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Microbix Presenting COVID-19 Product Results to Industry

Abstract Reports Multi-Platform Utility of IVD SARS CoV-2 Lab Workflow Control

MISSISSAUGA, Ontario, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), an award-winning life sciences innovator and exporter, announces it is has been invited to present about the performance of its COVID-19 in-vitro diagnostics (IVD) quality assessment products at “ECCVID,” a virtual conference on Coronavirus disease organized by the European Society for Clinical Microbiology and Infectious Diseases (ESCMID), taking place September 23-25, 2020.

The abstract presentation is titled “Novel SARS-CoV-2 Full-Genome Material For Use In A Swab-based Formulation As A Multi-Platform NAAT Quality Control.” It reviews the performance of Microbix’s novel, innovative, and proprietary REDx™FLOQ® SARS-CoV-2 product – A tool for helping to ensure the accuracy of clinical laboratory “RT-PCR” testing for active infection with the virus causing COVID-19 disease. The results demonstrate that Microbix’s COVID-19 quality assessment products (QAPs™) contain all required nucleic acid targets and are formulated for compatibility across many widely-used RT-PCR tests.

Microbix believes these results show it is addressing the need for workflow controls to effectively support the quality objectives of clinical labs testing for SARS-CoV-2 infections across many diagnostic instrument platforms. It also believes that this QAPs product will assist with the provision of optimal healthcare globally and that it represents a meaningful new revenue opportunity for Microbix.

The abstract presentation was authored by six members of Microbix’s product development (R&D), operating, and customer support teams and details the REDxFLOQ SARS-CoV-2 performance results in a complete and succinct fashion. It is being presented by Microbix’s Director of Quality Assessment Products (QAPs™), Pavel Zhelev. The full slides will be made available on the company website, www.microbix.com, after their presentation at ECCVID and includes Microbix’s thankful acknowledgement of ten collaborator organizations across Europe, North America, and Scandinavia.

Purchase enquiries for REDxFLOQ SARS-CoV-2 (IVD) and PROCEEDx™FLOQ® SARS-CoV-2 (RUO) should be directed to Microbix or its distributors, those being Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. Further information about Microbix’s COVID-19 products and its other IVD and RUO (Research Use Only) QAPs is available on the company website at www.microbix.com and on the websites of its distributors.

About Microbix Biosystems
Microbix develops proprietary biological and technology solutions for human health and well-being, with approximately 80 skilled employees and current sales of approximately $1 million per month. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs are now available in over 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides CE marked products.

Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is publicly-traded on the TSX and OTCQB, 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, reference to the conference or the materials presented there, discussion of financial results or the outlook for the business, risks associated with its financial results and stability, its current or future products, development projects such as those that may be referenced herein, sales to foreign jurisdictions or their regulations, engineering and construction, production (including control over costs, quality, quantity and timeliness of delivery), 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.

Please visit www.microbix.com or www.sedar.com for recent Microbix filings.

For further information, please contact:

Cameron Groome, CEO
(905) 361-8910
Jim Currie, CFO
(905) 361-8910
Deborah Honig, Investor Relations
Adelaide Capital Markets
(647) 203-8793 [email protected]

Copyright © 2020 Microbix Biosystems Inc.
Microbix®, Kinlytic®, and QAPs™ are trademarks of the Company
PROCEEDx™FLOQ® and REDx™FLOQ® are trademarks of Microbix in collaboration with COPAN Italia SpA

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