TORONTO, June 23, 2011 /CNW/ - Microbix Biosystems Inc. (TSX: MBX), today announced receipt of a notice from the United States Patent and Trademark Office, allowing all claims of its first pending U.S. patent application for LumiSort™ sperm sexing technology for the livestock industries. Microbix’ LumiSort eliminates the speed and quality barriers that have limited the production and use of sex-sorted sperm, and promises to bring fundamental change to reproductive biology for the livestock industries, with large-market impact in the dairy and beef sectors worldwide. Microbix will exercise its option to request the issuance of the LumiSort patent once it has completed additional strategic steps to further strengthen the file.
William J. Gastle, Microbix’ Chief Executive Officer said, “Securing allowance for all claims of the U.S. LumiSort application is a critical step that significantly enhances the value of the LumiSort intellectual property. This milestone comes at an important juncture for LumiSort as a game-changing development in sperm cell selection as we move aggressively toward commercialization by 2012.”
Microbix continues to execute its worldwide intellectual property strategy for LumiSort, including pursuing related patent applications that are pending in jurisdictions worldwide. Additionally, Microbix has announced recent patent application filings that build upon and extend Microbix’ intellectual property ambitions in this area, incorporating further developments from Microbix’ research and development efforts.
Engineering studies have supported Microbix’ prediction that LumiSort technology will enable the analysis and separation of sperm cells up to 10 times faster, and with higher yield, than current market technology. LumiSort advances the state of the art in cytometry (the science of single-cell sorting) by replacing performance-limiting elements in the conventional cell sorter design. Further, the technology will be gentler to cells, leading to significant improvements in fertility, which is an important predictor of market adoption of sexed semen. The improved yield and fertility will also permit LumiSort to complement and accelerate genomics programs and embryo-based reproductive strategies by permitting the precise determination of sex in accordance with the requirements of an optimized breeding program.
Now within 18 months of launch, the company is accelerating its program to sign license agreements with additional distributors of products for livestock reproduction.
In 2010, Microbix announced a partnership with one of the largest suppliers of livestock reproduction products in the world, which has invested in the program through a milestone-based, $2 million investment, and will rapidly deploy LumiSort into their markets. This year, Microbix announced the engagement of Lathrop Engineering Inc., a leading Silicon Valley technology development company, toward the engineering and delivery of the LumiSort instrument.
About Microbix Biosystems Inc.
Microbix Biosystems Inc. specializes in the development and commercialization of novel technologies for livestock semen sexing and other innovative biologics, 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.
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 including the risks associated with commercializing technologies, including sales which may not reach sales targets or be made at all, there is no guarantee that the Company will complete development of any technology and if it does that it will perform to commercially exploitable levels, other technologies may emerge before any technology developed by the Company enters the market, royalty rates may not be achievable, markets may not sustain demand for any product should world economies shift significantly, market utilization rates may not be reached, market value of products may vary, product launch dates and market utilization timetables may not be met; risks associated with the ability to license LumiSort to industry; risks associated with failure to develop and commercialize LumiSort; non-adoption of LumiSort; competition in the animal reproduction and related markets; reliance by Microbix on third parties for the development and manufacture of the LumiSort instrument; general economic conditions; intellectual property risks including challenges to protecting the Company’s intellectual property rights; patents may not provide adequate protection of the Company’s intellectual property, may not be successfully prosecuted and may be subject to challenge and risks of infringement of third party rights; risks of operating in foreign jurisdictions, including operating in countries with evolving legal and economic infrastructure; high rates of inflation; changes in taxation policies, and Microbix’ ability to attract and retain qualified employees and management. 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.
Visit www.microbix.com or contact: William J. Gastle
CEO
(416) 234-1624 x 230; or James Long
CFO
(416) 234-1624 x 265.