Microbix Biosystems Inc. (
TSX: MBX, OTCQX: MBXBF,
Microbix®), a life sciences innovator and exporter,
announces investment in programs to upgrade, digitize and
fully-integrate its Quality Management System
(“
QMS”) and its Enterprise Resource Planning
(“
ERP”) platforms — to better enable its
business growth trajectory. These initiatives will support more
rapid growth in each of Microbix’s business lines — its test
ingredients business (antigens), its test Quality Assessment
Products (“
QAPs™”), and its Viral Transport Medium
(“
DxTM™”).
Microbix’s QMS and ERP systems investments will
total C$ 600,000 in fiscal 2022 — a sum fully in-line with the
use-of-proceeds described in the prospectus supporting its public
offering and private placement of May, 2021, from which it raised
over C$ 6.0 million to be used primarily for expansion-related
initiatives. Since then, Microbix has commissioned multiple new
production and release-testing laboratories, secured a 3rd building
for high-volume automated DxTM production, and increased its staff
complement of highly-trained professionals. Now Microbix is also
upgrading its mission-critical QMS and ERP systems.
MasterControl® is Microbix’s chosen
electronic-QMS (“eQMS”) provider. MasterControl
has been a market leader for over 25 years, is active in over 50
countries, and has a distinct Medtech focus — with over 750
client companies in that field. Its eQMS fully-digitizes
manufacturing batch-production-records and testing documentation to
increase throughput and reduce errors. It will also integrate with
digital Laboratory Information Management Systems
(“LIMS”) for completely paper-free operational
solutions.
NetSuite® ERP software is also being
implemented. NetSuite has over 29,000 unique clients, with over
1,000 in the Medtech/Pharma fields. Its ERP integrates seamlessly
with MasterControl eQMS to provide Microbix with a complete and
scalable digital solution that combines manufacturing,
release-testing, finance, sales and customer relationship
management, inventory control, and regulatory compliance. Full
implementation will take 18 months, with significant milestones
reached by the end of fiscal 2022.
Microbix currently operates a stringent, but
paper-based ISO9001 and ISO13485 QMS appropriate for the
highly-regulated markets in which it operates. Dr. Ken Hughes,
Microbix’s Chief Operating Officer, commented, “Our current QMS/ERP
solutions have ably supported Microbix over the last several years.
However, a stated objective is to future-proof our business as we
continue our rapid growth. Moving to state-of-the-art MasterControl
and NetSuite cloud-based digital solutions, as well as expanding
into newly-commissioned manufacturing facilities with
more-automated processes, is doing exactly that”.
Microbix’s Sales topped C$ 18.6 million fiscal
2021, growth of 77% over the prior year and with a current run-rate
of over C$ 20.0 million. Microbix is positioning itself to continue
growing rapidly by improving control systems, increasing
manufacturing capacity, and expanding the number of its product
offerings.
About Microbix
BiosystemsMicrobix develops proprietary biological
technology solutions for human health and well-being, with over 100
skilled employees and sales nearing C$ 2.0 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 30 countries, distributed by 1WA (Oneworld
Accuracy Inc.), Alpha-Tec Systems, Inc., Diagnostic International
Distribution SpA., Labquality Oy, The Medical Supply Company of
Ireland, R-Biopharm AG, SDT Molecular Pte Ltd, Seegene Canada Inc.,
and Thomas Scientific LLC. 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 viral transport medium (DxTM™) to
stabilize patient samples for lab-based molecular diagnostic
testing and Kinlytic® urokinase, a biologic thrombolytic drug used
to treat blood clots. Microbix is traded on the TSX and OTCQX, and
headquartered in Mississauga, Ontario, Canada.
Forward-Looking InformationThis
news release includes “forward-looking information,” as such term
is defined in applicable securities laws. Forward-looking
information includes, without limitation, discussion of its eQMS
and ERP goals or its providers, Microbix’s business operations and
business results, goals or outlook, risks associated with financial
results and stability, development projects such as those
referenced in its corporate presentation, regulatory compliance and
approvals, sales to foreign jurisdictions, 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 news and filings.
For further information, please contact Microbix
at:
Cameron Groome,CEO(905) 361-8910 |
Jim Currie, CFO(905) 361-8910 |
Deborah Honig, Investor RelationsAdelaide Capital Markets(647)
203-8793ir@microbix.com |
Jim Macdonald,Investor RelationsTorrey Hills Capital(858)
456-7300jm@sdthc.com |
Copyright © 2022 Microbix Biosystems Inc.
Microbix®, DxTM™, Kinlytic®, ONBOARDx™, PROCEEDx®, QAPs™ and REDx®
are trademarks of Microbix Biosystems Inc.MasterControl® is a
trademark of MasterControl, Inc.NetSuite® is a trademark of
NetSuite, Inc.
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