™ and QAPs™ are trademarks of the Company
Microbix COVID-19 QAPs™ Now Available For U.S. Labs

Microbix Quality Products Enter U.S. Market

Four IVD Controls to Support Performance of Human Papilloma Virus (HPV) Tests

MISSISSAUGA, September 19, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, is pleased to announce U.S. availability of four innovative in-vitro diagnostic (IVD) control products for evaluating performance, procedures, and workflow of laboratory tests that detect and type HPV nucleic acids (DNA or RNA) in various human tissue samples.

HPV is a family of more than 100 closely-related viruses, commonly described as “types,” of which one or more are carried by most sexually-active adults. Over a dozen HPV types have been linked to development of cancers and are therefore classified as high-risk. Infections with high-risk HPV types are leading causes of cervical, penile, anal, oral, and throat cancers. Cervical cancer screening has historically relied on pathology-based testing (i.e., the “PAP” test), but no such program exists for other HPV-driven cancers.  Additionally, reliance on the newer technology of nucleic acid (NA) HPV testing is hampered by a lack of fully-adequate sample controls to help ensure accurate positive or negative test results. Microbix’s IVD control products aim to address that need by supporting the tens of millions of HPV tests already conducted annually in the United States and helping to enable greater usage of such testing.

Microbix has registered with the U.S. Food and Drug Administration (FDA) in compliance with Code of Federal Regulations 21, Part 807, thereby permitting the sale of its REDx™ HPV 16, 18 and 45 Positive Controls, and its REDx™ HPV Negative Control within the United States and its territories. Going forward, Microbix intends to broaden its IVD REDx™ Controls line to include additional high-risk HPV types, as well as other species of pathogens.

These Microbix REDx™ Controls will address the quality systems needs of clinical laboratories conducting NA testing for HPV typing. U.S. marketing will be directed to the 34,000 clinical laboratories certified or accredited under the U.S. “CLIA” regulations. Microbix expects to sell directly to the largest chains of labs, with support from distributors for other lab customers. Microbix will be represented at two upcoming industry events – the European Meeting on Molecular Diagnostics (EMMD) in the Netherlands (October 9 to 11, 2019), and the MEDICA Trade Fair in Germany (November 18 to 21, 2019).

Microbix is a leading white-label provider of materials that support the proficiency testing (PT) programs of laboratory accreditation organizations. In 2018, its offerings were extended to support the validation, verification and training objectives of test and instrument makers, with its branded PROCEEDx™ product line. ISO 13485 quality certification and the registration of innovative IVD controls for use by clinical laboratories is further broadening its market access, with such products offered under its REDx™ Controls trade name. All Microbix’s quality assessment products (QAPs™, including its EQA/PT products, PROCEEDx™ line, and REDx™ Controls line) are listed on the company website at www.microbix.com.

About Microbix Biosystems

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably its antigens for use in immunoassays and its quality assessment products (QAPs™). Microbix’s products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of cells or other particles. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Contact Information for Laboratory and Distributor Enquiries

Sarah Sokol – Distributor Support Specialist

001-905-361-8910 X 245, sarah.sokol@microbix.com

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of its U.S. registration or regulatory compliance, HPV and its quality products, the outlook for the business or its markets, the risks associated with its financial results and stability, its technologies or their expected benefits, actions of its customers, its antigens and quality products businesses, 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.

Please visit www.sedar.com for recent Microbix filings.
For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
905-361-8910

Jim Currie, CFO
905-361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
647-203-8793, ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.         
Microbix®, Kinlytic®, LumiSort™, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of the Company
Microbix Quality Products Attain European Registration

Microbix Quality Products Attain European Registration

Four IVD Controls to Support Performance of Human Papilloma Virus (HPV) Tests

MISSISSAUGA, September 5, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, is pleased to announce European registration for four innovative in-vitro diagnostic (IVD) control products for evaluating performance, procedures, and workflow of laboratory tests that detect and type HPV nucleic acids (DNA or RNA) in various human tissue samples.

HPV is a family of more than 100 closely-related viruses, commonly described as “types,” of which one or more are carried by most sexually-active adults. Over a dozen HPV types have been linked to development of cancers and are therefore classified as high-risk. Infections with high-risk HPV types are leading causes of cervical, penile, anal, oral, and throat cancers. Cervical cancer screening has historically relied on pathology-based testing (i.e., the “PAP” test), but no such program exists for other HPV-driven cancers.  Additionally, reliance on the newer technology of nucleic acid (NA) HPV testing is hampered by a lack of fully-adequate sample controls to help ensure accurate positive or negative test results. Microbix’s IVD control products aim to address that need by supporting the millions of NA HPV tests already conducted annually in European countries and helping to enable greater usage of such testing.

Microbix has secured “CE Mark” registration in compliance with European Council Directive 98/79/EC, permitting the sale of its REDx HPV 16, 18 and 45 Positive Controls, and its REDx HPV Negative Control within the member states of the European Economic Area. Going forward, Microbix intends to broaden its IVD REDx Controls line to include additional high-risk HPV types, as well as other species of pathogens.

These Microbix REDx Controls will address the quality systems needs of clinical laboratories conducting NA testing for HPV typing. Initial European sales efforts will be directed to the many clinical laboratories in France, Germany, Italy, and the United Kingdom. Microbix expects to sell directly to the largest chains of labs, with support from national distributors for other customers. Microbix will be represented at two upcoming industry events in Europe – the European Meeting on Molecular Diagnostics (EMMD) in the Netherlands (October 9-11, 2019), and the MEDICA Trade Fair in Germany (November 18-21, 2019).

Cameron Groome, CEO and President, commented on this registration, “Our team has created excellent controls to support molecular HPV tests, with these novel and branded REDx Controls products demonstrated to work when used with the leading diagnostic instrument platforms. We are therefore very pleased to be able to release these clinically-important products to laboratory customers across Europe.”

All Microbix’s quality assessment products (including its EQA/PT products, PROCEEDx™ line for validation, verification and training, and REDx™ Controls) are listed on the company website at www.microbix.com.

About Microbix Biosystems

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably its antigens for use in immunoassays and its quality assessment products (QAPs™). Microbix’s products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of cells or other particles. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Contact Information for Laboratory and Distributor Enquiries

Sarah Sokol – Distributor Support Specialist

001-905-361-8910 X 245, sarah.sokol@microbix.com

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of its CE Mark registration or regulatory compliance, HPV and its quality products, the outlook for the business, the risks associated with its financial results and stability, its technologies or their expected benefits, actions of its customers, its antigens and quality products businesses, 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.

Please visit www.sedar.com for recent Microbix filings.
For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
905-361-8910

Jim Currie, CFO
905-361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
647-203-8793, ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.         
Microbix®, Kinlytic®, LumiSort™, PROCEEDx™, QAPs™, and REDx™ Controls are trademarks of the Company
Microbix Shares Become Available For U.S. Investors

Microbix Reports Results For Q3 Fiscal 2019

Q3 Sales of $3.1 Million and $9.8 Million Year-To-Date

TORONTO, August 12, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, reports results for its third quarter and nine months of fiscal 2019, the three-month and nine-month periods ending June 30, 2019 (“Q3” & “YTD”), with record YTD sales, strong YTD sales growth, improving percentage gross margin, and progress on its strategic goals.

Management Discussion

Sales of $3.1 million for Q3 were down slightly vs. Q3 2018 and were to antigen customers spread across all geographic regions. Sales by Microbix’s distributor into the Asia-Pacific region were below target for Q3, however sales to our broader customer base were stronger than Q3 2018. Microbix’s sales outlook is satisfactory for its established-market customers, however the distribution of product to new customers in Asia and an expanding line of quality assessment products (QAPs™) are expected to increase quarter-to-quarter volatility of sales growth.

In Q3, Microbix continued its improvement in percentage gross margin, increasing versus the prior year for the fourth straight quarter. Those gains were achieved without the full benefits of its bioreactor program, which will only be realized across fiscal 2020.   Increased operating expenses led to a loss of $191,322 during Q3, versus a nominal profit in Q3 2018.  Microbix Cash Flow from Operating Activities was negative in Q3, due largely to the operating loss, a slight increase in inventory, and a reduction in deferred revenue. Microbix is working continuously to improve gross margin, cash flow and net earnings.

Third Quarter Financial Results

Total Q3 revenues were $3,110,615, a 4% decrease from Q3 2018 revenues of $3,235,224.  Included were antigen and quality product revenues of $3,028,397, 4% down from Q3 2018.  Revenues from royalties were $82,218 (2018 – $77,166).

Gross margin for Q3 was 49%, up from 47% in Q3 2018 even though margins in Q3 were unfavorably impacted by the mix of products sold versus Q3 2018, and this improvement in margins was largely independent of benefits from the ongoing bioreactor program.   Revenues from bioreactor-produced antigen were nominal in Q3 due in part to timing of order flows, while work toward conversion of all customers is continuing satisfactorily, as disclosed by Microbix in its news release update of August 1.

Operating expenses were up 12% during Q3 due to an increased investment in sales and marketing, costs of facilities expansion, and a stronger Canadian dollar.  At the end of Q3, Microbix’s current ratio (current assets divided by current liabilities) was 1.38 and its debt to equity ratio (total debt over shareholders’ equity) was 0.93.

Nine Month Financial Results

Total YTD revenues were $9,825,056, an 8% increase from the first nine months revenues of $9,120,984 in fiscal 2018.  Included were antigen and quality product revenues of $9,564,459, 8% greater than 2018, in spite of lower than targeted ordering from our Asia-Pacific distributor.  Revenue from royalties were $260,597 (YTD 2018 – $238,540).

Gross margin YTD was 51%, up from 44% in the first nine months of 2018, with this improvement largely being independent of benefits from the ongoing bioreactor program.  Resolution of yield control issues encountered in fiscal 2018 helped to improve YTD margins of a key conventionally-produced product, with other process enhancements also contributing.  The mix of products sold also varied versus YTD 2018 and had a favorable margin impact. YTD revenues from bioreactor-produced antigen were lower than expected, however work toward converting all customers is continuing satisfactorily.

YTD operating expenses increased by 8% from YTD 2018, reflective of an increased investment in sales and marketing activities, facilities expansion costs and debenture interest costs that had been capitalized to product development in previous years.

For the nine month period, Microbix recorded a net income of $80,734; a $516,406 improvement over the same period in fiscal 2018.

Financial Highlights

 

Corporate Outlook

Microbix continues to target double-digit sales growth, with ongoing efforts to improve gross margin and profitability. Its goal is to achieve successive quarterly improvements in financial results by increasing sales, improving yields, upgrading production technologies, optimizing product mix, and introducing new products. Additionally, work continues with regards to securing a partnership agreement to advance Microbix’ Kinlytic® urokinase project and to derive value from LumiSort™ technology.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products (QAPs™). Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its expertise and infrastructure to create proprietary new products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology for ultra-rapid and efficient sorting that can be used to enrich cell populations of interest.

Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.          Microbix®, Kinlytic®, LumiSort™, and QAPs™ are trademarks of the Company
Microbix Provides Bioreactor Update

Microbix Provides Bioreactor Update

Largest Customer Confirms Conversion Timetable & Provides Full-Scale Order

TORONTO, August 1, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, provides an update on the conversion of its highest-selling product into bioreactors – that the largest customer for that antigen has confirmed its intended timetable for conversion of its future orders to bioreactor product and has provided its initial full-scale order.

In 2018, Microbix completed a 500% expansion of its bioreactor capacity, moving to six full-scale units from one, along with multiple other production facilities upgrades. Its facilities upgrades were made to house up to eight bioreactors in a dedicated suite. Since that time, multiple customers for that native viral antigen have converted to bioreactor produced product, but its largest customer had been continuing a lengthy program of real-time stability studies and not yet converted. Those stability studies are now completed for some of that customer’s test formats and it has now confirmed how conversions are expected to occur over the course of Microbix’s fiscal 2020, with its first full-scale order for bioreactor product now received.

Due to the long production cycle for this antigen product and the parties’ order scheduling process, it is expected that the first such sales to this customer will be recorded in Q1 of 2020. Completion of the conversion process will mean that Microbix’s production of this largest-selling antigen has moved to its bioreactors. In contrast, over the 12 months ending June 30, 2019, a substantial majority of sales of this antigen were from conventional roller-bottle culturing processes.

Benefits of conversion are expected to be considerable. That antigen has been Microbix’s highest volume and lowest margin product and can comprise as much as half of quarterly sales. Conversion to bioreactor production is expected to enable Microbix to generate a higher and more consistent percentage gross margin. Additionally, transfer of this high volume product into bioreactors liberates capacity to produce more of its other conventionally-made antigen products. Specifically, the full conversion of this product into bioreactors enables Microbix to more than double overall antigen production with little additional capital expenditures. Making such further capacity available will help Microbix keep pace with the demand growth that is expected to be driven by the expanding use of immunoassay medical tests in Asia, where Microbix antigens are being widely incorporated into locally-developed tests seeking approval.

Cameron Groome, CEO and President, commented on this milestone, “We’re delighted about the broadening acceptance of our bioreactor Rubella antigen. All departments have helped with creating and commercializing these new processes. In addition to helping our profitability, the skills we’ve honed are tools to further optimize our business and place us at the cutting edge of antigen production technology.”

Microbix’s catalogue of antigen and quality assessment products is available on its website, as are detailed disclosures about its business and financial results (please visit www.microbix.com).

About Microbix Biosystems

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products (QAPs™). Microbix’s products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of cells or other particles. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of financial results or the outlook for the business, the risks associated with its financial results and stability, its bioreactor technology and its expected benefits, actions of its customers, its antigens and quality products businesses, 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.

Please visit www.sedar.com for recent Microbix filings.
For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.         
Microbix®, Kinlytic®, LumiSort™, and QAPs™ are trademarks of the Company
Microbix Announces Quality Products Distribution Agreement

FedDev Ontario Supports New Microbix Facility In Mississauga

Contribution of $2.75 Million to Scale-up, Meet Demand, and Create Highly-Skilled Jobs

MISSISSAUGA, July 30, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, is pleased to announce the execution of a contribution agreement with the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, Minister responsible for FedDev Ontario, and Member of Parliament for Mississauga–Malton, announced a FedDev Ontario contribution of $2,752,500 for Microbix to scale-up production at its state-of-the-art antigen manufacturing facilities – among the largest and most efficient operations of their kind.

Microbix, a developer and manufacturer of biological and technological solutions for human health and wellbeing, produces antigens for infectious disease diagnostic tests. Detection of infectious diseases allows healthcare professionals to better diagnose, treat and prevent the spread of disease worldwide.

FedDev Ontario’s contribution will allow Microbix to outfit its newly-acquired 10,000 square-foot facility, located adjacent to its current 14,000 square-foot facility, and add advanced equipment to boost production of its range of antigens at higher efficiency, greater volume, and superior quality – to meet growing global market demand. This expansion project will also enable Microbix to scale-up operations for the production, filling, labeling, and validation of its quality assessment products (QAPs™) at the new facility. QAPs are used to assess the accuracy of medical tests, leading to optimal patient care.

With this investment, Microbix intends to create up to 100 highly-skilled jobs in science and manufacturing in Mississauga – more than doubling the company’s current workforce. This project also supports the Government of Canada’s Economic Strategy Table on Health and Biosciences by growing our health and biosciences firms to support a more sustainable health system while advancing Canada’s prosperity.

“The life sciences sector in Canada has tremendous potential to become a key driver for our economy. By investing in companies like Microbix, we are boosting our economic growth and creating skilled jobs, while protecting and improving health outcomes in Canada and around the world.”

  • The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, Minister responsible for the Federal Economic Development Agency for Southern Ontario, and Member of Parliament for Mississauga–Malton

“FedDev Ontario support will be critical in helping Microbix to increase the breadth of its Quality Assessment Products (QAPs™) and to scale-up our production to meet customer needs. We are grateful for this support and excited about the export opportunities that this funding helps to enable. Microbix is proud to be based in Mississauga and to represent our life sciences innovations globally.”

  • Cameron Groome, Chief Executive Officer and President, Microbix Biosystems Inc.

Quick Facts

  • Established in 1988, Microbix Biosystems Inc. is a biotechnology company, listed on the Toronto Stock Exchange, which supplies key biological ingredients (antigens) for infectious diseases tests to over 100 diagnostics companies globally. Its current catalogue of antigens covers over 30 bacterial and viral pathogens implicated in various diseases.
  • More than 95 percent of Microbix’s revenue is generated through export sales to American, European and Asian markets.
  • Microbix received the Mississauga Board of Trade (MBOT) 2018 Innovation Award as a part of MBOT’s Business Awards of Excellence Program.
  • The FedDev Ontario contribution of $2,752,500 will be disbursed over the next four years and will leverage $7.15 million in further investment by Microbix over the same period. The FedDev Ontario contribution is an interest-free subordinated loan that will be repayable over the subsequent six years ending in 2029. The contribution will thereby support up to 30% of expenditures to broaden Microbix’s QAPs portfolio and expand its production.
  • This year marks 10 years of FedDev Ontario delivering funding and business services to support innovation and growth in southern Ontario.

 

Forward-Looking Information

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 Agreement  with FedDev Ontario and its potential benefits, Microbix’ business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced herein, 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 filings.

For further information, please contact Microbix at:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.         
Microbix® and QAPsTM are trademarks of the Company
 
Microbix Announces Annual And Special Meeting Voting Results

Microbix Reports Results For Q2 Fiscal 2019

Record Sales of $4.25 Million, Sales Growth of 42%, and Material Net Earnings

TORONTO, May 13, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, reports results for its second quarter and first half of fiscal 2019, the three-month and six-month periods ending March 31, 2019 (“Q2” & “H1”), with record sales, strong sales growth, improving percentage gross margin, materially positive net earnings, and progress on its strategic goals.

Management Discussion

Sales of $4.25 million for Q2 were very strong (up 42% year-over-year) and were principally to antigen customers based in North America and Western Europe. Sales by Microbix’s distributor into the Asia-Pacific region were below target for Q2, with that variance believed due to the earlier-stage and resulting lower predictability of those markets. Microbix’s sales outlook remains solid for its established customers, while distribution of product to new customers in Asia may add to quarter-to-quarter sales volatility.

In Q2, Microbix demonstrated strong year-over-year improvement in percentage gross margin (up by 13%) and achieved materially positive net earnings (an improvement of $733,854 versus the prior fiscal year “Q2 2018”). Notably, those gains were achieved without the full benefits of its bioreactor program. Cash Flow from Operating Activities was negative in Q2, due largely to uncollected receivables from shipments made to longtime customers toward the end of the period. Microbix continues to target double-digit sales growth and is working continuously to improve gross margin, cash flow and net earnings.

Second Quarter Financial Results

Total Q2 revenues were $4,253,629, a new record and a 42% increase from Q2 2018 revenues of $3,000,193.  Included were antigen and quality product revenues of $4,169,272, 43% greater than Q2 2018 in spite of below-target ordering from our Asia distributor.  Revenues from royalties were $84,357 (2018 – $78,392).

Gross margin for Q2 was 51%, up from 38% in Q2 2018, with this improvement largely being independent of benefits from the ongoing bioreactor program. The mix of products sold also varied versus Q2 2018 and had a favorable margin impact. Revenues from bioreactor-produced antigen were nominal in Q2 due to in part to timing of order flows, while work toward conversion of all customers is continuing satisfactorily.

Operating expenses for Q2 increased by 12% from Q2 2018 (+$184,416), reflective of the higher level of overall business activity. Such expenses increased with further investment in sales and marketing, patent filing and maintenance fees, and foreign exchange losses during the quarter.

At the end of Q2, Microbix’s current ratio (current assets divided by current liabilities) was 1.45 and its debt to equity ratio (total debt over shareholders’ equity) was 0.90.

First Half Financial Results

Total H1 revenues were also a record at $6,714,441, a 14% increase from 2018 first half (“H1 2018”) revenues of $5,885,760.  Included were antigen and quality product revenues of $6,536,062, 14% greater than H1 2018 in spite of low ordering from our Asia distributor.  Revenue from royalties were $178,379 (H1 2018 – $161,374).

Gross margin for H1 was 51%, up from 42% in H1 2018, with this improvement largely being independent of benefits from the ongoing bioreactor program.  Resolution of yield control issues encountered in fiscal 2018 helped to improved margins of a key conventionally-produced product across H1, with other process enhancements also contributing.  The mix of products sold also varied versus H1 2018 and had a favorable margin impact. Revenues from bioreactor-produced antigen were lower than expected across H1, however work toward converting all customers to the new product is continuing satisfactorily.

Operating expenses for H1 increased by 6% from H1 2018 (+$181,147), reflective of the higher level of overall business activity. Expenses increased in all categories, with Selling and Business Development up by 10% (+$27,260), G&A up by 2% (+$29,596), R&D up by 2% (+$9,387), and interest by 28% (+$114,903).

Financial Highlights

Corporate Outlook

Microbix continues to target double-digit sales growth, with ongoing efforts to improve gross margin and profitability. Its goal is to achieve successive quarterly improvements in financial results by increasing sales, improving yields, upgrading production technologies, and optimizing product mix. Additionally, work continues with regards to securing a partnership agreement to advance Microbix’ Kinlytic® urokinase project and to derive value from LumiSort™ technology.

 

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its expertise and infrastructure to create proprietary new products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology for ultra-rapid and efficient sorting that can be used to enrich cell populations of interest.

Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings.
For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.          Microbix®, Kinlytic® and LumiSort™
Microbix Will Be Exhibiting At The 35th Annual ASM Clinical Virology Symposium

Microbix Will Be Exhibiting At The 35th Annual ASM Clinical Virology Symposium

Microbix will be exhibiting at the 35th annual ASM/CVS (Clinical Virology Symposium) in Savannah on May 04-08th. We are showcasing our recently launched line of QAPs (Quality Assessment Products) used in a range of infectious disease diagnostics control applications. Featured products include the broadest line of HPV control products available today, along with a wide range of respiratory, STI, GI and other control materials, all based on our core competencies – growing viruses. Stop by our booth #927. Our mission is to support healthcare for humanity, and we are supporting 4oceans efforts in their mission to support the health of our oceans.

Microbix Shares Become Available For U.S. Investors

Microbix To Present At Bloom Burton Conference

Healthcare Investment Conference in Toronto on May 2 & 3, 2018

TORONTO, April 30, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces that it has been invited to present to investors about Microbix at the Bloom Burton & Co. Healthcare Investment Conference, being held at the Toronto Sheraton Centre Hotel on Wednesday and Thursday, May 2 and 3, 2018.

Microbix’ CEO, Cameron Groome, will speak to its latest corporate presentation at 3:30 PM ET on Thursday, May 3, in Hall C of the conference. Microbix’ latest corporate presentation is available at www.microbix.com, along with other business information and its financial disclosures.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it is commercializing two such products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, 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.

About Bloom Burton & Co. and the Conference

Bloom Burton is a Toronto-based investment bank solely focused on the healthcare industry. Its services include investment research, capital raising, strategic advisory work and direct investing. The conference hosts Canada’s leading publicly-traded, venture-backed private and pre-venture life sciences companies and is attended by domestic and international investors. Further information is available at www.bloomburton.com.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of Bloom Burton and its conference, Microbix’ business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced herein, 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 filings.

For further information, please contact Microbix at:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.          Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company

Microbix Announces Quality Products Distribution Agreement

Microbix Announces Management Changes

Ken Hughes Appointed COO, Kathryn Froh Retiring

TORONTO, April 18, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces that it has appointed Dr. Kenneth (Ken) Hughes as its Chief Operating Officer (“COO”) and that Mrs. Kathryn Froh, its Vice President, Diagnostics is retiring from her full-time role, but will be remaining an employee and will be available to assist with special projects.

Ken Hughes has been in the life sciences industry for more than 25 years and has worked as a CEO, senior executive, consultant and corporate director. Ken received his PhD from the University of London (UK) and has previously served as VP of Scientific Affairs at Microbix. Prior to his appointment as COO, he was a consultant to Microbix – helping to optimize operational processes and with the ongoing partnering program for Kinlytic® urokinase. Ken will fully undertake his new responsibilities in June.

Kathryn Froh joined Microbix in 1996 and has since fulfilled a series of increasingly senior positions, culminating with her directing much of the company’s revenue-generating operations. Among many accomplishments, she was responsible for the completion of the multiple facility upgrades undertaken by Microbix over the past 18 months and has supported the accelerating sales growth and work on enhancing margins. Kathryn will now bear the title of Vice President Emeritus and retires with great affection and respect from everyone at Microbix.

Cameron Groome, CEO and President of Microbix, commented on the two changes, “We are delighted to have Ken rejoin Microbix after having gained additional breadth and depth of experience in the diagnostics, hospital and drug development sectors. His expertise and energy are expected contribute greatly to achieving our corporate goals. In turn, we congratulate Kathryn on a well-earned retirement and are very pleased to be continuing a close relationship with her in her new role.”

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Its products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its expertise and infrastructure to create proprietary new products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology for ultra-rapid and efficient sorting of cells or particles 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.

Forward-Looking Information

This news release may include “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of management changes, financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings.

For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2019 Microbix Biosystems Inc.          Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company
Microbix Will Be Exhibiting At The 29th Annual ECCMID

Microbix Will Be Exhibiting At The 29th Annual ECCMID

Microbix will be exhibiting at the 29th annual ECCMID (European Congress of Clinical Microbiology and Infectious Disease) in Amsterdam on April 13-16th. We are showcasing our recently launched line of QAPs™ (Quality Assessment Products) used in a range of infectious disease diagnostics control applications. Featured products include the broadest line of HPV control products available today, along with a wide range of respiratory, STI, GI and other control materials, all based on our core competencies – growing viruses. Stop by our booth #1.5I. Our mission is to support healthcare for humanity, and we are supporting 4oceans efforts in their mission to support the health of our oceans.

Microbix Announces Issuance Of Stock Options

Microbix Announces Issuance Of Stock Options

Using Shareholder-Approved Plan to Incentivize and Retain

TORONTO, February 25, 2020 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices that help ensure test accuracy, announces the issuance of stock options under its shareholder-approved 2018 stock option plan (the “Stock Option Plan”), as part of its compensation programs to incentivize and retain its board of directors, executives, and managers.

Details of the Option Issuance

In consultation with the CEO and CFO, the Microbix Board of Directors has approved the issuance of 2,200,000 options in accordance with the terms of the Stock Option Plan. The options are exercisable at a price of $0.215 per share, as determined by the closing price of the TSX on 24 February, 2020. Each option will vest and be exercisable after three (3) years and have a total life of five (5) years. The stock option grants form part of the total remuneration package for the recipients and are subject to TSX approval.

Management Discussion

Management believes that stock options are an important tool to incentivize and retain senior personnel, particularly for smaller, publicly-listed companies. In February 2019, Microbix announced its intention to broadly use its stock option plan once per year – following the issuance of its Q1 results.

The options now issued are being allocated across 24 individuals that comprise the more senior tiers of Microbix’s 75 employees, inclusive of its independent directors. The mean award per individual is 91,667, with a standard deviation of 56,002. The quarterly expense incurred as a result of this option award is estimated to be $23,000, and will represent approximately 1% of total company compensation costs.

About the Microbix Stock Option Plan

Details of the Microbix Stock Option Plan are available on the corporate website (www.microbix.com), via SEDAR (www.sedar.com), and are provided as an appendix to the current management information circular. The Stock Option Plan is a “rolling” plan that permits the issuance of options representing up to 10% of Microbix’s issued and outstanding common shares. Prior to the current issuance, a total of 7,693,000 options had been issued under the plan, with an average exercise price of $0.35 and remaining life of 2.6 years. Following the current issuance, a total of 9,893,000 options will be outstanding, comprising 91% of the current plan availability. The plan is administered under the supervision of the board of Microbix or the human resources, compensation and governance committee of the board.

 About Microbix Biosystems Inc.

Microbix develops proprietary biological and technology solutions for human health and well-being, with sales usually exceeding $1 million per month and approximately 80 skilled employees. 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 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.

Forward-Looking Information

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 2018 Stock Option Plan or opinions relating to the plan, financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings.
For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2020 Microbix Biosystems Inc.          Microbix®, Kinlytic®, and QAPs™ are trademarks of the Company
Microbix Shares Become Available For U.S. Investors

Microbix Reports Results For Q1 Fiscal 2019

Lower Sales, Improving Gross Margin, Positive Cash Flow from Operations

TORONTO, February 12, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, reports results for its first quarter of fiscal 2019, the three-month period ending December 31, 2018 (“Q1”), with lower sales, improving percentage gross margin, improving and positive cash flow from operations and progress toward its operational goals.

Management Discussion

Sales for Q1 were held back by a combination of delayed shipment of a viral antigen product and a drive to reduce inventory by Microbix’s distributor for Asia-Pacific markets. While down year-over-year, Microbix does not consider Q1 sales to represent a lasting change to its double-digit sales growth targets.

In spite of lighter Q1 sales, Microbix demonstrated strong year-over-year improvement in percentage gross margin (up by 6%) and achieved positive cash flow from operations (an improvement of $1,462,810 vs. Q1 2018). Microbix expects double-digit sales growth over the balance of fiscal 2019, along with continuing improvement in percentage gross margin, cash flow and net earnings.

First Quarter Financial Results

Total Q1 revenue was $2,460,812, a 15% decrease from 2018 first quarter revenue of $2,885,567.  Included were antigen and quality product revenues of $2,366,790, 16% lower than 2018 due to delayed shipments and reduced ordering from our Asia distributor.  Revenue from royalties were $94,022 (2018 – $82,982).

Gross margin for Q1 was 52%, up from 46% in Q1 of fiscal 2018, and was largely unaffected by the yield control issues experienced from Q2 through Q4 of 2018. The mix of products sold varied versus Q1 of last year and had a favorable impact on margins.  While revenues from bioreactor-produced antigen doubled year-over-year, most production of that antigen continued to be from conventional methods in Q1.

Operating expenses for Q1 were largely unchanged from 2018, with lower sales and administrative costs offset by higher financial and R&D expenses. A slightly increased net loss was incurred in Q1 ($119,296) as compared to 2018 ($94,128). Cash provided by operations in Q1 was improved to positive $28,725, compared to cash used of $1,434,085 in 2018.

At the end of Q1, Microbix’s current ratio (current assets divided by current liabilities) was 1.36 and its debt to equity ratio (total debt over shareholders’ equity) was 0.94.

Corporate Outlook

For fiscal 2019, Microbix is again targeting double-digit sales growth, with that goal supported by its log of open purchase orders. Efforts to improve gross margins and profitability are ongoing, with the goal of achieving successive quarterly improvements via greater yields, upgrades to production technologies and changes in product mix. Additionally, work continues with regards to securing a partnership agreement to advance Microbix’ Kinlytic® urokinase project and to derive value from LumiSort.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’s products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of somatic cells that can be used to enrich cell populations of interest (such as sexing semen for the livestock industry). Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings. For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.          Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company
Microbix Provides Quality Assessment Products Update

Microbix Provides Quality Assessment Products Update

New Customers, More Products, and Expanding Capacity

TORONTO, February 5, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, provides an update on the expansion of its quality assessment product lines, announcing the addition of new customers, more products, and steps to expand its production capacity.

Microbix’s quality assessment products (QAPs™) are stabilized and inactivated pathogen samples. QAPs are used by proficiency organizations, diagnostic test developers, researchers and clinical laboratories and are now being manufactured under ISO 13485. Microbix has long offered a range of such products to proficiency organizations for use in their clinical laboratory certification programs (its PTDx™ line). In 2018, Microbix added the PROCEEDx™ line to its quality assessment offerings, for use in research, assay development, validation/verification of instruments, troubleshooting, and operator training.

PROCEEDx™ products are now being sold to multiple diagnostics companies, which will ship these Microbix-branded QAPs to their customers as a part of their new instrument sales or for use in their R&D and internal QC. Such shipments are the first time that Microbix’s name will be visible to end-users in the diagnostics market – a strategic milestone for our company. Development of further PROCEEDx™ brand QAPs is ongoing in collaboration with multiple leading diagnostics companies. Microbix believes such engagement substantiates its QAPs opportunities.

In order to effectively support its QAPs programs, Microbix is also pleased to announce that it has leased additional office, production, and warehousing space at 235 Watline Avenue in Mississauga. The newly-leased space will provide a further 10,300 square feet of space adjacent to its fully-owned 14,000 square foot production site at 265 Watline Avenue. When it takes occupancy this spring, Microbix will cede the office space it currently rents at 211 Watline Avenue and consolidate all its operations across the two neighboring buildings. It is expected that the new site will provide adequate space for filling, labeling and testing of its QAPs products at greatly-expanded volumes.

Cameron Groome, CEO and President of Microbix, provided further perspective. “Our quality business builds from the capabilities we developed to provide native antigens for many leading immunoassay makers. Supporting both immunoassays and molecular diagnostics, we expect our QAPs sales to grow in absolute terms and as a proportion of our total sales. In addition, we are pursuing new intellectual property to protect our product innovations in this field. We look forward to further reporting upon the sales growth of the QAPs product lines and their related value creation.

The current list of Microbix’s PROCEEDx™ products is available from its website at www.microbix.com. A more detailed business description is provided in Microbix’s Annual Information Form (AIF) for fiscal 2018, also on its website or at www.sedar.com.

About Microbix Biosystems

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, notably antigens used in immunoassays or quality assessment and proficiency testing products. Microbix’s products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and technology platforms to create other innovative products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of particles 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of financial results or the outlook for the business, the risks associated with its financial results and stability, its QAPs or 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.

Please visit www.sedar.com for recent Microbix filings.
For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 ir@microbix.com

Microbix Enhances Quality Management System

Microbix Enhances Quality Management System

ISO 13485:2016 Medical Devices Certification Attained

TORONTO, December 24, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces that it has attained the ISO 13485:2016 Medical Devices certification – an enhancement to its quality management system that is expected to accelerate the growth of its QAPs™ lines of quality assessment products.

Microbix has operated under the ISO 9001:2015 general quality standard or its predecessors since 2009, manufacturing its antigen products under that system. Microbix antigen products are sold as materials for the further manufacture of medical tests and are thereby further regulated at the end-user level.

The ISO 13485:2016 standard is designed for and specifically applicable to organizations involved in the design, production, installation, or servicing of medical devices and related services. Under the standard, a medical device is a product, such as an instrument, machine, implant or in vitro reagent that is intended for use in the diagnosis, prevention and treatment of diseases or other medical conditions.

At Microbix, the ISO 13485:2016 standard will apply to the design and manufacturing of all its QAPs lines. Ultimately, ISO 13485:2016 certification will enable Microbix to target the largest and most rewarding segment of the market for QAPs – providing quality control materials for clinical labs.

Microbix’s QAPs contain a precise quantity of stabilized antigen and have been engineered to closely resemble patient samples – to thereby support quality assessment of each critical step of complex medical tests.  There are three identifiable market segments for QAPs, namely:

  1. Proficiency Testing. Under the PTDx™ brand, QAPs are sold to laboratory accreditation organizations for use in their laboratory proficiency testing programs. This is a smaller market into which Microbix has been selling since 2009, under the ISO 9001 standard.
  2. Validation, Verification and Training. Under the PROCEEDx™ brand and used for research, assay development, validation/verification of instruments, troubleshooting, and operator training. This is a mid-sized market to which Microbix began offering products in 2018, also under ISO 9001.
  3. Clinical Laboratory Quality Control. Under the REDx Controls™ brand, Microbix intends to offer QAPs to clinical laboratories to support their patient-focused quality control objectives. This is believed to be the largest market for QAPs and requires a medical devices quality management system (ISO 13485:2016), due to such products directly affecting patient-care decisions.

Microbix’s attainment of ISO 13485:2016 certification will enable it to target all three segments of the QAPs market and should accelerate the growth in sales of all its branded QAPs applications. Attainment of the ISO 13485:2016 certification was the result of many months of work across the Microbix executive team, led by Mrs. Bo Hollas, Microbix’s Director of QA Compliance.

About Microbix Biosystems

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, notably antigens used in immunoassays or quality assessment and proficiency testing products. Microbix’s products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Mircobix also applies its biological expertise and technology platforms to create other innovative products and technologies. Currently it is has two;  (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of quality management system certifications or goals, new products being introduced or exhibited, industry needs or trends, financial results or the outlook for the business, the risks associated with its financial results and stability, its biologicals business, development projects, 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.

Please visit www.sedar.com for recent Microbix filings.
For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 ir@microbix.com

Microbix Announces Annual And Special Meeting Voting Results

Microbix Reports Results For Fiscal 2018

Full-Year Sales Growth of 23%, Progress Toward Sustained Profitability

TORONTO, December 21, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, reports results for its fourth quarter of fiscal 2018, the three-month period ending September 30, 2018 (“Q4”), with strong sales and progress toward its operational goals.

Management Discussion

In 2018, Microbix advanced upon its goal of sustained profitability, tripling its prior rate of sales growth, increasing its manufacturing capacity, and undertaking full-scale use of its new bioreactor production platform. These changes enabled the achievement of a new sales record of $12.5 million for fiscal 2018 (“2018”), although such operational progress was not yet realized in margins for Q4 or the full year.

For fiscal 2019, continued sales growth and better gross and net margins are expected. Microbix is committed to improving operational and financial strength and thereby driving share price appreciation.

Fourth Quarter Financial Results

Total Q4 revenue was $3,389,574, a 20% increase over 2017 fourth quarter revenue of $2,813,282.  Included were antigen and quality product revenues of $3,308,913, 22% higher than 2017 due largely to strong sales growth in Asia via our distributor.  Revenue from royalties were $80,661 (2017 – $93,663).

Gross margin for Q4 was 41%, up from 39% in Q4 of fiscal 2017, but well below objectives. Gross margin varies with product mix but, as in Q2 and Q3 of 2018, yield-control issues with a conventionally-produced antigen meaningfully reduced gross margin (by about 10%). Those issues are now resolved and further measures to improve yields and margins are being undertaken across multiple products.

Operating expenses for Q4 decreased compared to 2017, due to lower legal and interest costs. However, during its review of corporate assets, Microbix determined that it has become less likely that it will fully recover the investments made in LumiSort™.  The decision was therefore made to write-down all LumiSort related assets; namely its original investment and its capitalized development, prototyping and patenting costs.   While Microbix can no longer support retaining an asset value of $7,878,758 on its books for LumiSort, efforts to license or sell the technology will continue.

As a result of the non-cash LumiSort write-down, Microbix incurred a Q4 net loss $8,185,894 (versus a 2017 net loss of $1,009,911).  However, Microbix generated a reduced Q4 operating loss before such one-time adjustments of $307,135, (versus a 2017 loss of $917,673). Cash provided by operations (“CFO”) in Q4 was also improved to positive $249,815, compared to cash used of $447,812 in 2017.

12 Month Financial Results

Total 2018 revenue was $12,510,558, a 23% increase over 2017 revenue of $10,185,798, with sales to each of Microbix’ two largest customers increasing significantly. Included were antigen and quality product revenues of $12,191,357, up by 23% from 2017.   Royalty revenue was up 9% at $319,201 (2017 – $293,939).

At $5,369,436, gross margin for 2018 increased by $557,063 or 12%, due to increased sales and changes to product mix, but with sales-related gains offset by the previously outlined yield-control issues. Additionally, the benefit of shifting production of a leading antigen into bioreactors was not fully realized due to the conversion of a key customer being slower than expected.

Operating expenses for 2018 decreased compared to 2017 due to lower legal and interest costs. Such cash cost savings were overshadowed by the non-cash charge associated with the LumiSort assets write-down. As a net result, the Company experienced a net loss for the year of $8,621,566 (versus a net loss of $3,780,088 for 2017). Adjusting for such one-time costs (restructurings, settlements and write-downs) in both fiscal years, the net operating loss in 2018 was $742,808 compared to a loss of $1,499,534 for 2017.

Cash used in operations in 2018 was $537,005, compared to cash provided of $297,047 in 2017.  This swing in CFO was largely due to utilization of funds to reduce accounts payable in Q1 and Q2.  Cash used in investing activities was $1,217,999 (2017 – $640,750), due to increased investment in capital equipment and manufacturing facility upgrades, with the increase partly offset by lower investment in development of intangible assets.

At the end of Q4 after the asset value write-downs associated with LumiSort, Microbix’s current ratio (current assets divided by current liabilities) was 1.46 and its debt to equity ratio (total debt over shareholders’ equity) was 0.87.

Corporate Outlook

For fiscal 2019, Microbix is again targeting double-digit sales growth, with that goal supported by its log of open purchase orders. Efforts to improve gross margins and profitability are ongoing, with the goal of achieving successive quarterly improvements via greater yields, upgrades to production technologies and changes in product mix. Additionally, work continues with regards to securing a partnership agreement to advance Microbix’ Kinlytic® urokinase project and to derive value from LumiSort.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’s products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of somatic cells that can be used to enrich cell populations of interest (such as sexing semen for the livestock industry). Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings.
For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.          Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company
Microbix Wins Business Award Of Excellence

Microbix Wins Business Award Of Excellence

Recognized with 2018 Business Innovation Award by MBOT

TORONTO, November 19, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces that it has been recognized with the 2018 Business Innovation Award by the Mississauga Board of Trade (MBOT).

The award was provided to Microbix at the MBOT Business Awards of Excellence event the evening of November 15. The 2018 Business Innovation Award was in recognition of Microbix’s innovations in making native antigens and quality assessment products, its accelerating sales growth, and its emphasis on international markets. Microbix was chosen by the MBOT judging committee from among a field of 70 nominees across eleven awards categories.

Microbix’s native antigens are used for the development or manufacturing of tests to detect the level of patients’ antibodies to an infectious disease. Results of such tests provide medically-important information concerning exposure to, or immunity against, the relevant pathogens. Microbix provides the needed antigens to more than 100 makers of such medical tests. Microbix’s quality assessment products (QAPs™) contain native antigens and nucleic-acids, and have been engineered to support quality assessment of each crucial step of complex medical tests.

Established in 1961, the MBOT serves and represents the interest of businesses of all sizes and sectors in the Mississauga community. Located adjacent to Toronto, Mississauga is Canada’s sixth largest city and the third largest in Ontario. Mississauga has a population of nearly 800,000, with over 50,000 businesses that employ 440,000 people – including the Canadian headquarters of 60 “Fortune 500” companies.

Cameron Groome, CEO and President of Microbix, commented on the MBOT award, “We greatly appreciate this recognition from our peers in the Mississauga business community. We are proud of everyone on our team of 80 skilled business and scientific professionals and thank them for their diligent work. We likewise thank all other stakeholders that support Microbix, including our customers, suppliers, financial partners, the City of Mississauga and the MBOT.”

About Microbix Biosystems

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, notably antigens used in immunoassays or quality assessment and proficiency testing products. The Company also applies its biological expertise and technology platforms to create other innovative products and technologies. Currently it is working to commercialize two such proprietary products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of new products being introduced or exhibited, industry needs or trends, financial results or the outlook for the business, the risks associated with its financial results and stability, its 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.

Please visit www.sedar.com for recent Microbix filings.
For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 ir@microbix.com

Microbix Exhibiting At MEDICA Trade Fair

Microbix Exhibiting At MEDICA Trade Fair

Showcasing Antigen and Quality Assessment Products

TORONTO, November 6, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces that it will be exhibiting its antigens and quality assessment products at MEDICA, a leading international trade fair for the medical sector.

The 2018 MEDICA fair is being held at the Messe Dusseldorf exhibition grounds in Dusseldorf, Germany from November 12 to 15, 2018. At MEDICA, Microbix will showcase its industry-leading line of native antigen products and its new PROCEEDx™ brand quality assessment products (QAPs™).

Microbix’ line of purified and inactivated antigens are made from real viruses or bacteria and are thereby referred to as “native.” They are used for the development or manufacturing of medical tests to detect the level of patients’ antibodies to an infectious disease. Results of such tests provide clinically-important information concerning exposure to, or immunity against, the relevant pathogens. Microbix provides such critical antigens to more than 100 makers of such medical tests.

Microbix’ QAPs contain a precise quantity of stabilized antigen and have been engineered to closely resemble patient samples and thereby support quality assessment of each critical step of complex medical tests.  Under the PROCEEDx™ brand, they are used for research, assay development, validation/verification of instruments, troubleshooting, and operator training. Currently, this product line comprises a wide range of respiratory and sexually transmitted infections (STIs), including its recently-launched human papilloma virus (HPV) line which is under evaluation by leading diagnostic companies. PROCEEDx™ products support both immunological and molecular assays (as necessary) and have extended stability in liquid form when stored at 2-8o Celsius.

Mr. Phil Casselli, SVP Sales and Business Development, is spearheading the Microbix team at MEDICA, accompanied by three colleagues across sales, product management and new product development. Phil noted the following about Microbix’ attendance at MEDICA, “The MEDICA fair provides us a convenient venue to catch-up with many of our existing customers, showcase new products such as PROCEEDx™,  and meet new potential customers and distributors for our QAPs lines.”

The Microbix team can be visited during MEDICA at Hall 3, Booth H14, as part of the Canadian Pavilion.

Microbix’ antigen and PROCEEDx™ products are available for sampling or purchase on its website at www.microbix.com. Higher volume purchasers should contact Microbix’ representatives for a quotation.

About Microbix Biosystems

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, notably antigens used in immunoassays or quality assessment and proficiency testing products. The Company also applies its biological expertise and technology platforms to create other innovative products and technologies. Currently it is working to commercialize two such proprietary products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of products being introduced or exhibited, industry needs or trends, financial results or the outlook for the business, the risks associated with its financial results and stability, its biologicals business, development projects such as any 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.

Please visit www.sedar.com for recent Microbix filings.
For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 ir@microbix

Microbix Presenting At Muskoka Capital Conference

Microbix To Present At Muskoka Capital Conference

Conference Introduces Growth Companies to Investors, September 28-30, 2018

TORONTO, September 27, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces that it will be presenting to investors about Microbix at the Muskoka Capital Conference, organized by Capital Event Conferences and being held at the JW Marriott Rosseau Muskoka, in Minett, Ontario from September 28-30, 2018.

Microbix’ CEO, Cameron Groome, will undertake a series of 18 one-on-one meetings with growth company investors during the formal portion of the conference. The presentation slides to which he will be speaking have been posted to the Microbix website at www.microbix.com, along with other business information and its financial disclosures.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it is commercializing two such products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, 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.

About Capital Event Conferences and the Event

Capital Event Conferences produces seven conferences per year across North America and the Bahamas. Attendees include leading public and private issuers and a range of investors consisting of large book brokers, fund managers, and high net worth investors. Capital Event’s unique event formats aim to allow principals to establish new and lasting relationships that lead to financings, open market support, and increased awareness within the investment community. Further information about the Muskoka event is available from its website at www.capitalevent.ca.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of Capital Event Conferences and its conferences, Microbix’ business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced in its corporate presentation, 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 filings.

For further information, please contact Microbix at:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.          Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company
Microbix Announces Annual And Special Meeting Voting Results

Microbix Reports Record Third Quarter Sales

Microbix Reports Record Third Quarter Sales

Year-Over-Year Sales Growth of 24% in First Nine Months

 

TORONTO, August 14, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, reports financial results for its third quarter of fiscal 2018, the three-month period ending June 30, 2018 (“Q3”), with record sales and progress toward its operational goals.

Third Quarter Financial Results

Total Q3 revenue was $3,235,224, a 17% increase over 2017 third quarter revenue of $2,773,365.  Included were antigen and quality product revenues of $3,158,058, 17% higher than 2017 due largely to strong Asian growth via our distribution partner.  Revenue from royalties were $77,166 (2017 – $67,954).

Gross margin for Q3 was 47%, up from 38% in fiscal Q2 of 2018, but down from 54% in Q3 of 2017. Such margin changes are due to quarterly fluctuations in sales mix and yield-control issues with a conventionally-produced antigen product, which reduced gross margin by an estimated 8.5% in Q3. Measures to improve yields and gross margins are being undertaken across Microbix’ product lines.

Total operating expenses for Q3 decreased by $139,335 compared to 2017. This was primarily due to lower legal expenses, as in 2017 Microbix was incurring the costs of defending a patent lawsuit which was later settled in our favour.   In total, Microbix generated positive Q3 net operating income before restructuring and tax adjustments of $958, versus a loss of $164,104 in 2017. Cash provided by operations (CFO) in Q3 was $82,226, compared to $291,596 in 2017.  The year-over-year decline in CFO was largely due to deployment of working capital into receivables and inventory to support sales growth ($695,202 in Q3), partly offset by greater customer deposits (increase of $444,674 in deferred revenue). Net cash used in investing activities was $335,107 (2017 − $145,482), due to continued investment in upgrading our manufacturing facilities ($300,925) and in prosecution and maintenance of our LumiSort™ patents ($34,182).   Cash provided by financing activities was $217,131 (2017 – used by $14,984).   Net of all entries, usage of cash was $35,749 in Q3 and liquidity is adequate to support near-term growth objectives.

Nine Month Financial Results

For the nine months ended June 30, 2018 (“YTD”), revenues were $9,120,984, up by 24% from 2017, with sales to each of Microbix’ two largest customers increasing. However, the benefits of shifting production of a leading viral antigen into bioreactors are as yet largely unrealized – as a key customer continues its real-time stability studies of test kits made with bioreactor-produced antigen. YTD provided a net comprehensive loss of $435,672, compared to $2,770,177 in 2017, of which $2,188,316 was due to effects of a debt restructuring, legal settlement and tax asset revaluation. Net of those items, the YTD loss for 2017 was $581,861. At the end of Q3, Microbix’ current ratio (current assets divided by current liabilities) was 1.39 and its debt to equity ratio (total debt over shareholders’ equity) was 0.52.

Corporate Outlook

We continue to target double-digit sales growth over the balance of fiscal 2018 and through 2019. Microbix maintains a log of open purchase orders that, along with year-to-date results, supports meaningful sales growth. Efforts to improve gross margins and profitability are ongoing, with the goal of achieving successive quarterly improvements via greater yields, upgrades to production technologies and changes in product mix. Additionally, work continues with regards to securing partnership agreements to advance Microbix’ Kinlytic® urokinase and LumiSort™ cell-sorting projects.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it is commercializing two such products, (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of somatic cells that can be used to enrich cell populations of interest (such as sexing semen for the livestock industry). Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings.
For further information, please contact:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.          
Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company
Microbix Exhibiting At AACC Exposition

Microbix Exhibiting At AACC Exposition

Showcasing New Quality Assessment Products

TORONTO, July 26, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces that it will be exhibiting its Quality Assessment Products (QAPs™) at the 70th annual clinical laboratory exposition of the American Association of Clinical Chemistry (AACC).

The 2018 AACC exposition is being held at the McCormick Place convention center in Chicago, Illinois from July 31 to August 2, 2018. Microbix will be showcasing a series of its new PROCEEDx™ brand QAP products at the AACC exposition. PROCEEDx™ products are used for research, assay development, validation/verification of instruments, troubleshooting, and operator training. Currently, this product line supports quality assessment objectives of tests and related devices for a wide range of respiratory and sexually transmitted infections (STIs). The highlight of the STIs offering is the Human Papilloma Virus (HPV) panel containing positive samples of viral types 16, 18, 45, 31, 33 and 39. These products are designed to closely resemble patient samples, with integrated and episomal presence of HPV, and to support quality assessment of the DNA/RNA extraction, detection and amplification steps of tests.  PROCEEDx™ products support both immunological and molecular assays (as necessary) and are stable up to 72 months in liquid form when stored at 2-8o Celsius.

Mr. Phil Casselli, SVP Sales and Business Development of Microbix, is spearheading its team at the AACC exposition and commented, “As diagnostic tests for infectious diseases become more complex, there is a growing need for quality assessment products – to support researchers, test developers, laboratories and others. Our QAPs product line is highly complementary to our established line of infectious disease antigens and our new HPV QAPs are unparalleled in the industry.  We’re pleased to use our expertise to provide validated third-party products that address our customers’ needs and to be presenting our latest innovations at the AACC Expo.”

Microbix PROCEEDx™ products are available for purchase on its website at www.microbix.com. They are the second product line within the QAPs family, which also includes its well established laboratory proficiency testing and certification products (its PTDx™ product line) which are only available to qualified proficiency program providers. Microbix can be visited at booth #658 at the AACC exposition.

About Microbix Biosystems

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, notably antigens used in immunoassays or quality assessment and proficiency testing products. 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™ cell-sorting, 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of new products being introduced or exhibited, industry needs or trends, financial results or the outlook for the business, the risks associated with its financial results and stability, its 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.

Please visit www.sedar.com for recent Microbix filings.
For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 ir@microbix.com

Microbix To Present At Okanagan Capital Conference

Microbix To Present At Okanagan Capital Conference

Conference Introduces Growth Companies to Investors, July 12-14, 2018

TORONTO, July 12, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces that it will be presenting to investors about Microbix at the Okanagan Capital Conference, organized by Capital Event Conferences and being held at the Delta Grand Okanagan hotel in Kelowna, B.C. from July 12 to 14, 2018.

Microbix’ CEO, Cameron Groome, will undertake a series of 18 one-on-one meetings with growth company investors during the formal portion of the conference. The presentation slides to which he will be speaking have been posted to the Microbix website at www.microbix.com, along with other business information and its financial disclosures.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it is commercializing two such products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, 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.

About Capital Event Conferences and the Event

Capital Event Conferences produces seven conferences per year across North America and the Bahamas. Attendees include leading public and private issuers and a range of investors consisting of large book brokers, fund managers, and high net worth investors. Capital Event’s unique event formats aim to allow principals to establish new and lasting relationships that lead to financings, open market support, and increased awareness within the investment community. Further information about the Okanagan event is available from its website at www.capitalevent.ca.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of Capital Event Conferences and its conferences, Microbix’ business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced in its corporate presentation, 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 filings.

For further information, please contact Microbix at:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.          Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company
Microbix Expanding QAPs™ Production Capacity

Microbix Completes Multiple Facility Upgrades

Production Capacity Increased to Support Growth Objectives

TORONTO, May 8, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces the completion of multiple upgrades to its production facility, to improve its revenue capacity and in support of corporate growth objectives.

About Microbix’ Antigens & Quality Products Business

Microbix is a leading independent producer of bacterial and viral antigens for use in medical diagnostics and laboratory quality assessment processes, selling over 100 commercial products to many international diagnostics makers or laboratory accreditation organizations. Antigens enable the detection of circulating immune system antibodies – needed to establish whether a patient has been exposed to a pathogen, has adequate immunity to it, or may have an active infection. The need for antigens is increasing as immunoassay diagnostics are being adopted more broadly, particularly into Asia-Pacific nations. The full product list is available at www.microbix.com.

Facility Upgrades Now Completed

Microbix owns a dedicated production facility in Mississauga, Ontario and has 78 employees. To support the expected growth of antigen demand, Microbix began a program of upgrades to its facility in November, 2017, following a private placement in October, 2017. Its program of upgrades is now substantially completed, with the following tasks having been accomplished:

·         Doubling of the power supply ·         Expanding the sterile water system
·         Expanding the bioreactor suite ·         Enhancing media prep capacity & efficiency
·         Increasing bioreactor capacity by 500% ·         Reallocating glassware prep & cleaning space
·         Creation of two new processing rooms ·         Transfer of executive support offices offsite
·         Addition of two processing ultracentrifuges ·         Additions to QC/QA laboratory space
·         Addition of four bioprocessing cabinets ·         HVAC rebalancing & security enhancements

The largest remaining item is to update and increase autoclave capacity, targeted for later in 2018.

Business Outlook

Microbix is experiencing material growth in demand across its larger-selling antigens. Its intention is to meet this demand by increasing production capacity and via the adoption of new technology, such as its use of bioreactors for production of viral antigens. It thereby seeks to increase overall revenues while also increasing its gross margins – by way of moving production of its largest-selling, but lowest-margin product into a higher-margin bioreactor process and thereby freeing conventional capacity to make more of other, higher-margin antigens. This process is expected to be substantially completed in the latter half of fiscal 2019, and result in enhancements to both revenues and net earnings during fiscal 2019.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably the antigens needed for immunoassays and quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it is commercializing two such products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, 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.

Forward-Looking Information

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 antigens business and goals relating to it, financial results or the outlook for the business, risks associated with its financial results and stability, its broader business and development projects such as those referenced herein, 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 filings.

For further information, please contact Microbix at:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.          Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company

Microbix Participating In COVID-19 Virtual Conference

Microbix To Present At Bloom Burton Conference

Healthcare Investor Conference in Toronto on April 30 & May 1

TORONTO, April 29, 2019 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces that its CEO, Cameron Groome, has been invited to present at the 2019 Bloom Burton & Co. Healthcare Investment Conference, being held at the Metro Toronto Convention Centre on April 30 and May 1.

Microbix’ CEO will speak to its latest corporate presentation at 4:00 PM ET, on Tuesday, April 30 at the Metro Convention Centre, Conference Hall B.  Microbix’ latest corporate presentation will be made available at www.microbix.com, along with other business information and its financial disclosures.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its expertise and infrastructure to create proprietary new products and technologies. Currently it has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug (used to dissolve blood clots) and (2) LumiSort™ cell-sorting, a technology for ultra-rapid and efficient sorting that can be used to enrich cell populations of interest.

Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

About the Conference:

The Bloom Burton & Co. Healthcare Investor Conference brings together U.S., Canadian and international investors who are interested in the latest developments in the Canadian healthcare sector. Attendees will have an opportunity to obtain corporate updates from the premier Canadian publicly traded and private companies through presentations and private meetings.

Location and Timing of the Conference:

The Conference is being held at the Metro Toronto Convention Centre (255 Front St W, Toronto, Ontario, M5V 2W6) on Tuesday, April 30 and Wednesday, May 1, 2019, from 8:30 am to 5:00 pm ET.

 

About Bloom Burton & Co.:

Bloom Burton & Co. (Bloom Burton Securities Inc.) is a firm dedicated to accelerating returns in the healthcare sector for both investors and companies. Bloom Burton has an experienced team of medical, scientific, pharmaceutical, legal and capital markets professionals who perform a deep level of diligence, which combined with our creative and entrepreneurial approach, assists our clients in achieving the right monetization events. Bloom Burton and its affiliates provide capital raising, M&A advisory, equity research, business strategy and scientific consulting, advisory on direct investing and company creation and incubation services. Bloom Burton Securities Inc. is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and is also a member of the Canadian Investor Protection Fund (CIPF).

 

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of Bloom Burton and its conference, Microbix’ business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced herein, 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 filings.
For further information, please contact Microbix at:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.          
Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company
Microbix Engages Drug Licensing Advisor

Microbix Engages Drug Licensing Advisor

Torreya Partners to Assist with Kinlytic® urokinase

TORONTO, April 26, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces the engagement of Torreya Partners LLC of New York to assist it in reaching an agreement that enables the re-launch of its clot-buster drug, Kinlytic® urokinase,  into the United States market.

About Kinlytic® urokinase

Kinlyic® urokinase (formerly Abbokinase®) is an injectable thrombolytic or “clot-buster.” The drug is approved in the U.S. and Canada to clear blood clots and has treated over 4 million patients, with well-established efficacy and safety. However, it is currently unavailable due to a lack of validated production, requiring new investment in order to return it to market under the U.S. supplemental NDA (sNDA) process.

Microbix has developed a detailed plan to return Kinlytic to the U.S. market for clearing blood clots from catheters and is well-qualified to direct this project for a committed strategic partner. It is estimated that US$30 million and three years is required to re-launch the product for this US$300 million per year usage.

Kinlytic is the low molecular weight (LMW) form of a naturally-occurring serine protease, produced by cost-effective cell culturing. It clears clots via the enzymatic cleavage of fibrin, their major structural component. Kinlytic is the only approved LMW urokinase in the world and provides both U.S. and international sales potential. A non-confidential project summary is available at www.microbix.com

About Torreya Partners LLC

Torreya is a global investment banking boutique serving companies in the life sciences industry. Since its inception, it has advised clients on more than US$100 billion of transactions for biotechnology, branded pharmaceutical, generic pharmaceutical, and life sciences companies. Torreya has offices in New York, London and Mumbai that, along with affiliate offices on six continents, enable over half its transactions to be outside of the United States. Further information about the firm is available at www.torreya.com.

About the Agreement

Microbix has engaged Torreya to assist it with reaching an agreement that enables the re-launch of Kinlytic into the United States market. The services to be provided include a wide range of assistance further to completing a licensing transaction or asset sale.

For its services, Torreya will be paid an engagement fee comprised of (a) 200,000 MBX shares, and (b) 250,000 warrants to purchase MBX shares, each warrant having a strike price of C$0.30 and term of 5 years. Torreya will likewise be compensated with a part of the value of a successfully executed transaction, based on a percentage of funds received by Microbix, paid as received and subject to a minimum amount. Microbix believes the terms of the agreement are fair and serve both parties’ interests.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well-being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it is commercializing two such products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of Kinlytic and goals or transactions relating to it, financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings.

For further information, please contact Microbix at:

Cameron Groome, CEO

(905) 361-8910

Jim Currie, CFO

(905) 361-8910

Deborah Honig, Investor Relations

Adelaide Capital Markets

(647) 203-8793    ir@microbix.com

Torreya Partners Contact:

Tom Bird, Partner and Co-Head of North America Transactions

(212) 257-5806     tom.bird@torreya.com

Copyright © 2018 Microbix Biosystems Inc.          

Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company

Microbix Announces Annual And Special Meeting Voting Results

Microbix Reports Record First Quarter Sales – Year-Over-Year Sales Growth Of 48%

TORONTO, February 14, 2018 ‐ Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, reports financial results for its first quarter of fiscal 2018, the three‐ month period ending December 31, 2017 (“Q1”), with record sales and improving margins and earnings.

First Quarter Financial Results

Total Q1 revenue was $2,885,567, an increase of 48% compared to the first quarter of fiscal 2017. Normalized to remove approximately $600,000 of revenues intended for Q4 that were delayed into Q1, year‐over‐year sales growth was 17%, on target toward management’s goal of sustained double‐digit percentage sales growth. Revenues were dominated by antigen sales, reflective of customarily low Q1 demand for Microbix’ laboratory proficiency‐testing (quality assessment) products. Sales growth was driven by increased orders from longstanding customers, with growth across multiple antigen products.

Gross margins for Q1 improved to 46%, up from 42% in the first quarter of the preceding year. While improved, gross margin is not yet at management’s target level, due largely to the full assumption of bioreactor staff costs into cost‐of‐goods‐sold prior to all planned capacity coming on‐line. Specifically, bioreactor revenue in the quarter was approximately one‐sixth of the capacity that Microbix is in the midst of commissioning. Therefore the financial benefits of the move to bioreactors and of the reallocation of conventional antigen production capacity were not yet realized for Q1.

Bottom‐line results improved in Q1, with a net comprehensive operating loss of ($94,128) as compared to ($525,406) in 2017. No restructuring, settlement or tax entries were incurred in Q1, in contrast to the first quarter of 2017 when such items resulted in further expenses totaling $2.7 million.

Microbix’ balance sheet has also been improved, with Q1 financial ratios better on a year‐over‐year and quarter‐over‐quarter basis. Management has quickly deployed proceeds of the October private placement to optimize working capital utilization and undertake needed upgrades, including the capacity ramp‐up plans announced in November. At present, Microbix’ current ratio (current assets divided by current liabilities) is 1.6 and its debt to equity ratio (total debt over shareholders’ equity) is 0.5.

Corporate Outlook

Management is targeting for double‐digit sales growth to continue over the balance of the 2018 fiscal year and through fiscal 2019. The Company maintains a log of open purchase orders from its customers that, along with year‐to‐date results, currently suggests meaningful sales growth for fiscal 2018. Efforts to improve gross margins and profitability will be ongoing, with the intention to demonstrate successive quarterly improvements. Additionally, work continues with regards to securing partnership agreements to advance Microbix’ Kinlytic® urokinase and LumiSort™ cell‐sorting projects.

About Microbix Biosystems Inc.

Microbix specializes in developing proprietary biological and technology solutions for human health and well‐ being. It manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment products. Microbix’ products are sold to more than 100 customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

Microbix also applies its biological expertise and infrastructure to create proprietary new products and technologies. Currently it is commercializing two such products, (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell‐sorting, 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.

Forward‐Looking Information

This news release includes “forward‐looking information,” as such term is defined in applicable securities laws. Forward‐ looking information includes, without limitation, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, 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 filings. For further information, please contact:

Cameron Groome, CEO (905) 361‐8910

Jim Currie, CFO (905) 361‐8910

Deborah Honig, Investor Relations Adelaide Capital Markets

(647) 203‐8793 ir@microbix.com

Microbix Featured At Cantech Investment Conference

Microbix Featured At Cantech Investment Conference

Invited onto Panel about Managing Canadian Healthcare Companies for Growth

TORONTO, January 29, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces its participation as a panelist and exhibitor at the Cantech Investment Conference, being held at the Metro Toronto Convention Centre on January 31, 2018.

Celebrating its fifth anniversary, Cantech is Canada’s largest technology investment conference. Cantech works to connect approximately 3,500 engaged investors with over 100 leading technology-oriented growth companies. Further information about Cantech is available at www.cambridgehouse.com.

Microbix’ CEO, Cameron Groome, will participate in a panel discussion entitled “Challenges and Triumphs: CEO’s Managing Canadian Healthcare Companies for Growth.” The panel will be moderated by Mr. Eden Rahim of Next Edge Capital and is scheduled for 3pm EST in the main TSX presentation hall.

Microbix will also be exhibiting at the Cantech Conference, to address investor questions about the company, its diagnostic and quality products and its development projects. Microbix will occupy booth 303 at the conference, alongside other exhibiting Canadian growth companies and service providers.
Current Microbix information, including its corporate slide deck, is available from www.microbix.com.

About Microbix Biosystems
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, notably antigens used in immunoassays or quality assessment and proficiency testing products. Microbix’ products are sold to more than 100
customers worldwide, primarily to multinational diagnostics companies and laboratory accreditation organizations.

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™ cell-sorting, 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.

Forward-Looking Information
This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, information about the Cantech conference or comments made there, and information about the Company’s biologicals business and its products, development projects, financial results and outlook, as well as risks associated with finances or their stability, operations in foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity and product delivery), foreign currency and exchange rates, maintaining adequate working capital or raising further capital on acceptable terms or at all, and any other statements concerning anticipated future events, conditions or results
that are not historical facts. Forward-looking 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 filings.
For further information, please contact:

Company Contacts:
Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 ir@microbix.com

Copyright © 2018 Microbix Biosystems Inc.
Microbix®, Kinlytic® and LumiSort™ are trademarks of the Company

Microbix Featured At Cantech Investment Conference

Cantech Investor Conference

JANUARY 29, 2018

Celebrating the 5th anniversary of Canada’s largest technology investment conference. We are excited to bring over 3500 engaged investors together with 100+ leading technology companies.

Visit us at the Metro Toronto Convention Center on January 31 from 8 AM to 7 PM

For more information, http://cambridgehouse.com/e/cantech-investment-conference-2018-72

Microbix Expands Quality Assessment Product Family

Microbix Expands Quality Assessment Product Family

 

48 New Products Being Added, Under PTDx™ and PROCEEDx™ Brands

TORONTO, January 18, 2018 – Microbix Biosystems Inc. (TSX: MBX, Microbix®), an innovator of biological products and technologies, announces the expansion of its quality assessment product family, with 48 new products being completed and made available for sale under its PTDx™ and PROCEEDx™ brands.

Microbix’ quality assessment products are used by clinical laboratories, diagnostic test developers, researchers and proficiency organizations. Microbix has long offered a range of such products to proficiency organizations for use in their clinical laboratory certification programs (its PTDx line).

Microbix is now adding the PROCEEDx™ line to its quality assessment offerings. PROCEEDx™ products are used for research, validation/verification of instruments, troubleshooting, and operator training. Qualification of the first 26 PROCEEDx™ products includes confirmation of long-term stability, performance with relevant assays and lot-to-lot consistency. Completion of a further 11 new products for each of the PTDx and PROCEEDx™ lines will bring Microbix’ quality assessment family up to 78 discrete products.

In fiscal 2017, Microbix generated nearly 10% of its revenues from sales of PTDx products to proficiency organizations. It is expected that sales of its quality assessment products will grow, based on new uses and from the addition of new products. The current list of Microbix’ PTDx and PROCEEDx™ products is available from its website at www.microbix.com. A more detailed business description is provided in Microbix’ Annual Information Form (AIF) for fiscal 2017, also on its website or at www.sedar.com.

Coincident with this product family expansion is the launch of a new Microbix website at www.microbix.com. The new site enables online ordering of Microbix’ quality assessment and antigen products. Customers and shareholders will find the new site more user-friendly and informative.

Mr. Phil Casselli, SVP Sales and Business Development of Microbix, commented, “As clinical laboratory testing advances, especially into the field of molecular diagnostics, the need for quality assessment products is becoming significant, for laboratories and test developers alike. Microbix is pleased to employ its expertise to provide validated third-party products that help address this need.”

Mr. Cameron Groome, CEO and President of Microbix, provided further perspective. “The provision of quality assessment products is a sensible and low-risk extension of the expertise developed in our native antigens business. Expansion of our quality assessment offerings to encompass the PTDx and PROCEEDx™ product lines provides Microbix with growth opportunities within its core competencies and via existing customer relationships, without much need for further capital expenditures. We look forward to reporting on this growth over the coming quarters and years.”

About Microbix Biosystems

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, notably antigens used in immunoassays or quality assessment and proficiency testing products. 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™ cell-sorting, 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of financial results or the outlook for the business, the risks associated with its financial results and stability, its 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.

Please visit www.sedar.com for recent Microbix filings. For further information, please contact:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 or ir@microbix.com

Microbix Reports Full Year And Fourth Quarter Results – Record Sales Of $10.2 Million Achieved For Fiscal 2017

Microbix Reports Full Year And Fourth Quarter Results – Record Sales Of $10.2 Million Achieved For Fiscal 2017

TORONTO, December 21, 2017 – Microbix Biosystems Inc. (TSX: MBX), an innovator of biological products and technologies, reports financial results for its fiscal year and fourth quarter ended 30 September, 2017 (“2017” and “Q4”).

Management Discussion

In 2017, the Company achieved a number of notable milestones, including attaining record sales of over $10 million. Operational achievements included renewing and expanding agreements with key customers, validating the production of our highest-grossing product in a new, efficient bioreactor production platform, achieving the first sales of bioreactor product and preserving the full scope of opportunity for its emerging quality assessment product lines (e.g., REDx Controls™).

However, financial results did not meet initial targets for the year, either on revenues or profits. Negative operational variances were largely due to the following: expenses associated with an unanticipated legal dispute (since resolved to Microbix’ satisfaction as disclosed on October 11), excess second-half (H2) production expenses and a product shipment delay (both related to a processing issue that has been resolved) and management transition costs (CFO in H1, CEO in H2). Collectively, these matters increased annual expenses by approximately $1.4 million and reduced 2017 revenues by over $0.6 million. None of the foregoing matters, or a debt restructuring and a settlement cost, are expected to recur in fiscal 2018.

2017 is therefore best considered as a positioning year, with steps completed that management believes will transform Microbix from single to double-digit sales growth and to sustained profits. Such steps include its announced enlargement of a key customer contract, equity financing and capacity expansion.

2017 Financial Results

Revenues for 2017 were $10,185,798, a 7% increase compared to fiscal 2016. Most revenues were derived from sales of antigen products, with growth driven by increased orders from longstanding customers.   The balance of revenue was derived from royalties on an out-licensed technology, which totalled $293,939.

Gross margin for the year was 47%, down from 52% in 2016 due to the processing issue in H2 that resulted in increased materials requirements, reprocessing expenses and QC/QA costs. Gross margin contribution was $4,812,373, down by $167,671 from fiscal 2016. Operating expenses (excluding debt restructuring and a past settlement cost) increased by $1,480,270 compared to the same period last year, largely due to non-recurring costs relating to a now-resolved legal dispute, bioreactor validation and two senior management changes.

Non-cash financial restructuring costs and costs of a settlement related to a past asset sale impacted profit for the period, reducing it by $2,730,554 and helping to drive a net loss for the period of $3,780,088. Cash provided by operating activities remained positive for the period at $297,047.

Q4 Financial Results

Total Q4 revenue was $2,813,282, a decrease of 19% compared to the same quarter of fiscal 2016. The decrease was largely due to the delay of over $0.6 million in revenues from fiscal Q4 2017 into Q1 2018. Most revenues were derived from sales of antigen products, which are principally used in the manufacture of diagnostic tests for infectious diseases. The balance of revenue was derived from royalties on an out-licensed technology, which totaled $93,662.

Gross margin for Q4 was 39%, a substantial decrease from the 54% achieved in Q3, with the decrease largely caused by the abovementioned processing issue that temporarily impacted both costs and sales. The gross margin contribution for Q4 was likewise reduced, coming in at $1,085,063.

In total, Microbix experienced a net loss for the period of $1,009,911, versus a profit of $862,930 in the fourth quarter of fiscal 2017. Net change in cash for the quarter of ($109,486), was down from Q4 2016 of $325.

Financial Results

Corporate Updates

Viral and Bacterial Antigens

The Company is continuing to upgrade its manufacturing capacity and quality processes to support sales growth of its antigen products and the launch of a new line of quality assurance products for the diagnostics industry. Microbix’ increasing production capability, including a 500% increase in bioreactor capacity, is intended to support the growing needs of its customers – particularly as public-health related immunoassays become more widely used in Asia-Pacific markets.

Kinlytic® urokinase

In April, Microbix consulted with the U.S. Food and Drug Administration (the “FDA”) regarding its plans to return the thrombolytic biologic drug, Kinlytic® urokinase, to market. The Company believes the results of its consultation to be positive and has since been working on detailed costing of the project. Formal partnering outreach with such regulatory and cost clarifications is intended to begin in the New Year.

LumiSort™ cell-sorting technology

Ongoing litigation between the major participants in the animal genetics industry has slowed the progress of partnering discussions relating to this asset. Microbix continues to support the development of its intellectual property relating to LumiSort and is also beginning to explore other commercial applications of the technology.

About Microbix Biosystems

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, notably antigens used in immunoassays or quality assurance and proficiency testing controls. 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™ cell-sorting, 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.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of financial results or the outlook for the business, the risks associated with its financial results and stability, its 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.

Please visit www.sedar.com for recent Microbix filings.

For further information, please contact:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 or ir@microbix.com

Microbix Confirms Ramp-Up Of Production – Bioreactor Capacity Increasing By 500%

Microbix Confirms Ramp-Up Of Production – Bioreactor Capacity Increasing By 500%

TORONTO, November 27, 2017 – Microbix Biosystems Inc. (TSX: MBX), a developer and marketer of biological products and technologies, confirms its production ramp-up, with a 500% increase in bioreactor capacity and other processing upgrades.

Microbix’ revenues are mainly from sales of its antigens as critical components for makers of tests that diagnose infectious diseases. Antigens are traditionally produced in thousands of “roller bottles,” a method requiring considerable space, material and labour. Instead and in a significant advancement, Microbix has developed a production process using “bioreactors,” a state-of-the-art technology that promises better process control and yield, with reduced space, material, and labour per unit of product.

Microbix is now scaling-up its largest-selling product into bioreactors, going from one production-oriented bioreactor to six and transferring the process from development to manufacturing. All six units have been delivered and will enter production in early 2018. A multi-month production cycle means that the full benefit of the bioreactors will be realized in the fiscal year ending September, 2019.

Additionally, Microbix is enhancing its downstream processing capacity, including a doubling of the power supply to its facility. Such modifications are also needed to support sales growth.

Collectively, these changes should enable Microbix to meet increasing demand for its products, by way of increased bioreactor capacity, enabling the reallocation of facility space to more production of other antigens and enhanced downstream processing capacity. These changes are intended to enable the double-digit sales growth now targeted by Microbix.

Phil Casselli, SVP of Sales and Business Development, commented on the significance of these changes, “Increasing our production capacity should enable us to fulfill our customers’ growing need for high-quality antigens. We appreciate our customers’ support during this transition.”

Cameron Groome, CEO and President, provided perspectives for shareholders, “The use of bioreactors is necessary to increase sales and profitability and to realize the full potential of our antigens business. Our adoption of bioreactors for production and increasing our downstream processing capacity are evidence that our growth initiatives are fully underway.”

About Microbix

Microbix Biosystems Inc. develops and commercializes proprietary biological and technology solutions for human health and wellbeing. Microbix manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assurance and proficiency testing controls. The company also applies its biological expertise to develop other innovative and proprietary technologies and products. Its development pipeline currently includes two such proprietary products: (1) Kinlytic® Urokinase, a biologic thrombolytic drug used to treat blood clots, and (2) LumiSort™, a technology 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 is based in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the expected productivity of its bioreactors, trends in product demand or planned capacity increases or projects, financial results and stability, Microbix’ biologicals business and its new product lines, 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 ir@microbix.com

Microbix Completes Second Tranche Of Brokered Private Placement Tranche Gross Proceeds Of $1,164,640, Total Proceeds Of $3,500,000

Microbix Completes Second Tranche Of Brokered Private Placement Tranche Gross Proceeds Of $1,164,640, Total Proceeds Of $3,500,000

TORONTO, October 27, 2017 – Microbix Biosystems Inc. (TSX: MBX) (“Microbix” or the “Company”), a developer and marketer of biological products and technologies, announces that it has completed a second and final tranche of the brokered private placement financing announced on October 19, 2017. An aggregate of 7,784,500 Units were issued in the first tranche for gross proceeds of $2.33 million. Microbix has now closed a second tranche of private placement financing for further gross proceeds of $1.17 million, resulting in the issue of 3,882,133 more Units at a price of $0.30 per Unit.

Each Unit consists of one common share (“Common Share”) of Microbix and one-half of one warrant to purchase one Common Share. Each whole warrant (“Warrant”) entitles the holder to purchase one additional Common Share at a price of $0.36 for three years.

The proceeds of the private placement will be used to fund upgrades to production facilities such as additional bioreactor equipment, support the commercialization of quality assurance or proficiency control products and provide further working capital.

Cameron Groome, President and CEO of Microbix, commented “These proceeds will support our initiatives to build sales, enhance earnings and increase shareholder value.”

Dominick Capital Corporation (“Dominick”) acted as lead agent in connection with the private placement. Dominick and its selling group members received cash commission of $73,054.80 and an aggregate of 243,516 agent warrants (the “Agent Warrants”) in connection with second tranche of the private placement. Each Agent Warrant entitles the holder to purchase one Common Share at a price of $0.335 per Common Share for two years.

All securities issued under the private placement will be subject to a hold period expiring four months and one day from the date of closing. The private placement was carried out pursuant to prospectus exemptions and is subject to final acceptance by the TSX.

A Company insider (“Insider”) subscribed for an aggregate of 333,334 Units of this second tranche, for gross proceeds of $100,000. The participation of Insiders in the private placement constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and the policies of the TSX. The Company is relying on the exemptions from the formal valuation and minority approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the private placement by Insider will not exceed 25% of the fair market value of the Company’s market capitalization. The Company did not file a material change report at least 21 days prior to the completion of the private placement since the existence of any placement or Insider’s participation therein was not determined at that time.

About Microbix

Microbix Biosystems Inc. develops and commercializes proprietary biological and technology solutions for human health and wellbeing. Microbix manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assurance and proficiency testing controls. The company also applies its biological expertise to develop other innovative and proprietary technologies and products. Its development pipeline currently includes two such proprietary products: (1) Kinlytic® Urokinase, a biologic thrombolytic drug used to treat blood clots, and (2) LumiSort™, a technology 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 is based in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the planned uses of proceeds of the described private placement, trends in product demand or planned capacity increases or projects, financial results and stability, Microbix’ biologicals business and its new product lines, 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 ir@microbix.com

Microbix Completes Brokered Private Placement – Gross Proceeds Of $2.3 Million

Microbix Completes Brokered Private Placement – Gross Proceeds Of $2.3 Million

TORONTO, October 19, 2017 – Microbix Biosystems Inc. (TSX: MBX) (“Microbix” or the “Company”), a developer and marketer of biological products and technologies, announces that it has completed a brokered private placement financing totaling $2.33 million dollars, resulting in the issue of 7,784,500 million units (“Units”) at a price of $0.30 per unit.

Each Unit consists of one common share (“Common Share”) of Microbix and one-half of one warrant to purchase one Common Share. Each whole warrant (“Warrant”) entitles the holder to purchase one additional Common Share at a price of $0.36 per Common Share for three years.

The proceeds of the private placement will be used to fund upgrades to production facilities such as additional bioreactor equipment, support the commercialization of quality assurance or proficiency control products and provide further working capital.

Cameron Groome, President and CEO of Microbix, commented, “We see strong growth in demand for Microbix’ antigen and control products. This private placement financing will help ensure that we meet the needs of our customers and create greater value for shareholders.”

Dominick Capital Corporation (“Dominick”) acted as lead agent in connection with the private placement. Dominick and its selling group members received cash commission of $153,675 and an aggregate of 512,248 agent warrants (the “Agent Warrants”). Each Agent Warrant entitles the holder to purchase one Common Share at a price of $0.335 per Common Share for two years.

All securities issued under the private placement will be subject to a hold period expiring four months and one day from the date of closing. The private placement was carried out pursuant to prospectus exemptions and is subject to final acceptance by the TSX.

Directors and officers of the Company (collectively, the “Insiders”) subscribed for an aggregate of 416,665 Units, for gross proceeds of $125,000. The participation of Insiders in the private placement constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and the policies of the TSX. The Company is relying on the exemptions from the formal valuation and minority approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the private placement by Insiders will not exceed 25% of the fair market value of the Company’s market capitalization. The Company did not file a material change report at least 21 days prior to the completion of the private placement since the existence of any placement or Insiders’ participation therein was not determined at that time.

About Microbix

Microbix Biosystems Inc. develops and commercializes proprietary biological and technology solutions for human health and wellbeing. Microbix manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assurance and proficiency testing controls. The company also applies its biological expertise to develop other innovative and proprietary technologies and products. Its development pipeline currently includes two such proprietary products: (1) Kinlytic® Urokinase, a biologic thrombolytic drug used to treat blood clots, and (2) LumiSort™, a technology 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 is based in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the planned uses of proceeds of the described private placement, trends in product demand or planned capacity increases or projects, financial results and stability, Microbix’ biologicals business and its new product lines, 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 ir@microbix.com

Microbix Announces End Of Legal Dispute – Allegations By ZeptoMetrix Withdrawn

Microbix Announces End Of Legal Dispute – Allegations By ZeptoMetrix Withdrawn

OCTOBER 11, 2017

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 customer.service@microbix.com or by telephone at 905-361-8910

About Microbix

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.

Forward-Looking Information

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 contact:

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 or ir@microbix.com

Microbix Provides Bioreactor Update

Microbix Announces First Shipment Of Bioreactor Antigen

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.”

About Microbix

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.

Forward-Looking Information

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 ir@microbix.com

Microbix To Amend Share Purchase Warrant Terms

Microbix To Amend Share Purchase Warrant Terms

TORONTO August 24 2017 – Microbix Biosystems Inc. (TSX: MBX), a developer and marketer of biological products and technologies, announces it has applied to the TSX to amend the terms of 1,500,000 common share purchase warrants (the “Warrants”) issued in connection with a non-brokered private placement and held by one of its independent directors.

The Warrants were issued in relation to a non-brokered private placement of units comprised of one common share and a common share purchase warrant, completed on August 21, 2014. Each Warrant currently entitles the holder to purchase one common share of Microbix at a price of $0.55 until August 21, 2019. Microbix has applied to the TSX to amend the exercise price of the Warrants to $0.32, and to extend their term to August 21, 2021.   The five day volume-weighted average price of Microbix’ share is $0.28 as at the date of TSX application.

The Warrants were acquired by Mr. Joseph D. Renner in relation to his participation in the 2014 private placement. Mr. Renner, has been an independent member of Microbix’ board of directors since 2003 and, like Microbix’ other independent directors, has invested significant time in the course of executing his responsibilities: Notably, while he has participated in many directors’ meetings over the past 30 months, he has taken no cash or option compensation in that interval.

“The warrant repricing application announced today is intended to acknowledge Mr. Renner’s services to Microbix without increasing our fully-diluted share count.” said William J. Gastle, Executive Chairman, “We need to encourage the active participation of the board members who can help us accelerate the growth of Microbix while remaining responsible to our shareholders. We believe this application serves both those imperatives.”

Mr. Renner will not be permitted to exercise the Warrants under the amended terms unless and until disinterested shareholder approval is obtained, along with TSX approval. Disinterested shareholder approval will be sought at the next annual meeting of shareholders, anticipated to be held in early 2018.

The Toronto Stock Exchange (TSX) does not accept responsibility for the adequacy or accuracy of this release.

About Microbix

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.

Forward-Looking Information

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 leadership and governance, 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 ir@microbix.com

Microbix Reports Record Third Quarter & Nine Month Sales – Year-Over-Year Sales Growth Exceeding 20%

Microbix Reports Record Third Quarter & Nine Month Sales – Year-Over-Year Sales Growth Exceeding 20%

TORONTO, August 14, 2017 – Microbix Biosystems Inc. (TSX: MBX), an innovator of biological products and technologies, today reports financial results for its fiscal third quarter and nine months ended June 30, 2017 (“Q3” and “9 Mo.”).

Third Quarter Financial Results

Total Q3 revenue was $2,773,365, an increase of 23% compared to the same quarter of fiscal 2016. Most revenues were derived from sales of antigen products, which are principally used in the manufacture of diagnostic tests for infectious diseases. Growth was driven by increased antigen orders from longstanding customers, with double-digit increases in sales of multiple products. The balance of revenue was derived from royalties on an out-licensed technology, which totaled $67,954.

Gross margin for Q3 was 54%, an increase of 3% over the same quarter of 2016 and an indicator of ongoing work to optimize product pricing. The gross margin contribution for Q3 was $1,497,787, an increase of $340,926 from the same quarter of 2016. Operating expenses increased by $363,948 compared to the third quarter last year, with the increase largely due to ongoing costs related to validation of Microbix’ new bioreactor manufacturing process and to the emerging molecular controls product line.

In total, the Company experienced a net profit for the period of $188,646, representing an increase of 293% from the same quarter of 2016, with the increase largely due to non-cash debt and tax recoveries in 2017. Cash provided by operating activities was also positive at $291,596 for Q3, down from $501,463 in 2016 due to increased operating expenses and deduction of the non-cash financial recoveries.

Nine-Month Financial Results

Revenues for the 9 Mo. were $7,372,516, a 22% increase compared to fiscal 2016. Most revenues were derived from sales of antigen products, with growth driven by increased orders from longstanding customers.   The balance of revenue was derived from royalties, which totaled $200,276.

Gross margin for the 9 Mo. was 51%, up by 4% over 2016 and again indicative of ongoing price optimization. 9 Mo. gross margin contribution was $3,727, 310, up by $879,820 from 2016. Operating expenses (excluding debt restructuring and settlement costs) increased by $1,054,158 compared to the same period last year, largely due to ongoing bioreactor validation and molecular controls costs.

Non-cash financial restructuring costs impacted profit for the period, reducing it by $2,379,776 and resulting in a net loss of $2,770,177. Cash provided by operating activities was positive at $744,859 for the 9 Mo., for an increase of 56% from 2016.

Cameron Groome, CEO & President of Microbix remarked, “These record sales demonstrate the excellent prospects for Microbix’ business of supplying vital components to the diagnostics industry. Wider global adoption of public health tests is driving increased product demand by our customers. At the same time we are working to expand our capacity and improve production efficiency by the use of bioreactors. With demand, capacity and margins all positioned to improve, we aim to accelerate sales and profit growth.”

Corporate Updates

Virology

The Company is upgrading its manufacturing and quality processes to support sales growth of its antigen products and the launch of a new line of molecular control products. The Company is also investing to build capacity to support expanding sales to customers, including in the Asia Pacific region in partnership with Meridian Life Sciences.

Kinlytic® urokinase

In April, Microbix consulted with the U.S. Food and Drug Administration (the “FDA”) regarding its plans to return the thrombolytic biologic drug, Kinlytic® urokinase, to market. The Company believes the results of its consultation will accelerate its work to partner this asset, complete a re-launch program and submit an application for re-approval in the U.S. market.

LumiSort™ cell-sorting technology

Ongoing litigation between the major participants in the animal genetics industry has slowed the progress of partnering discussions relating to this asset. Microbix continues to support the development of its intellectual property relating to Lumisort and is also beginning to explore other commercial applications of the technology.

About Microbix Biosystems

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™ cell-sorting, 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.

Forward-Looking Information

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 financial results and stability, its 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 ir@microbix.com