Microbix announces extension of agreement with major vaccine producer

TORONTO, June 24 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) 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.
Microbix specializes in developing proprietary biological technologies
and then commercializing those technologies through global partners. Its
products include biotherapeutic drugs, vaccines, and infectious disease
diagnostics. Established in 1988, Microbix is headquartered in Toronto. Its
major clients are multinational manufacturers including some Fortune 500
companies.

This press release contains 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. These
forward-looking statements represent the Company's judgment as of the date of
this press release. The Company disclaims any intent or obligation to update
these forward-looking statements.

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