TORONTO, ONTARIO--(Marketwired - Jan. 12, 2017) - Microbix Biosystems Inc. (TSX:MBX) ("Microbix"), an innovator of biological products and technologies, today announced it has signed a distribution agreement (the "Agreement") with Meridian Life Science, Inc. ("Meridian") a wholly owned company of Meridian Bioscience, Inc. (NASDAQ:VIVO) a fully integrated global diagnostic and life science company.
Under the terms of the Agreement, Meridian will receive exclusive distribution rights to Microbix' branded antigen products for China, Hong Kong, Taiwan and Macau. Additionally, Microbix will also provide bulk-finished product to Meridian to be sold under Meridian-label to customers in the Asia Pacific region (China, Macau, Hong Kong and Taiwan, India, Singapore, Malaysia, Australia, New Zealand, Thailand, Vietnam, the Philippines and Pakistan). Both companies will explore additional collaboration opportunities in the future.
The relationship will enable Microbix to leverage its expanding manufacturing capacity and Meridian's substantial commercial presence to better serve the region's diagnostic customers. Overall, the distribution collaboration is expected to significantly expand the business relationship between the two companies, and serve as a platform for the continued growth and expansion of their respective products and services.
"Meridian is a world-class life science company that shares our dedication to innovation, performance and quality, and is the ideal partner to help us extend our reach in diagnostics," commented Microbix' Chief Executive Officer, Vaughn C. Embro-Pantalony. "Microbix is well positioned to enter into this unique arrangement thanks to our new state-of-the-art bioreactor process, which provides the necessary production capacity and cost efficiencies for a collaboration of this scope. We look forward to working closely with Meridian to realize the full potential of this partnership."
Richard L. Eberly, President, Chief Commercial Officer of Meridian said, "Microbix and Meridian have complementary technologies which enable a complete offering of the widest and highest quality viral antigens for infectious diseases in the world. Meridian's reach in Asia Pacific will benefit both companies growth in the region."
About Meridian Bioscience, Inc.
Meridian is a fully integrated life science company that develops, manufactures, markets and distributes a broad range of innovative diagnostic test kits, rare reagents, specialty biologicals and components. Utilizing a variety of methods, our diagnostic tests provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as infections and lead poisoning. Meridian's diagnostic products are used outside of the human body and require little or no special equipment. The Company's diagnostic products are designed to enhance patient well-being while reducing the total outcome costs of health care. Meridian has strong market positions in the areas of gastrointestinal and upper respiratory infections and blood lead level testing. In addition, Meridian is a supplier of rare reagents, specialty biologicals and components used by organizations in the life science and agribio industries engaged in research and by companies as components in the manufacture of diagnostics. The Company markets its products and technologies to hospitals, reference laboratories, research centers, diagnostics manufacturers and agribio companies in more than 70 countries around the world. The Company's shares are traded on the NASDAQ Global Select Market, symbol VIVO. Meridian's website address is www.meridianbioscience.com.
About Microbix Biosystems, Inc.
Microbix 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. The Company's pipeline of innovative technologies and products includes Kinlytic, a thrombolytic drug with several approved and potential applications including the treatment of life-threatening blood clots and LumiSort semen sexing technology for the livestock industries. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange, and headquartered in Mississauga, Ontario.
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 its revenue business, development projects, operations in foreign jurisdictions, engineering and construction generally, production (including control over costs, quality, quantity and timeliness of delivery of products), 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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