Microbix receives $ 4.7 million order for viral transport, follow-up order from Ontario government procurement authorities
MISSISSAUGA, Ontario, December 24, 2021 (GLOBE NEWSWIRE) – Microbix Biosystems Inc. (TSX: MBX, OTCQX: MBXBF, MicrobixÂ®), a life sciences innovator and exporter, announces that it has received a call-up of C $ 4.7 million for its viral transport medium (commonly known as “”VTM“and marked”DxTM â¢by Microbix). DxTM is an essential sample collection device for PCR-based testing for viruses that cause COVID-19 disease. This new order was taken by a purchasing authority representing the province of L ‘Ontario.
This entire order for DxTM is binding and is expected to generate C $ 1.75 million in revenue in the first quarter of fiscal 2022 ending December 31, 2021. The remainder of the order will be delivered during the second and third quarters of fiscal year 2022; quarters ending March 31 and June 30, 2022, respectively.
Microbix DxTM provides a secure, Ontario-made supply of the highest quality MTVs in strategically relevant quantities. Specifically, DxTM now supports the collection of COVID-19 samples by laboratories, pharmacies, public health units and school systems across Ontario. Microbix remains the sole national manufacturer of MTVs in Ontario and sources essential raw materials from suppliers based in Canada.
The development of DxTM was supported by a grant from the Ontario Together Fund (OTF) of the Ministry of Economic Development, Job Creation and Trade (MEDJCT) and by a loan from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). Microbix is âânow expanding its production of DxTM through full automation of its filling, capping and labeling processes, with implementation to be completed at Microbix’s third site in Mississauga in spring 2022. Such scale-up will allow Microbix to deliver a greater proportion of Ontario’s needs while also becoming able to offer meaningful DxTM supplies to federal and other provincial agents, as well as to laboratories. private testing.
DxTM provides excellent viral recovery and long product shelf life, in vials sized to accommodate swab segments up to 10cm in length. DxTM product information is available at https://microbix.com and purchase requests can be sent by email to [email protected] Clinical laboratories are also encouraged to use the “PAQâ¢ âIVD checks for COVID testing, including for variants of concern and antigen testing.
Dr. Ken Hughes, Chief Operating Officer of Microbix, commented: âWe are very pleased to be able to respond quickly to Ontario’s needs for essential health products such as our DxTM viral transport medium and QAPs test controls. IVD – reliably delivering when and where these vital products are needed most. The highest-quality, safe domestic innovation and manufacturing provided by Microbix not only helps guard against supply disruptions, but also helps create health and prosperity for Ontarians and Canadians. Microbix is ââalso excited to note that we will soon be hiring our 100th full-time employee and plan to continue to grow our team of qualified life science professionals here in Mississauga. “
About Microbix Biosystems
Microbix develops proprietary biotech solutions for human health and well-being, with approximately 100 skilled employees and revenues of nearly C $ 2.0 million per month. It manufactures a wide range of critical biological materials for the global diagnostic industry, including antigens for immunoassays and its Laboratory Quality Assessment (QAP â¢) products that support clinical laboratory proficiency testing. , allow the development and validation of tests, or help ensure the quality of clinical diagnosis. workflow. Microbix antigens enable antibody testing of more than 100 international diagnostic companies, while its QAPs are sold to clinical laboratory accrediting bodies, diagnostic companies and clinical laboratories. Microbix PAQs are now available in over 30 countries, distributed by 1WA (Oneworld Accuracy Inc.), Alpha-Tec Systems, Inc., Diagnostic International Distribution SpA., Labquality Oy, The Medical Supply Company of Ireland, R-Biopharm AG , SDT Molecular Pte Ltd, Seegene Canada Inc. and Thomas Scientific LLC. Microbix is ââISO 9001 and 13485 accredited, US FDA registered, Australian TGA registered, Health Canada approved, and supplies CE marked products.
Microbix is ââalso applying its biological expertise and infrastructure to develop other proprietary products and technologies, including Viral Transport Support (DxTM â¢) to collect patient samples for molecular diagnostic laboratory testing and KinlyticÂ® urokinase, a biological thrombolytic medicine used to treat blood clots. Microbix is ââlisted on the Toronto Stock Exchange and the OTCQX and its head office is located in Mississauga, Ontario, Canada.
This press release includes “forward-looking information” as that term is defined in applicable securities laws. Forward-looking information includes, but is not limited to, a discussion of VTM or PAQ orders and their suitability or timing, Microbix business and business results, objectives or prospects, risks associated with performance and financial 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 of costs, quality, quantity and delivery times), foreign currency and exchange rates, maintaining adequate working capital and raising additional capital on acceptable terms or not at all, and other similar statements regarding events, conditions or results anticipated futures that are not historical facts. These statements reflect the current estimates, beliefs, intentions and expectations of management; 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 important factors, many of which are beyond the control of the Company. Therefore, 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 press release and represent the judgment of the Company as of the date of this new press release, and the Company has no obligation to update or change any forward-looking information.
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MicrobixÂ®, DxTM â¢, KinlytiqueÂ®, and QAPs â¢ are registered trademarks of Microbix Biosystems Inc.