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

uarter was due to ongoing investment in SST development and commercializing the new Urokinase product, Kinlytic. Microbix continues its corporate restructuring to conserve cash and lower its burn rate in order to ensure its pipeline products reach their full potential.

"Given the unusually difficult market conditions, Microbix is controlling its cash flow prudently", said Mr. James A. Long, CFO. "We remain confident in our ability to operate the business using existing cash flow from our core business." The planned launch of Urokinase in 2009 would be accretive to the Company's projected positive cash flows.

                                                       Quarter Ended Dec 31
                                                      2008              2007
                                              -------------------------------
    Revenue                                   $  1,606,523         1,036,851
    Net Income (Loss)                         $   (583,668)         (944,987)
    Net Income (Loss) per share               $      (0.01)            (0.02)
    Cash Flow                                 $ (2,362,069)        5,603,173

Cash flow was negative at $2,362,069, due mostly to expenditures related to the expansion of the core business manufacturing facilities and continued effort on the Kinlytic commercial development. The Company was cash flow positive $5,603,173, in the same period in 2008 due to an equity financing.

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. Established in 1988, Microbix is headquartered in Toronto.

This press release contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ
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SOURCE Microbix Biosystems Inc.
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