Microbix announces extension of agreement with major vaccine producer

28-Jun-2005

Microbix Biosystems Inc. has extended its agreement with a major international vaccine producer, whereby the two companies will continue to collaborate in evaluating Microbix' proprietary technology designed to significantly boost the production yield of flu vaccine.

The initial evaluation period was to expire June 30, 2005. Microbix' partner has now been granted an additional 90-day period to continue testing the technology.

"During this extension, the Company and its partner will also be negotiating the final terms of the definitive licensing agreement," said William J. Gastle, President and CEO. Should the companies enter into a definitive licensing agreement, Microbix will receive milestone payments and royalties on worldwide sales of product using Microbix' technology.

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