- Influenza: 50/50 joint venture agreement signed with Hunan Biopharmaceutical to build Asia's largest seasonal and pandemic flu manufacturing facility - Biologics: 23% growth in sales and to soon become cash-flow positive - Thrombolytic: Nears licensing and sales of KINLYTIC(TM) thrombolytic agent for pulmonary embolism - Semen sexing: 25% of the dairy semen collection centres now under agreement - Dr. Mark Cochran added to management team
TORONTO, Oct. 29 /PRNewswire-FirstCall/ - Microbix Biosystems Inc. (MBX:TSX) a virology and biological technology company with a near-term pipeline of proprietary products, today provided an update on its corporate activities.
For the fiscal year ended September 30, 2009, Microbix reported revenues of $6 million, a 23 percent increase over the previous year (unaudited), in its core business of providing biological products to the diagnostic and research industries. Continued growth in the core business will result in the Company becoming cash-flow positive in the very near future, reducing the need for other financings that dilute shareholder value.
William J Gastle, Microbix chairman and CEO, said, "In 2010, Microbix will be poised to take the largest step forward in its 20-year history. This growth will be fuelled by our announcement this week that the company has completed the initial financing for our joint venture with Hunan to build the world's third largest influenza vaccine facility; the approval of KINLYTIC in Canada and other markets, and partnership agreements for our semen sexing technology (SST) for livestock management. We have strong opportunities for growth in new areas with a growing and profitable base business serving the medical diagnostic industry."
Microbix continues to invest wisely in its core business such as its new Watline production facility which has improved efficiency, capacity, and capability a
|SOURCE Microbix Biosystems Inc.|
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