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 s
|SOURCE Microbix Biosystems Inc.|
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