Microbix Biosystems Inc. (
TSX: MBX, OTCQX: MBXBF,
Microbix®), a life sciences innovator, manufacturer, and
exporter, announces it has sold and shipped over one million
Canadian Dollars (“
C$ 1 Million”) of its quality
assessment products (“
QAPs™”) to a leading agency
that provides clinical laboratory accreditation services. This is
Microbix’s largest-ever individual shipment to a lab
proficiency-testing (“
PT”) and external quality
assessment (“
EQA”) services provider.
The orders were for Microbix QAPs, in both the
traditional liquid-vials and formatted onto Copan® FLOQSwabs®, to
support proficiency programs covering numerous infectious diseases
across multiple disease categories. The QAPs provided included
those to support antigen and molecular (i.e., PCR) tests. They will
be used to help validate accuracy of testing on a wide range of
test systems – ranging from high-throughput automated instruments
to lower volume point-of-care and lab-developed tests.
These sales were realized in the fourth quarter
of calendar 2023 (i.e., Q1 of Microbix’s fiscal 2024). As with the
over C$ 1 Million set of QAPs purchase orders
(“P.Os.”) from a multinational test-maker
announced in late September, this PT/EQA-oriented set of P.Os. was
nearly equivalent to a full year’s worth of QAPs sales from 2020
and is indicative of Microbix beginning to realize its targeted
sales growth for this segment of its business. The unit number of
QAPs shipped under this set of P.Os. is in the tens of thousands
and Microbix expects ongoing sales to this longtime PT/EQA
customer.
Microbix believes this record set of orders
substantiates its technical leadership in creating and producing
test controls (i.e., QAPs). Specifically, that the accuracy and
reliability of sophisticated clinical laboratory testing must be
validated by PT/EQA programs and that such programs must be
supported by cross-platform compatible QAPs in formats that
represent actual patient samples (i.e., both liquids &
swabs).
Cameron Groome, CEO & President of Microbix,
stated, “We’re delighted to advance our relationship with this
international leader in the PT/EQA sector of the clinical
laboratory industry. We understand that we earned this increased
level of business due to the technical superiority of Microbix QAPs
– namely their providing clinically-relevant pathogen-signals and
whole-process validation while being entirely compatible with each
of the instrument and assay systems now in use within
laboratories.”
Phil Casselli, SVP of Sales and Business
Development of Microbix, also commented, “The range of diagnostic
assays keeps growing so we grow our PT sample range accordingly and
thank our customer for their confidence in us as their supplier.
Two orders of this magnitude a few months apart also validates our
decision to increase our production capacity to support these
growing markets – whether that be for PT/EQA samples, QC for
core-lab based assays, in-kit controls for point-of-care tests, or
our ONBOARDx training kits. We look forward to building more such
relationships and setting further sales records.”
About Microbix Biosystems
Inc.Microbix Biosystems Inc. creates proprietary
biological products for human health, with over 100 skilled
employees and annualized sales now targeting C$ 2.0 million per
month. It makes a wide range of critical ingredients and devices
for the global diagnostics industry, notably antigens for
immunoassays and its laboratory quality assessment products (QAPs™)
that support clinical lab proficiency testing, enable assay
development and validation, or help ensure the quality of clinical
diagnostic workflows. Its antigens drive the antibody tests of
approximately 100 diagnostics makers, while QAPs are sold to
clinical lab accreditation organizations, diagnostics companies,
and clinical labs. Microbix QAPs are now available in over 30
countries, supported by a network of 10 international distributors.
Microbix is ISO 9001 & 13485 accredited, U.S. FDA registered,
Australian TGA registered, Health Canada establishment licensed,
and provides CE marked products.
Microbix also applies its biological expertise
and infrastructure to develop other proprietary products and
technologies, most notably viral transport medium (DxTM™) to
stabilize patient samples for lab-based molecular diagnostic
testing and Kinlytic® urokinase, a biologic thrombolytic drug used
to treat blood clots. Microbix is traded on the TSX and OTCQX, and
headquartered in Mississauga, Ontario, Canada.
Forward-Looking InformationThis
news release includes “forward-looking information,” as such term
is defined in applicable securities laws. Forward-looking
information includes, without limitation, discussion of the PT/EQA
customer purchases of QAPs and their relevance, Microbix’s business
and business results, goals or outlook, risks associated with
financial results and 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 over costs, quality,
quantity and timeliness of delivery), 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 many material factors, some
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.
Please visit www.microbix.com or www.sedarplus.ca
for recent Microbix news and filings.
For further information, please contact Microbix
at:
Cameron Groome, CEO(905) 361-8910 |
Jim Currie, CFO(905) 361-8910 |
Deborah Honig, Investor RelationsAdelaide Capital Markets(647)
203-8793 ir@microbix.com |
Copyright © 2024 Microbix Biosystems Inc.
Microbix®, DxTM™, Kinlytic®, ONBOARDx™, and QAPs™ are trademarks of
Microbix Biosystems Inc.Copan®, FLOQ®, and FLOQSwab® are trademarks
of Copan Italia S.p.A.
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