Microbix Expands Supply Agreement

Microbix Biosystems (TSX:MBX) announced an agreement to increase the quantity of Microbix’ viral antigen products supplied to a long-term undisclosed customer over the next five years.
As quoted in the press release:

Sales from the agreement are expected to total $25 million, with approximately $10 million being new business.
Microbix infectious disease antigens are incorporated into diagnostic tests used by laboratories and hospitals around the world. The customer is a major global diagnostics company with growing sales of infectious disease tests that require more antigen supply.
The agreement also expedites the conversion to product derived from Microbix’ 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.

Click here to read the full press release.

Source: www.marketwired.com