TORONTO (June 5, 2008) – Microbix Biosystems Inc. (TSX:MBX) announced today that it has received its third, new signed Letter Of Intent regarding Microbix’ proprietary influenza vaccine yield enhancement technology.
The LOI is from a significant, global manufacturer of influenza vaccine that will evaluate VIRUSMAX™ that, as other independent tests have shown, can enable manufacturers to at least double the amount of influenza vaccine they produce. A successful evaluation could lead to a definitive agreement on licensing the technology.
In addition to the existing three LOI’s in place, Microbix is in late stage discussions with two other organizations. “We are seeing momentum in this area of our business, and we anticipate further opportunities in 2008 as the world becomes increasingly concerned about the risks of a pandemic,” said William J. Gastle, CEO of Microbix.
Currently, there are only four countries that produce enough vaccine to immunize their own populations – Canada, France, Belgium and Australia. Every other country lacks the manufacturing capacity to meet domestic needs. By boosting production yields, VIRUSMAX™ can help countries reduce dependence on imported supplies.
Microbix has been granted patents on VIRUSMAX™ in China, the U.S., India, Canada and Australia. A number of other patent applications in major markets are currently pending.
Microbix specializes in developing proprietary biological technologies, including biotherapeutic drugs, vaccine technologies and animal reproduction technologies. It has been researching and developing the flu vaccine yield enhancement technology for a number of years, with a team at the company’s Toronto laboratories spearheading these efforts.
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 the inability for third parties to replicate the laboratory results, limited application of laboratory results to commercialization of the Vaccine Technology such as vaccine manufacturers being unable to make changes to their production process or not realizing a yield that, in their opinion, makes the process economical, among others. 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:
William J. Gastle
CEO, Microbix Biosystems Inc.
416-234-1624 x 230
Jim Long
CFO, Microbix Biosystems Inc.
416-234-1624 x 265