Navigation Links
Microbix Signs Marketing Agreement For Kinlytic(R)(Urokinase) In Growing Middle East Region

Riso Pharma guarantees to purchase 50,000 KINLYTIC vials over next three years

TORONTO, Nov. 17 /PRNewswire-FirstCall/ - Microbix Biosystems Inc. (MBX:TSX), a biotech company focused on virology and biological technologies, today announced a marketing and supply agreement with Riso Pharma that guarantees purchases of not less than 50,000 KINLYTIC vials over the next three years. KINLYTIC (Urokinase) is Microbix' thrombolytic agent for treating pulmonary embolism.

Under the terms of the agreement, Microbix will grant Riso exclusive rights to market KINLYTIC throughout the Middle East. Microbix will share in the revenues from KINLYTIC sales in all countries covered by the agreement and Riso will be responsible for all commercialization activities. Microbix expects KINLYTIC sales to commence around mid-year 2010.

Mark A. Cochran, Microbix' Chief Business Officer, said, "Microbix is off to a great start as we bring KINLYTIC back to the world's medical community. We expect to provide our clot-busting therapy to other parts of the world by signing additional agreements, such as this one, throughout 2010. And, while final pricing for our therapy has not been yet established, even at a discounted pricing offered to these emerging markets, Microbix will profit substantially from this agreement covering the Middle East."

The market for pharmaceutical sales in the Middle East is valued today at $12 billion and is expected to grow 10 to 15 percent annually, according to published pharmaceutical market reports. Growth in this region is being forecast for the pharmaceutical and biotechnology industries due to moves by Middle Eastern nations to liberalize national economies and introduce universal health care coverage.

P. Daniel Bagi, M.D., Managing Director of Riso Pharma, said, "We are very pleased to add KINLYTIC to our diverse product offerings throughout the Middle East. As with all of our product sales, we expect KINLYTIC to achieve annual sales of several million dollars in the region."

Urokinase, which Microbix has re-branded as KINLYTIC, has been administered to over four million patients and generated peak annual worldwide sales of more than $300 million, prior to Abbott Laboratories discontinuing sales several years ago due to manufacturing issues. With all outstanding manufacturing issues resolved, Microbix is now the only worldwide source of low-molecular-weight urokinase.

In 2008, Microbix completed a $2.5 million acquisition of all Urokinase assets from ImaRx Therapeutics. Microbix holds more than 100,000 doses of urokinase inventory which it expects will supply market needs for nearly three years. With revenues from product sales, Microbix expects to scale up KINLYTIC manufacturing at its Skyway production facility in Toronto in time to re-supply its inventory with capacity to produce $70 million worth of product annually.

    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.

    About Riso Pharma Tech

Riso Pharma Tech is a Canadian-based affiliate of a large Holding Company, Riso Holding. As a group, Riso has sole agency agreements with some of the largest pharmaceutical companies in the world for Middle Eastern market. Riso is also a provider of medicinal products and health care supplements serving dedicated markets world-wide, but focusing on the Middle East, North Africa and Latin America.

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 complete agreements to license, finance, develop and commercialize KINLYTIC on a timely basis, non-adoption of KINLYTIC, resistance to business model for commercialization and implementation; and risks associated with the efficacy of the drug. Risks related to timeliness, delay or failure to obtain local market regulatory approvals or to enter into marketing and supply agreements on acceptable terms or at all; risk of under-performance or non-performance by counter parties; accuracy of estimates of market and supply adequacy; ability to achieve market acceptance, sales and revenue generation on a timely basis or at all; product pricing risks; ability to fund from revenue or otherwise timely manufacturing scale up and to achieve manufacturing capacity, successful expansion of the drug into new indications and new markets. These forward-looking statements represent the Company's judgment as of the date of this press release. The Company disclaims any intent or obligation to update these forward-looking statements.

SOURCE Microbix Biosystems Inc.

SOURCE Microbix Biosystems Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Microbix Biosystems Re-files Annual Results With OSC
2. Microbix Biosystems Provides a Corporate Update
3. Microbix And Hunan Biopharmaceutical To Build Asias Largest Influenza Vaccine Facility
4. Microbix Sales Grow 22% For Nine Months
5. Microbix Files First Patent Applications On Novel Technology Platform For Large Semen Sexing Market
6. Microbix Sales Grow Over 30% In The Second Quarter; Up 43% In The First Half 09
7. Microbix Announces A New Technology Platform For The SST Project
8. Microbix First Quarter Sales Grow Over 50% With Continued Progress On The Pipeline
9. Microbix Uses Core Business Cashflow To Fund Late-Stage Pipeline To Build Shareholder Value In 2009
10. ImaRx Therapeutics Signs Letter of Intent With Microbix Biosystems for the Sale of Urokinase
11. DATATRAK Signs New Client for Rescue Study
Post Your Comments:
(Date:11/24/2015)... ... 24, 2015 , ... Copper is an essential micronutrient that ... proteins, copper is also toxic to cells. With a $1.3 million award from ... conduct a systematic study of copper in the bacteria Pseudomonas aeruginosa (P. aeruginosa), ...
(Date:11/24/2015)... -- Clintrax Global, Inc., a worldwide provider of clinical research services headquartered ... the company has set a new quarterly earnings record in Q3 ... posted for Q3 of 2014 to Q3 of 2015.   ... , with the establishment of an Asia-Pacific ... United Kingdom and Mexico , with ...
(Date:11/24/2015)... Muncie, IN (PRWEB) , ... November 24, 2015 , ... ... its newest Special Interest Group (SIG), MultiGP, also known as Multirotor Grand Prix, to ... in the last few years. Many AMA members have embraced this type of racing ...
(Date:11/24/2015)... TEL AVIV, Israel , Nov. 24, 2015  Tikcro Technologies Ltd. ... be held on December 29, 2015 at 11:00 a.m. Israel ... & Co., Electra Tower, 98 Yigal Allon Street, 36 th Floor, ... , election of Eric Paneth and Izhak Tamir ... and Rami Skaliter as external directors; , approval of an ...
Breaking Biology Technology:
(Date:10/26/2015)... , October 26, 2015 ... --> adds Biometrics Market ... 2021 as well as Emerging Biometrics ... reports to its collection of IT ... . --> ...
(Date:10/26/2015)... , Oct. 26, 2015  Delta ID Inc., ... authentication to mobile and PC devices, announced its ActiveIRIS® ... the arrows NX F-02H launched by NTT DOCOMO, INC ... F-02H is the second smartphone to include iris recognition ... in ARROWS NX F-04G in May 2015, world,s first ...
(Date:10/23/2015)... GOLETA, California , October 23, 2015 ... and SensoMotoric Instruments (SMI) announce a mobile plug and ... captured during interactive real-world tasks SensoMotoric Instruments ... of their established wearable solutions for eye tracking and ... behavior captured with SMI Eye Tracking Glasses 2w ...
Breaking Biology News(10 mins):