In the agreement between the two Toronto-area companies, Microbix will maintain sales and marketing functions while Therapure will manage manufacturing, distribution and product development
TORONTO, Jan. 12 /PRNewswire-FirstCall/ - Microbix Biosystems Inc. (MBX:TSX), a biotechnology company focused on virology and biological technologies, and Therapure Biopharma Inc., an integrated biopharmaceutical company that develops, manufactures, purifies and packages therapeutic proteins, announced today the signing of a partnership agreement to manufacture and market water-based products to the pharmaceutical, biotechnology and other industries.
The partnership will significantly expand the portfolio of products Microbix will offer its customers and increase capacity by leveraging Therapure's state-of-the-art, commercial scale manufacturing facility. Under terms of the agreement, Microbix will maintain the sales and marketing functions for the water-based program, while Therapure will manage manufacturing and product development operations. The products will remain under the Microbix brand. Further financial details of the transaction were not made public.
Microbix, whose water-based product sales have nearly doubled each year since 2006, will benefit from the agreement due to Therapure's large manufacturing capacity, its R&D expertise as well as its testing, filling, packaging and shipping services. Therapure will gain by tapping into Microbix' established market position as a leading water-based products supplier to the North American pharmaceutical industry.
Microbix CEO William J. Gastle said "Therapure's capabilities will enable Microbix to expand our product line and market share of the growing water-based business in North America. Our partnership will enable us to provide a complete portfolio of water-based products which will drive sales higher while increasing customer satisfaction."
"Water-based products are an important part of Microbix' core business, which has been growing by more than 20% annually for the past six years," Mr. Gastle added.
Thomas Wellner, President and CEO of Therapure said "Therapure Biopharma is excited to partner with another Canadian-based biotechnology company. This opportunity enables Therapure to leverage our large water and buffer manufacturing capacity and our Health Canada licensed aseptic filling capabilities."
The immediate result of the Microbix-Therapure agreement will be the launch of Microbix 22(TM), a new 22% alcohol and water-for-injection (WFI) pre-mixed used for chromatography column storage. Mixing concentrated alcohol with water can be dangerous and many customers would rather purchase the product premixed and avoid the risks. Additionally, the partnership will be able to manufacture custom buffers and media to recipes provided by customers.
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 Therapure Biopharma
Therapure Biopharma Inc. is an integrated biopharmaceutical company that develops, manufactures, purifies and packages therapeutic proteins. As a contract development and manufacturing organization (CDMO), Therapure Biopharma applies scientific, manufacturing, and downstream purification expertise with an intimate understanding of advanced biology, complex proteins, and regulatory processes to develop effective and innovative solutions to advance products from discovery to market for its' clients. Therapure's Health Canada licensed 130,000 sq. ft. facility, includes manufacturing, research and quality control laboratories and a cGMP warehouse, is built to U.S. FDA, EMEA, MHRA and Health Canada standards for the aseptic handling and purification of proteins.
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 develop and commercialize new products on a timely basis, non-adoption of products by new customers, resistance to business model for commercialization and implementation; risks associated with commercializing new products; and risks associated with outsourcing production including control over costs, quality, quantity and timeliness of delivery of products. These forward-looking statements represent the Companies' 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.