TORONTO -- Microbix Biosystems Inc. has entered into an agreement with a major international vaccine producer whereby the two companies will collaborate in evaluating Microbix' proprietary technology designed to significantly boost the production yield of flu vaccine.
Following a successful initial review, Microbix has received a total of $250,000 for granting an exclusive right to its partner to evaluate the technology over the next five months, ending June 30. Should the companies enter into a definitive licensing agreement following this evaluation period, Microbix will then receive milestone payments and royalties on worldwide sales of product using Microbix' technology.
"While a definitive license agreement is not guaranteed, this is a significant step in commercializing the technology," said Microbix president and CEO William J. Gastle. The process developed by Microbix may yield up to a four-fold increase in flu vaccine production.
This would represent an important advantage for a flu vaccine manufacturer. If Microbix' technology meets expectations, it will allow flu vaccine to be produced in greater volumes earlier in the season than ever before. These are critical factors in being able to respond to new virus strains and widespread influenza outbreaks.
Microbix' technology has the potential to help put more flu vaccine product into the market in shorter periods of time. "It won't solve all the supply problems, but it promises tremendous gains in protecting more people against influenza in the future," Gastle said. "That's why we're excited about working with our new partner in commercializing this technology."
Source: Microbix Biosystems Inc.