After his recent visit to the Hunan Province, Gastle said: "As Microbix and its partner's senior management begin implementing the startup of the Hunan Microbix Joint Venture, I've seen first-hand that the vaccine project has a high priority in government circles. The enthusiasm is keen in China to move forward at all government levels and we are receiving offers of assistance to advance the ball quickly."
SST, Microbix' semen sexing technology, will enter an animal health market for artificial insemination valued at more than $2.5 billion. SST will enable commercial breeders to pre-determine the sex of livestock allowing producers to maximize productivity and profitability. Even before launch, expected in 2012, Microbix technology has drawn interest from livestock producers and other key stakeholders in the animal health and related markets. In fact, Microbix already has agreements in place with 25% of dairy semen collection centers to adopt its SST technology.
Within three years of launch, Microbix expects its SST technology to generate $140 million annually in revenues for the company and its partners, and as much as $500 million annually once fully deployed into the global market.
Microbix is in discussion with several global partners to license the final phase of SST development. Microbix CEO recently said: "We are very pleased with the response and interest received for participation in sponsoring the final phase of development of the SST technology. The opportunity offers a sponsoring partner high-margin revenues and a new platform to augment its own herd management products."
Protected by recently garnered intellectual property rights and having low development risk with no regulatory barriers to markets globally, Microbix' expects it novel semen sexing technology will become the industry standard for livestock producers in the near future.
|SOURCE Microbix Biosystems Inc.|
Copyright©2009 PR Newswire.
All rights reserved