Microbix Biosystems Inc.

Microbix Biosystems Inc.

October 11, 2016 13:42 ET

Zeptometrix Files Infringement Action Against Microbix

Company Confident Allegations are Without Merit

TORONTO, ONTARIO--(Marketwired - Oct. 11, 2016) - Microbix Biosystems Inc. (TSX:MBX), an innovator of biological products and technologies, today announced that Zeptometrix Corporation has filed a statement of claim against Microbix in Canadian Federal Court alleging infringement of its Canadian patent.

"We are very confident that our products and processes do not infringe our competitor's Canadian patent and we intend to vigorously defend our competitive position against these claims," commented Vaughn Embro-Pantalony, President and CEO of Microbix Biosystems Inc.

According to the Company, the molecular diagnostics market is the fastest growing segment within the global diagnostics industry expanding at a rate of more than 10% annually. North America and Europe are the primary markets for molecular diagnostics products representing over $5 billion in 2015, and molecular controls is one of the fastest growing segments in this space.

About Microbix Biosystems

Microbix Biosystems Inc. specializes in the research and development of biological solutions. This includes products for human health applications in the vaccine, therapeutic and diagnostic markets and a product for the worldwide animal reproduction market. In its revenue generating business, 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 LumiSort 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 a publicly traded company, listed on the Toronto Stock Exchange, and headquartered in Mississauga, Ontario.

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 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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