Microbix in $25-million viral antigen supply pact
Microbix Biosystems (TSX:MBX) agreed to supply an existing long-term customer with an increasing quantity of its viral antigen products over the next five years, with an option to extend that term.
Microbix’s customer is a major global diagnostics company, with growing sales of infectious disease tests that require more antigen supply. Sales from the agreement are expected to total $25-million, with approximately $10-million being new business.
The agreement also expedites the conversion to product derived from Microbix’s new bioreactor, replacing its roller-bottle processes. The bioreactor process is expected to provide enhanced manufacturing capacity and immediate economic benefits for both Microbix and its customers. The companies have also agreed to explore additional opportunities to collaborate.
In a statement, Cameron Groome, president and CEO of Microbix, said the expanded agreement reinforces the company’s position as a leading global provider of infectious disease antigens.