MISSISSAUGA, Ontario, Dec. 24, 2021 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. ( TSX: MBX, OTCQX: MBXBF, Microbix ® ), a life sciences innovator and exporter, announces receipt of a follow-on order of C$ 4.7 million for its viral transport medium (generically known as “ VTM ” and branded “ DxTM™ ” by Microbix). DxTM is a sample-collection device that is essential for PCR-based testing for viruses that cause COVID-19 disease. This further order has been made by a procurement authority representing the Province of Ontario.
This entire order for DxTM is binding and is expected to result in C$ 1.75 million of revenues in the Q1 of fiscal 2022 ending 31 December, 2021. The balance of the order will be delivered across Q2 and Q3 of fiscal 2022; quarters respectively ending 31 March and 30 June, 2022.
Microbix’s DxTM is providing a secure and Ontario-made supply of highest quality VTM in strategically-relevant amounts. Specifically, DxTM is now supporting COVID-19 sample-collection by labs, pharmacies, public health units, and school systems across Ontario. Microbix remains the only domestic manufacturer of VTM to Ontario and is sourcing its critical raw materials from Canada-based suppliers.
The development of DxTM was assisted by a grant from the Ontario Together Fund (OTF) of the Ministry of Economic Development, Job Creation and Trade (MEDJCT) and by loan financing from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). Microbix is now proceeding to further scale its production of DxTM through full automation of its filling, capping, and labeling processes, with implementation to be completed at Microbix’s third Mississauga site in spring of 2022. Such scaling will enable Microbix to supply a greater proportion of Ontario’s needs while also becoming able to offer meaningful DxTM supplies to Federal and other Provinces’ agents, and to private testing laboratories.
DxTM provides excellent viral recovery and strong product shelf-life, in vials sized to fit swab segments up to 10 cm in length. DxTM product information is available at https://microbix.com and purchase enquiries can be e-mailed to customer.service@microbix.com. Clinical laboratories are also encouraged to use Microbix’s “ QAPs ™” IVD controls for COVID-testing, including for variants-of-concern and antigen tests.
Dr. Ken Hughes, COO of Microbix commented, “We are very pleased to be able to rapidly respond to Ontario’s needs for critical healthcare products such as our DxTM viral transport medium and QAPs IVD test controls – reliably delivering when and where these vital products are most needed. The secure and highest-quality domestic innovation and manufacturing that Microbix provides not only helps guard against supply disruptions, it also helps create health and prosperity for Ontarians and Canadians. Microbix is also delighted to note that we soon will hire our 100th full-time employee and expect to continue increasing our team of skilled life-sciences professionals here in Mississauga.”