Subsequent work led to the recognition that the family of proteins required additional investigation. In a release in February 2008 the Company announced expansion of the SST development program to fully evaluate proteins to respectively characterize X and Y chromosome-bearing sperm. New state-of-the-art technologies were brought to bear on the analysis and the commercial potential of these discoveries. We have now completed this work and our evaluation of the proteins has not pointed to a commercial utility thus far.
However, this work has led to the discovery of a lower risk and commercially attractive next generation technology to achieve the same objective. Accordingly, broad patent claims protecting this technology are being filed. Field trials demonstrating the commercial application of this next-generation technology are expected to occur pending financing. The Company will provide an updated guidance on the timeline.
"The Scientific Advisory Committee has conducted a thorough review of all the results and methodologies associated with this program," said Dr. Mark A. Cochran, Chair of the committee. "We are very confident that the data generated strengthen the technological position of Microbix for the next phase of the work."
"The extensive scientific review we have undertaken has clearly concluded that we have met the research objectives of the SST program," said Mr. Gastle. "Product development now moves in a new direction to complete the commercial delivery platform for the AI industry."
Microbix specializes in the development of biological technologies and commercializing them through global partners. The Company has intellectual property in large market biotherapeutic drugs, vaccine technologies and animal reproduction technologies. Est
|SOURCE Microbix Biosystems Inc.|
Copyright©2009 PR Newswire.
All rights reserved