Microbix enters exclusive review and negotiation period for proprietary influenza virus yield enhancement technology
Microbix Biosystems has entered into an exclusive review and negotiation period with a major international influenza vaccine producer for its virus yield enhancement technology for which patents are pending.
Microbix will receive monthly payments during the exclusive review and negotiation period, and US$1 million upon confirmation that its technology will deliver a four fold yield improvement to influenza vaccine production.
If successful, Microbix will receive further milestone and royalty payments.
"Influenza is the first application for Microbix's yield enhancement technology platform," said William Gastle, president and CEO, "and while no definitive license agreement is assured, this is a promising step in the commercialisation of the technology".
Microbix's yield enhancement technology is the second significant product for the company to reach the licensing stage and follows the successful partnering in November 2002 of the company's generic version of urokinase trademarked ThromboClear, which is a blood clot dissolving biopharmaceutical.
Microbix specialises in developing proprietary biological technologies.
The company has a core technology platform based on cell biology, purification and characterisation of viruses and proteins.
Microbix's objective is to develop and, through global marketing partners, commercialise those technologies that can be brought to market in less than five years.
