Microbix Announces Nomination to Board of Directors

For Appointment of Jennifer Stewart, Accomplished Business Leader

MISSISSAUGA, Ontario, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix®), a life sciences innovator and exporter, announces that Ms. Jennifer Stewart, an accomplished leader in Canadian business, government, and public affairs, has been nominated to become a member of its Board of Directors.

If appointed by a majority of shareholders voting at Microbix’s Annual General Meeting on Wednesday, March 30, 2022, Ms. Stewart will join the Board of Directors and will also be asked to serve as a member of the Human Resources, Compensation & Governance Committee.

Ms. Stewart is founder, President, and CEO of Syntax Strategic a leading firm in the sector of advocacy and communication for the public and private sectors. She is renowned as an expert in this field, often being called-upon by national media for commentary. Additionally, Ms. Stewart has twice been named one of the “Top 25 People in the Capital” by Ottawa Life Magazine, one of Ottawa’s “Top Forty Under Forty” by the Ottawa Business Journal and the Ottawa Chamber of Commerce, and was a finalist for Ottawa’s “Established Female Entrepreneur of the Year.”

Ms. Stewart is a journalism and communications graduate of Carleton University (Ottawa, ON) and has been actively involved in many business and community affairs roles. Her participations have included President & CEO of the Canadian Independent Petroleum Marketers Association (CIPMA), Chair of the Board of the Canadian Transportation Alliance, Co-Host and Co-Founder of The Honest Talk podcast, Chair of the Village of Carp Business Improvement Association, Board Member of the Youth Services Bureau of Ottawa Foundation, Member of the Board of Trustees for The Women in Technology Scholarship of Willis College, and on the Leadership Council of the Ottawa Regional Cancer Foundation.

Martin Marino, independent chair of Microbix’s Board of Directors, commented, “I’m delighted to welcome Jennifer on behalf of Microbix’s Directors, Management, Staff, and Shareholders. Jennifer will add her skill, connectivity, broad perspectives, and expertise to our board-level leadership. Her nomination follows a process by which our board evaluated multiple qualified candidates.”

Jennifer Stewart also remarked about her nomination, “I’ve observed how Microbix is improving public health for Ontarians and Canadians. If appointed, I look forward to helping Microbix achieve still greater success with its medical devices that support the global diagnostics sector. As a board director, I’ll be committed to accelerating its pace of value creation in a manner that also serves the public good.”

Upon her appointment, Ms. Stewart will be granted options to purchase common shares. The options will have an exercise price set by the closing price of Microbix shares on the TSX the day prior to that of their granting, a term of five years, and vest at the end of three years.

About Microbix Biosystems
Microbix develops proprietary biological and technology solutions for human health and well-being, with about 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 S.p.A., 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 OTCQB, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information
This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, all discussion regarding Ms. Stewart or her qualifications, her or others’ views, the role or actions of the board, Microbix’s business 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 domestic or 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.

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Microbix®, DxTM™, Kinlytic®, and QAPs™ are trademarks of Microbix Biosystems Inc.