TORONTO, August 24, 2011 /CNW/ - Microbix Biosystems Inc. (TSX:MBX), today announced receipt from the United States Patent and Trademark Office of U.S. patent number 8,004,661, for LumiSort™, Microbix’ sperm sexing technology for the livestock industries. Microbix’ LumiSort technology eliminates the speed and quality barriers that have limited the production and use of sex-sorted sperm, and promises to bring fundamental change to reproductive biology for the livestock industries, with large-market impact in the dairy and beef sectors worldwide.
William J. Gastle, Microbix’ Chief Executive Officer said, “With strong patent protection, LumiSort will fuel Microbix’ growth as we enter one of the fastest growing economic sectors in the world today: The animal health industry. When we explain LumiSort’s mode of action and benefits, livestock experts tell us that LumiSort may quickly become a market-shifting technology that creates a new model for artificial insemination and may change practices in the beef and dairy industries.”
Microbix has previously disclosed engineering studies that have supported Microbix’ prediction that LumiSort technology will enable the analysis and separation of sperm cells up to 10 times faster, and with higher yield and fertility, than current market technology. LumiSort will complement and accelerate genomics programs and embryo-based reproductive strategies by permitting the precise determination of sex in accordance with the requirements of an optimized breeding program. The technology is useful for all kinds of cells, including asymmetric, non-spherical cells like sperm that are difficult to analyze on conventional cytometers.
Microbix continues to execute its worldwide intellectual property strategy for LumiSort, including pursuing related patent applications that are pending in jurisdictions worldwide. Additionally, Microbix has announced recent patent application filings that build upon and extend Microbix’ intellectual property ambitions in this area, incorporating further developments from Microbix’ research and development efforts.
Microbix has established agreements for LumiSort with companies located in the United States, Canada, Australia, Europe, South America, and China representing more than 35% of the dairy semen collection centers and will enter a global animal reproduction market for artificial insemination valued at more than $3 billion. All agreements include the same royalty payment to Microbix of 15% of selling price. The company is accelerating its program to sign license agreements with additional distributors. In addition, Microbix is in advanced discussions with manufacturing companies to build the instrument that the company expects to be the future of livestock artificial insemination.
In 2010, Microbix announced a partnership with one of the largest suppliers of livestock reproduction products in the world, which has invested in the program through a milestone-based, $2 million investment, and will rapidly deploy LumiSort into their markets. This year, Microbix announced the engagement of Lathrop Engineering Inc., a leading Silicon Valley technology development company, toward the engineering and delivery of the LumiSort instrument.
At MEDICA 2011, Microbix will be exhibiting in Hall 3 as part of the Ontario, Canada pavilion and welcomes the media, visitors, and old friends.
About Microbix Biosystems Inc.
Microbix Biosystems Inc. 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.
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 commercializing technologies, including sales which may not reach sales targets or be made at all, there is no guarantee that the Company will complete development of any technology and if it does that it will perform to commercially exploitable levels, other technologies may emerge before any technology developed by the Company enters the market, royalty rates may not be achievable, markets may not sustain demand for any product should world economies shift significantly, market utilization rates may not be reached, market value of products may vary, product launch dates and market utilization timetables may not be met; risks associated with the ability to license LumiSort to industry; risks associated with failure to develop and commercialize LumiSort; non-adoption of LumiSort; competition in the animal reproduction and related markets; reliance by Microbix on third parties for the development and manufacture of LumiSort instrument; general economic conditions; intellectual property risks including challenges to protecting the Company's intellectual property rights, patents may not provide adequate protection of the Company's intellectual property, may not be successfully prosecuted and may be subject to challenge and risks of infringement of third party rights; risks of operating in foreign jurisdictions, including operating in countries with evolving legal and economic infrastructure; high rates of inflation; changes in taxation policies, and Microbix' ability to attract and retain qualified employees and management. 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.
For further information:
Visit www.microbix.com or contact: William J. Gastle, CEO, (416) 234-1624 x 230; or James Long, CFO, (416) 234-1624 x 265