Microbix Announces Management Changes

TORONTO, April 18, 2019 (GLOBE NEWSWIRE) -- 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.

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