Microbix Receives $4.25 Million Order For Viral Transport Medium

An Initial Order From Government Of Ontario Procurement Authorities

MISSISSAUGA, Ontario, April 23, 2021 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix), a life sciences innovator and exporter, announces that it has received an initial order of CDN$ 4.25 million for its viral transport medium (generically known as “VTM” and branded as “DxTM” by Microbix). DxTM is a test sample-collection device that is essential for PCR-testing for the virus causing COVID-19 disease. This initial order has been made by a procurement authority representing the Province of Ontario.

In October 2020, Microbix announced a CDN$ 1.45 million grant agreement with the Ontario Together Fund (OTF) of the Ministry of Economic Development, Job Creation and Trade (MEDJCT) to provide COVID-related products, including a secure domestic supply of highest-quality VTM. With respect to VTM, Microbix has since created an optimal formulation, established & validated production methods, initiated & secured domestically-driven supply-chains, procured & validated equipment, hired & trained technical staff, scaled to the requested amounts, and achieved the necessary Health Canada qualifications.

This initial order for DxTM is entirely binding, will be delivered across Microbix’s fiscal Q3 and Q4, and is at a price within the range of prior company disclosures. A first delivery of 100,000 vials will be made in the month of May. Going forward, Microbix is now included on Ontario’s short-list of preferred vendors and is the only listed domestic manufacturer of viral transport medium.

Subject to fulfilling orders from other designates of the Government of Ontario, DxTM is also available for use throughout Canada, manufactured and distributed under Microbix’s Health Canada Medical Devices Establishment License (MDEL) and its ISO quality management systems. The suitability of DxTM has been evaluated across the multiple PCR test platforms used by Ontario’s labs and it is being produced entirely at Microbix in Mississauga, with critical ingredients and materials sourced from Canadian suppliers.

DxTM is provided in a vial that is sized to accommodate nasopharyngeal swab segments of up to 10 cm in length. Internal and external studies indicate excellent viral RNA recovery and strong product shelf-life. Further DxTM information is available at www.microbix.com and purchase enquiries can be made by e-mail to [e-mail]. COVID-19 testing organizations are also encouraged to use Microbix’s PROCEEDx “RUO” samples or REDx “IVD” controls to support molecular or antigen tests.