TORONTO (July 8, 2008) – Microbix Biosystems Inc. (TSX:MBX) announced today that it has submitted new provisional patents for inventions relating to its Semen Sexing Technology™ (SST™).
SST™ allows commercial breeders to pre-determine the sex of livestock offspring resulting from artificial insemination. For example, dairy farmers will use SST™ to breed primarily female animals for their milking herds. Likewise, the technology will assist beef producers in producing primarily male animals required for meat production. The global artificial insemination market is currently valued at over $2.5 billion.
The new patent submissions describe new inventions, devised during the course of SST™ development, that would significantly strengthen Microbix’ proprietary process for separating X and Y chromosome-containing sperm. Potential benefits include lower production costs, higher yields, and higher sexed-semen quality.
Microbix reported earlier this year that it was going to invest more time in building on its findings as additional sex specific proteins had been discovered. “This was time well spent, as evidenced by today’s announcement,” said William J. Gastle, Chairman and CEO of Microbix.
“We plan to continue this vital work which is expanding our technology portfolio and our avenues for commercialization,” Gastle added. “SST™ has the potential to play an important role in helping to feed an increasingly hungry world by promoting the efficient growth of beef and dairy industries.”
About Microbix
Established in 1988, Microbix specializes in developing proprietary biological technologies and commercializing them through global partners. The company has previously announced the signing of exclusive and nonexclusive licensing agreements for SST™ technology with partners worldwide. The company recently announced the signing of a definitive agreement for the construction of a $200 million influenza virus vaccine facility with the government of Hunan Province in China, incorporating its VIRUSMAX™ Technology which significantly boosts the yield of influenza virus from eggs. Microbix is also pursuing the production and marketing of Urokinase, a thrombolytic biologic that can be used as a catheter clearing drug and has potential in new cancer drug combination.
Disclaimer
This press release contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, such as the risks associated with obtaining patent protection in various jurisdictions, the risks associated with efficacy and reliability of the technology, and the risks associated with developing and commercializing the technologies. These forward-looking statements represent the Company's judgment as of the date of this press release. The Company disclaims any intent or obligation to update these forward-looking statements.
For further information: visit www.microbix.com or contact:
Phil Casselli
President, Microbix Biosystems Inc.
416-234-1624 x 224
Robert Stephens
PR POST
416-777-0368