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Microbix Sales Grow 22% For Nine Months
Date:8/6/2009

s attractive to many commercial players. The Microbix technology has the potential to provide a new entry company with full IP exclusivity. As previously reported term sheet agreements have already been signed with artificial insemination companies worldwide."

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 manufacturing, and the corresponding sales and marketing infrastructure.

"The results of our Urokinase investment have been disappointing," Mr. Gastle said. "The US FDA has not yet released the inventory of Kinlytic we acquired in September 2008. We purchased the Urokinase inventory on the premise that it was stable and releasable under an FDA approvable letter. While the FDA has conceded the data we presented has merit, at a recent meeting of appeal the FDA requested yet more stability data before they will reconsider our request. No clinical trials have been requested in order to obtain inventory release for labeled indications. The Company is currently evaluating all options for the inventory."

Microbix is one of many drug companies that are experiencing delays at the FDA today and continues to press matters with the agency," Mr. Gastle said. "We remain optimistic that we will reach the market."

Other Highlights

The Company has reduced its overhead as we transitioned virology manufacturing into the new facility. A major corporate objective is to be profitable and cash flow positive in 2010. With the additional capacity we expect to expand sales in 2010 and to see continued financial improvement for
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SOURCE Microbix Biosystems Inc.
Copyright©2009 PR Newswire.
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