Commenting on this company milestone, William J. Gastle, Microbix Chairman and CEO, said, "We're pleased that our innovative VIRUSMAX influenza vaccine technology will contribute significantly to seasonal and pandemic influenza preparedness in the future."
Gastle added, "The Microbix-Hunan initiative will make China an important source of influenza vaccine in the Asia region as well as offering significant capacity for the Chinese market which is growing significantly. In five years, the China market is expected to demand up to 500 million influenza vaccine doses annually."
A substantial investment is being made by Hunan in transferring the land to the joint venture and building the facility through the first phase of financing. As the project progresses, Hunan has agreed to provide additional funding through debt and has guaranteed the purchase of 100 million influenza vaccine doses. On all vaccine produced at the facility, Microbix will receive royalty payments. Microbix also holds exclusive marketing rights outside China.
Microbix expects other opportunities for VIRUSMAX licensing, partnerships and joint ventures will be forthcoming.
Thrombolytic Agent for Pulmonary Embolism: KINLYTIC
Microbix is actively pursuing Canadian regulatory approval of Kinlytic for pulmonary embolism. Discussions are also underway with other companies to license the new indications in ophthalmology, urology, and oncology. Microbix is also in discussions with potential regional partners to manufacture and market Kinlytic for markets beyond North America. The company's Skyway production facility when fully operational would have the capacity to manufacture
|SOURCE Microbix Biosystems Inc.|
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