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Microbix' Pipeline Set To Reach Milestones In 2010
Date:12/16/2009

e compared with a loss of $440,113 or 1 cent a share in 2008. Cash flow was negative for both the quarter and full year compared to slightly positive in 2008.

In September, Microbix raised $750,000 in equity through a brokered private placement financing with significant high net-worth investor participation. The funds are being used for working capital.

The development of the Hunan Joint Venture and extensive business development activities associated with concluding agreements for the Urokinase acquisition increased the loss this year. Microbix has undergone a corporate restructuring to conserve resources and lower its cash burn rate in order to ensure its pipeline products reach their full potential. Microbix is expected to turn cash flow positive in 2010.

                            Quarter Ended Sept 30      Year Ended Sept 30
                              2009         2008         2009         2008
                          ---------------------------------------------------

    Revenue               $ 1,514,306    1,259,749    6,082,469    4,993,521

    Net Income (Loss)     $  (715,667)    (440,113)  (2,484,535)  (3,667,909)

    Net Income (Loss)
     per share            $     (0.01)       (0.01)       (0.05)       (0.08)

    Cash Flow             $  (185,750)      17,914   (2,819,490)   2,769,660


    About Microbix
    --------------

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 materially from those set forth in the forward-looking statements including the risks associated with failure to ge
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SOURCE Microbix Biosystems Inc.
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