In the agreement between the two Toronto-area companies, Microbix will maintain sales and marketing functions while Therapure will manage manufacturing, distribution and product development
TORONTO, Jan. 12 /PRNewswire-FirstCall/ - Microbix Biosystems Inc. (MBX:TSX), a biotechnology company focused on virology and biological technologies, and Therapure Biopharma Inc., an integrated biopharmaceutical company that develops, manufactures, purifies and packages therapeutic proteins, announced today the signing of a partnership agreement to manufacture and market water-based products to the pharmaceutical, biotechnology and other industries.
The partnership will significantly expand the portfolio of products Microbix will offer its customers and increase capacity by leveraging Therapure's state-of-the-art, commercial scale manufacturing facility. Under terms of the agreement, Microbix will maintain the sales and marketing functions for the water-based program, while Therapure will manage manufacturing and product development operations. The products will remain under the Microbix brand. Further financial details of the transaction were not made public.
Microbix, whose water-based product sales have nearly doubled each year since 2006, will benefit from the agreement due to Therapure's large manufacturing capacity, its R&D expertise as well as its testing, filling, packaging and shipping services. Therapure will gain by tapping into Microbix' established market position as a leading water-based products supplier to the North American pharmaceutical industry.
Microbix CEO William J. Gastle said "Therapure's capabilities will enable Microbix to expand our product line and market share of the growing water-based business in North America. Our
|SOURCE Microbix Biosystems Inc.|
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