Microbix Biosystems Inc.
TSX : MBX

Microbix Biosystems Inc.

May 15, 2015 08:26 ET

Microbix Provides Update on U.S. VIRUSMAX Litigation

TORONTO, ONTARIO--(Marketwired - May 15, 2015) - Microbix Biosystems Inc. (TSX:MBX) ("Microbix" or the "Company"), an innovator of biological products and technologies, announced today that the U.S. District Court in the Eastern District of Texas has provided its decisions on a litigation between Microbix and Novartis. In the matter of whether Novartis has infringed the 18 patent claims asserted by Microbix on its patent 7,270,990 in the United States, the court ruled in favour of Novartis, the defendant. Concerning the defendant's counterclaim seeking a declaratory judgment of patent invalidity, the court dismissed it without prejudice. All other claims and counterclaims asserted between the parties were likewise dismissed without prejudice. Court administration costs, which are not expected to be material, are the responsibility of Microbix. Both parties have the right to appeal the court's decisions.

Microbix is reviewing the ruling of the Court and assessing its approaches to enforcing the patent claims relating to its VIRUSMAX® technology. Microbix will provide further comment about these legal matters once its assessments are completed and as it deems to be prudent or required.

About VIRUSMAX®

In 2003 Microbix discovered that up to 50% of influenza virus produced in an egg is attached to debris in the allantoic fluid. Prior to this discovery, the fluid debris was discarded from the process along with the virus by the vaccine industry. Microbix developed a method to capture the virus attached to the debris and thereby increase influenza vaccine manufacturing capacity, which became VIRUSMAX. The US patent was granted in 2007 and the European patent was granted in 2011. The Company owns VIRUSMAX patents in 21 countries as part of its worldwide intellectual property portfolio.

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'.

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.

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