Microbix & Copan Italia Execute Strategic Agreement

MISSISSAUGA, Ontario and BRESCIA, Italy, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix^®), a life sciences innovator and exporter, and Copan Italia S.p.A. (Copan^®), the global leader in specimen collection technologies, announce their execution of a strategic agreement (Agreement) in relation to Microbix’s quality assessment products (QAPs™) and Copan’s flocked devices (FLOQ^®).

The Agreement between Microbix and Copan expands upon an existing purchase and supply contract, adding licensing of Copan’s issued patents for use of flocked devices to format test controls (broadly known as QAPs). Also, it formalizes the parties’ agreement for joint usage of their respective brands for marketing of novel and innovative QAPs – Combining Copan’s well-known FLOQ^® brand with Microbix’s emerging PROCEEDx™ (RUO) and REDx™ (IVD) brands – to use PROCEEDx™ FLOQ^® and REDx™ FLOQ® as worldwide branding for active co-marketing of leading-edge FLOQSwab-formatted QAPs by Microbix and Copan.

Twelve such FLOQ-based QAPs SKUs have already been created and introduced into one or more of Australia, Canada, the European Union, Scandinavia, the United States, or the United Kingdom. Of those, fully IVD-regulated REDxFLOQ controls are now available to support lab-based molecular-test workflows for the SARS-CoV-2 virus (the cause of COVID-19 disease). Microbix also intends to license/register REDxFLOQ versions of its growing PROCEEDxFLOQ portfolio, including for workflow support of SARS-CoV-2 antigen testing, Flu A, Flu B, and RSV, then for other pathogen tests for which patient samples are collected on FLOQSwabs. To date, approximately 50,000 units of FLOQSwab-based QAPs have been sold.

Stefania Triva, CEO of Copan, commented, “We’ve been working with the Microbix team for some time now and the mutual trust that has been developed has led to an agreement that will broadly assist the diagnostics industry. Additionally and as a result of our collaboration with Microbix, Copan FLOQ devices are now becoming recognized as the best way of supporting lab quality management system objectives, as much as Copan FLOQSwab-based products are the preferred means of patient-sample collection.”

Cameron Groome, CEO & President of Microbix, remarked, “We’re honoured that Copan is entrusting us to represent the FLOQ brand through our innovative and proprietary QAPs. We believe the collaboration between our companies will improve lab testing accuracy in countries around the world – not just during the current pandemic, but for many decades to come. Also, we thank Stefania and the Copan technical, operational, business, and legal teams for their work on this agreement – it continues to be a pleasure.”  

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with about 80 skilled employees and sales growing from a base of approximately $1 million per month. 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 the quality of clinical diagnostic workflows. Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs are now available in over 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides CE marked products.

Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably viral transport media to stabilize patient samples for lab-based molecular diagnostic testing and Kinlytic^® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.

About Copan Italia S.p.A. and Copan Group         

Founded in 1979 by the late Giorgio Triva, Copan Italia S.p.A. is based in Brescia, Italy and has subsidiaries in all continents, with manufacturing operations in Italy, the United States, and China. Copan has become the global leader in specimen collection, transport, and automated workflow systems, having created a suite of products that revolutionized bacteriology, virology, and molecular biology test pre-analytics based on the patented FLOQSwab^® technology. Further information about Copan Group is available on its website, .

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, all discussion regarding the referenced Agreement, Copan or the views of its representatives, 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 domestic or 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.

Copyright © 2020 Microbix Biosystems Inc.

Microbix^®, Kinlytic^®, PROCEEDx™, QAPs™, and REDx™ are trademarks of Microbix Biosystems Inc.

COPAN^®, FLOQ^®, and FLOQSwab^® are trademarks of Copan Italia S.p.A.

PROCEEDx™FLOQ^® and REDx™FLOQ^® are trademarks of Microbix Biosystems Inc. in collaboration with Copan Italia S.p.A.