TORONTO, July 26, 2018 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX:MBX) (Microbix^®), an innovator of biological products and technologies, announces that it will be exhibiting its Quality Assessment Products (QAPs™) at the 70th annual clinical laboratory exposition of the American Association of Clinical Chemistry (AACC).

The 2018 AACC exposition is being held at the McCormick Place convention center in Chicago, Illinois from July 31 to August 2, 2018. Microbix will be showcasing a series of its new PROCEEDx™ brand QAP products at the AACC exposition. PROCEEDx products are used for research, assay development, validation/verification of instruments, troubleshooting, and operator training. Currently, this product line supports quality assessment objectives of tests and related devices for a wide range of respiratory and sexually transmitted infections (STIs). The highlight of the STIs offering is the Human Papilloma Virus (HPV) panel containing positive samples of viral types 16, 18, 45, 31, 33 and 39. These products are designed to closely resemble patient samples, with integrated and episomal presence of HPV, and to support quality assessment of the DNA/RNA extraction, detection and amplification steps of tests. PROCEEDx products support both immunological and molecular assays (as necessary) and are stable up to 72 months in liquid form when stored at 2-8^o Celsius.

Mr. Phil Casselli, SVP Sales and Business Development of Microbix, is spearheading its team at the AACC exposition and commented, “As diagnostic tests for infectious diseases become more complex, there is a growing need for quality assessment products – to support researchers, test developers, laboratories and others. Our QAPs product line is highly complementary to our established line of infectious disease antigens and our new HPV QAPs are unparalleled in the industry. We’re pleased to use our expertise to provide validated third-party products that address our customers’ needs and to be presenting our latest innovations at the AACC Expo.”

Microbix PROCEEDx products are available for purchase on its website at www.microbix.com. They are the second product line within the QAPs family, which also includes its well established laboratory proficiency testing and certification products (its PTDx^TM product line) which are only available to qualified proficiency program providers. Microbix can be visited at booth #658 at the AACC exposition.

About Microbix Biosystems

Microbix Biosystems Inc. specializes in the development of proprietary biological and technology solutions for human health and well-being. The Company manufactures a wide range of critical biological materials for the global diagnostics industry, notably antigens used in immunoassays or quality assessment and proficiency testing products. The Company also applies its biological expertise and technology platforms to create other innovative products and technologies. Currently it is commercializing two such proprietary products, (1) Kinlytic^® urokinase, a biologic thrombolytic drug used to treat blood clots and (2) LumiSort™ cell-sorting, a technology platform for ultra-rapid and efficient sorting of somatic cells that can be used to enrich cell populations of interest, such as in sexing semen. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, management’s discussion of new products being introduced or exhibited, industry needs or trends, financial results or the outlook for the business, the risks associated with its financial results and stability, its biologicals business, development projects such as those referenced herein, operations in foreign jurisdictions, engineering and construction generally, production (including control over costs, quality, quantity and timeliness of delivery of products), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company’s judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.

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For further information, please contact:

Company Contacts:

Cameron L. Groome, CEO
(905) 361-8910

Jim Currie, CFO
(905) 361-8910

Deborah Honig, Investor Relations – Adelaide Capital Markets
(647) 203-8793 [email protected]