Microbix Biosystems Inc.
TSX : MBX

Microbix Biosystems Inc.

March 31, 2015 09:00 ET

Microbix Announces First Molecular Diagnostics Agreement

Company Pursuing Other Global MDx Agreements

TORONTO, ONTARIO--(Marketwired - March 31, 2015) - Microbix Biosystems Inc. (TSX:MBX) ("Microbix" or the "Company"), an innovator of biological products and technologies, announced today that it has entered into a long-term agreement with St. Cloud, Minnesota-based Microbiologics, Inc. ("Microbiologics"), a leading developer of biological controls and standards, pursuant to which Microbix will provide specialized viral material which will be incorporated into a line of full process controls, including instrument-specific sets, under Microbiologics' Helix Elite™ Molecular Standards brand.

Clinical labs use positive process controls to ensure patient test results are valid. Infectious disease positive controls are often difficult and expensive to find. As a result, clinical samples which may not be well characterized or consistent are often used. For the U.S. market, recent guidance in this area developed under CLIA (Clinical Laboratory Improvement Amendments) by CMS (Centers for Medicare and Medicaid Services) requires that clinical labs carefully consider the source, quality and format of their control materials.

Phil Casselli, Senior Vice President, Business Development at Microbix, commented, "We are pursuing a multipronged approach to exploit the high-growth molecular diagnostics marketplace. Microbiologics has well-established relationships with leading instrument manufacturers, in addition to large-scale distribution capabilities, making it an ideal partner to help expand the reach of our developing molecular program. Our unique isolates offering complements Microbiologics' strengths. We will both be focused on what we do best in this relationship."

Microbiologics Vice President, Molecular Products and Services, Brian Beck, Ph.D., said, "We are pleased to be using Microbix' materials in Microbiologics' products as they have a strong, global reputation for high quality viral preparations for the vaccine and immunodiagnostics markets." Dr. Beck added, "Incorporation of Microbix viral materials into our lyophilized, molecular-compatible formats complements our existing synthetic standards and extends our catalog to include extraction controls for gastrointestinal, respiratory, blood borne and sexually transmitted viral pathogens."

Vaughn Embro-Pantalony, CEO of Microbix, commented, "Expansion into molecular diagnostics is one of our strategic priorities and, by collaborating with Microbiologics, we are supporting the delivery of high quality, affordable control materials that are required for accurate and prompt diagnosis of disease. We continue to pursue global partnerships where we can leverage our advantage in infectious diseases to significantly grow our position in molecular diagnostics."

Microbix recently announced the launch of its first new products in the rapidly growing Molecular Diagnostics quality control market, selling to customers responsible for institutional accreditation testing. The Company is also preparing to sell its MDx products directly to clinical laboratories, with a roll-out planned for industry trade shows later this Spring.

About Molecular Diagnostics

Molecular diagnostics is a technique used to analyze biological markers in an individual's genetic code to diagnose disease on a more timely and accurate basis than is possible using conventional diagnostic testing techniques.

About Microbix Biosystems Inc.

Microbix Biosystems specializes in the research and development of biological solutions, including products for human health applications, namely in the vaccine, therapeutic and diagnostic markets, as well as animal reproductive markets worldwide. The Company manufactures and distributes a wide range of infectious disease antigens to a worldwide customer base. Microbix' pipeline of innovative technologies and products includes LumiSort, a semen sexing technology for the livestock industries; Kinlytic, a thrombolytic drug with several approved and potential applications including the treatment of life-threatening blood clots; and VIRUSMAX, a proprietary technology for increasing virus yields in the manufacture of influenza vaccine. Established in 1988, Microbix is Mississauga, Ontario-based company listed on the Toronto Stock Exchange under the trading symbol 'MBX'.

About Microbiologics Inc.

Microbiologics is the world's leading provider of ready-to-use QC microorganisms and innovative molecular controls for assay development, instrument validation and routine quality control testing of rapid diagnostic assays in clinical, pharmaceutical, food, water and educational industries. The company operates in accordance with an industry-leading quality system including certification to ISO 13485, ISO 17025 and ISO Guide 34 standards. Offering the largest and most diverse line of QC microorganisms, Microbiologics produces over 900 strains in a variety of user-friendly formats including qualitative, quantitative, Certified Reference Material, and Parasite Suspensions. Microbiologics has an expansive international distribution network and ships to over 130 countries around the world. The company is known for its exceptional Customer Service and knowledgeable Technical Support.

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, the risks associated with development projects, operations in foreign jurisdictions, risks associated with engineering and construction generally, risks associated with production including control over costs, quality, quantity and timeliness of delivery of products, foreign currency and exchange rate risk, and risks of raising 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.

For further information, please visit www.microbix.com.

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