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Microbix First Quarter Sales Grow Over 50% With Continued Progress On The Pipeline
Date:2/13/2009

e been set for financing of the Hunan project to occur. The Company is working with the Hunan Provincial Government and now also Chinese Central Government organizations to complete the financing.

Semen Sexing Technology (SST)

The SST program has focused on executing the program's strategy to hold a comprehensive intellectual property position for sex-specific proteins on sperm cells. "We are approaching an important juncture in the completion of this phase of the work", said Mr. Gastle. "Once reached, we will be able to provide specific guidance on the timelines through field trials and to market".

Urokinase

The Company acquired all Urokinase assets from ImaRx Therapeutics, Inc. of Tucson, Arizona, (Nasdaq: IMRX) in September 2008. These assets included ImaRx' remaining Urokinase inventory as well as the regulatory file for the product (formerly known as Abbokinase(R), now rebranded as Kinlytic(R)), key raw materials for Urokinase manufacture, and the corresponding sales and marketing infrastructure.

The acquired inventory is awaiting US FDA release in the coming weeks, allowing Microbix to begin sales and marketing activities in the second quarter fiscal 2009.

Other Highlights

"We are in the final steps towards completing expansion of our new manufacturing facility to accommodate increased demand for virology products," said Mr. Gastle. "The additional capacity will begin to further expand sales in 2010."

Financial Results

For the quarter ended December 31, 2008, the Company recorded a net loss of $583,668 or 1 cent a share compared to a loss of $944,987 or 2 cents a share in the same period in fiscal 2008. Cash flow was negative for the first quarter 2009 compared to cash flow positive in fiscal 2008.

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SOURCE Microbix Biosystems Inc.
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