Microbix Honours the Passing of its Founder

MISSISSAUGA, Ontario, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQX: MBXBF, Microbix®), a life sciences innovator, manufacturer, and exporter, honours the passing of its founder, William J. (Bill) Gastle, surrounded by family in Edmonton, Alberta on September 6, 2023.

Bill trained as a virologist and founded Microbix in 1984. The Company began with the sale of bacterial and cellular growth media to Canadian public health laboratories. It was soon entrusted with culturing different pathogens of concern for those labs and later with producing them as critical ingredients for infectious disease test developers around the world. Today, Microbix is a manufacturer of not only vital test ingredients, but of a wide range of medical devices that help ensure the accuracy of diagnostic tests.

Bill served as Microbix’s CEO for 28 years and as a director for 36 years. Bill retired in October, 2020, after which he and his wife Susan moved west to be closer to their son, Angus, and his family.

Martin Marino, Independent Chairman of Microbix, expressed condolences on behalf of the Board, “Bill was a courageous entrepreneur who loved leading a team of talented people in exploring new ideas and opportunities. I will remember him most as a world-class advocate for the return of Kinlytic urokinase, a life supporting thrombolytic drug. I have always believed that his unwavering dedication to the Kinlytic project was based much more on humanitarianism than financial reward, and that the world will one day be blessed by this enduring legacy. Bill’s contributions to Microbix are immeasurable and, alongside his family, we’ll sorely miss his good cheer, wit, and intelligence.”

Cameron Groome, CEO and President of Microbix, also commented on behalf of management and staff, “Beyond excellence in science and innovation, Bill created a culture of honesty, loyalty, and caring. His leadership and vision will live on at Microbix, which remains an irreplaceable reservoir of Canadian life sciences expertise and the longest-standing locally-headquartered public company in this field.”

Everyone at Microbix wishes the best to the Gastle family at this difficult time.

A service in memory of William J. (Bill) Gastle will be held at the A.W. Mackenzie Chapel at Lakefield College School, located at 4391 County Rd 29, Lakefield, Ontario on Saturday, October 14th, 2023 at 2:00 pm EST with a reception following the service.

About Microbix Biosystems Inc.

Microbix Biosystems Inc. creates proprietary biological products for human health, with over 100 skilled employees and annualized sales targeting C$ 2.0 million per month. It makes a wide range of critical ingredients and devices 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. Its antigens drive the antibody tests of approximately 100 diagnostics makers, while QAPs are sold to clinical lab accreditation organizations, diagnostics companies, and clinical labs. Microbix QAPs are now available in over 30 countries, supported by a network of 10 international distributors. Microbix is ISO 9001 & 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 medium (DxTM™) 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 OTCQX, 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 Bill Gastle and his accomplishments, Microbix’s or others’ products or services, business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced in its presentations, regulatory compliance and approvals, sales to foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity or timeliness of delivery), currency exchange rates, maintaining adequate working capital or raising new capital on acceptable terms or at all, and other similar statements about 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. Microbix cautions that all forward-looking information is inherently uncertain and actual performance may be affected by a number of material factors, many of which are beyond its 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 Microbix’s judgement as of the date of this new release, and it is under no obligation to update or alter any forward-looking information.

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Microbix®, DxTM™, Kinlytic®, and QAPs™ are trademarks of Microbix Biosystems Inc.</sup>