Microbix Wins Ontario Business Award
2019 “OBAA” for Excellence in Export Strategy
MISSISSAUGA, Ontario, Nov. 18, 2019 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices (QAPs™) that help ensure test accuracy, announces it has been awarded the “Beyond Borders” Ontario Business Achievement Award (OBAA) for 2019 by the Ontario Chamber of Commerce (OCC).
The award was presented at the OCC OBAA gala the evening of November 14 and recognizes success in developing and implementing innovative export strategies that positively drive its business. Microbix was also runner-up in OCC’s “Excellence in Innovation” category. Over 95% of Microbix’s sales are exports, directed principally to the United States, European Union, and Asia-Pacific markets. In 2019, Microbix completed scale-up of a novel, bioreactor-based technology for production of a critical “native antigen” ingredient. It has also succeeded in registering its first QAPs as medical devices in the United States and the European Union. Under the PTDx™, PROCEEDx™ and REDx™ Controls brands, its QAPs are being offered to international laboratory accreditation organizations, test makers, and clinical laboratories.
Microbix’s critical ingredients enable the production of tests that detect the level of patients’ antibodies to infectious diseases. Results of such tests provide medically-important information concerning exposure to, and immunity to, relevant pathogens. Microbix supplies such ingredients (native antigens) to over 100 multinational companies that make such “immunodiagnostic” tests.
Additionally, Microbix creates quality assessment products (QAPs) containing both native antigens and intact nucleic-acids. Regulated as medical devices, QAPs provide safe and reliable means of supporting the calibration and accuracy of complex medical tests – across both the immunologic and molecular diagnostic categories. Microbix’s QAPs are provided to laboratory accreditation organizations to support their proficiency testing programs, to test makers to support product development, instrument validation and technician training, and to clinical laboratories to support their quality management systems.
Ken Hughes, COO and Mark Luscher, SVP of Scientific Affairs, attended the event and comment on behalf of Microbix: “We greatly appreciate this OBAA award from the Ontario Chamber of Commerce. It is very gratifying that the progress we’ve made at Microbix is being recognized by our peers. As always, we thank all that support us, including our employees, customers, suppliers, financial partners, the City of Mississauga, the Province of Ontario, and the Government of Canada.”
The OCC mission is to advocate for growth and prosperity on behalf of its 60,000 Ontario members. Its vision is to foster a vibrant and economically-sustainable province that is driven by an innovative, successful, and ever-expanding business community. The OCC represents chambers of commerce and boards of trade in communities across Ontario and steers policy conversations provincially and locally.
About Microbix Biosystems
Microbix develops proprietary biological and technology solutions for human health and well-being, with sales now exceeding $1 million per month and 80 skilled employees. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure quality control of clinical diagnostic tests. Microbix antigens and QAPs are sold to many customers worldwide, at present primarily to multinational diagnostics companies and laboratory accreditation organizations.
Microbix also applies its biological expertise and infrastructure to create other proprietary new products and technologies. Currently it is has two; (1) Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of cells or other particles.
Microbix is a publicly-traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.
Forward-Looking Information
This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of the OCC and OBAA, the actuality, meaning or consequences of any award, Microbix’s business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced in its corporate presentation, regulatory compliance and approvals, 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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For further information, please contact:
Company Contacts:
Cameron L. Groome, CEO
(905) 361-8910
Jim Currie, CFO
(905) 361-8910
Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793
