Microbix Sues Novartis for Infringement of its VIRUSMAX® Patent
TORONTO, Jan. 6, 2014 /CNW/ - Microbix Biosystems Inc. (TSX: MBX) ("Microbix" or the "Company"), an innovator of biological products and technologies, announced today it has commenced a patent litigation against Novartis Vaccines and Diagnostics, headquartered in Basel, Switzerland, alleging infringement of its proprietary VIRUSMAX technology. The complaint was filed in the Eastern District of Texas. Microbix was granted patents for the VIRUSMAX technology in twenty-one countries between 2006 and 2011.
The Company's VIRUSMAX technology is useful for increasing virus yields in egg-based vaccine manufacture. The patent application was first published internationally in 2004 when the global market for influenza vaccine was US $1.6 billion. At that time, governments, the WHO and public health authorities worldwide expressed growing concern about limited global vaccine manufacturing capacity and supply, especially in light of a potential influenza pandemic.
The influenza vaccine market has experienced significant growth in the past ten years and is predicted to reach US $4 Billion in 2014. An independent study published in the Journal of Vaccine in 2006 reported that the application of VIRUSMAX technology led to a significant increase in flu virus production in eggs. These trials used methods comparable to those employed in seasonal influenza vaccine manufacture. The Company has also demonstrated substantial yield increases over conventional manufacturing processes for a number of influenza vaccine strains using its technology.
Vaughn Embro-Pantalony, President and Chief Executive Officer said, "VIRUSMAX is a novel technology that was developed by our Company at significant cost. The technology provides significant efficiencies to the influenza vaccine industry and it benefits the global supply of vaccine. We intend to enforce our intellectual property rights surrounding this technology."
About Microbix Biosystems
Microbix Biosystems Inc. specializes in the development of biological solutions, including products for vaccine and diagnostics markets worldwide. The company owns intellectual property for an approved biological drug, a vaccine technology and an animal reproduction technology. Established in 1988, Microbix is headquartered in Toronto.
Microbix' pipeline of innovative technologies and products includes LumiSort(R) semen sexing technology for the livestock industries, and Kinlytic(R), a thrombolytic drug with several approved and potential applications including the treatment of life-threatening blood clots, and VIRUSMAX(R), a proprietary technology for increasing virus yields in influenza vaccine manufacture.
This press release may contain forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements including the risks associated with litigation, operations in foreign jurisdictions, foreign currency and exchange rate risk, and risks of raising capital on acceptable terms or at all. 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 the 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. The Company is under no obligation to update or alter any forward-looking information.
Please visit www.sedar.com for recent Microbix Biosystems Inc. filings on its pipeline products and financial information.
SOURCE Microbix Biosystems Inc.
Visit www.microbix.com or contact: Vaughn C. Embro-Pantalony, CEO, (905) 361-8910 (ext. 350) or Charles Wallace, CFO, (905) 361-8910 (ext. 255).