TORONTO, Oct. 20 , 2010/CNW/ - Microbix Biosystems Inc. (MBX:TSX), a biotechnology
company focused on virology and biological technologies, reported strong worldwide sales of $1.9
million for the fourth quarter of 2010 ending September 30th (unaudited) fueled by a 15% increase
in virology product volume and a 20% increase in demand for its pharmaceutical-grade water
This growth was driven by increased demand for Microbix’ products following an increase in new
diagnostic kit launches by its customers and Microbix’ entry into the market for laboratory
proficiency testing for viruses in clinical samples. In the quarter, Microbix also expanded into the
pharmaceutical solutions market for formulating drugs, for which the Company expects significant
Based on the strong sales growth at the close of this fiscal year, Microbix projects a 15% increase in
worldwide sales for 2011 based on current currency rates.
William J. Gastle, Microbix' Chief Executive Officer, said: "Our strong sales for the quarter and our
projected 15% sales increase for next year are based on the Company’s decision a few years ago to
risk financing and building a new innovative production facility which more than tripled our
manufacturing capacity. This new facility has allowed Microbix to produce new products, add new
customers and increase product shipments by 40% compared to 2008. It will serve us well as we
expect significant growth in the next few years."
To better position its sales force for growth, Microbix has focused its customer outreach on four
markets: The United States, Europe, Southeast Asia and China. The Company has brought in
experienced representation to grow these markets and the effort has already begun to show results.
With the $2 million investment commitment from a large animal genetics company in the fourth
quarter, Microbix livestock semen selection technology stepped closer to its market introduction of
LumiSort™. The $ 500,000 upfront payment financed all LumiSort™ activities in fiscal 2010. The
Company is in the latter stages of financing of the influenza vaccine production facility in Hunan,
China, which will utilize the VIRUSMAX™ technology in its manufacturing process. Discussions
with potential partners for the Urokinase thrombolytic drug Kinlytic® are continuing and the
Company hopes to be able to announce news in the near future.
Microbix Biosystems Inc. specializes in the development of biological technologies and
commercializing them through global partners. The Company has intellectual property in large market biotherapeutic drugs, vaccine technologies and animal reproduction technologies.
Established in 1988, Microbix is headquartered in Toronto.