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Microbix Creates Influenza Vaccine Subsidiary and Announces Over-Subscribed Financing to Support the Start-up of its China JointVenture
Microbix Creates Influenza Vaccine Subsidiary and Announces Over-Subscribed Financing to Support ...
About this update from Microbix Biosystems Inc.
[{"type":"text","content":"\n\n\n\n Dec. 2, 2010 (Canada NewsWire Group) -- Microbix Creates Influenza Vaccine Subsidiary and Announces Over-Subscribed Financing to Support the Start-up of its China Joint\nVenture\n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nMicrobix Creates Influenza Vaccine Subsidiary and Announces Over-Subscribed Financing to Support the Start-up of its China Joint\nVenture\nMicrobix Reaches a Milestone in Establishing and Capitalizing its China\n Vaccine Subsidiary\n\n\nTORONTO, Dec. 2 /CNW/ - Microbix Biosystems Inc. (MBX:TSX), a\n biotechnology company focused on virology and biological technologies,\n today announced it has formed Crucible International Biotechnologies\n Corp., a wholly owned subsidiary, to facilitate the start-up and\n operation of its joint venture in China, to advance the\n commercialization of its VIRUSMAX™ technology and to increase\n shareholder value. \n\n\nMicrobix is transferring all of its influenza vaccine assets into\n Crucible, including an exclusive worldwide license to its VIRUSMAX\n technology and the Company's 50% ownership interest in the Hunan joint\n venture in China. Among other benefits, this subsidiary will bring\n VIRUSMAX to the commercial market, a successful culmination of years of\n development effort. VIRUSMAX is designed to increase influenza vaccine\n yields and has demonstrated an average yield increase of at least\n two-fold over current vaccine production methods.\n\n\nMicrobix also announced today the private placement financing of\n Crucible, to pr...