TORONTO, Sept. 28 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) announced today that Dr. Andre Uddin, President of BioStratgy Management Inc. has been hired to evaluate new strategic initiatives and help build shareholder value. This partnership was formed in an effort to enhance Microbix's relationships with the institutional investment community. "We are excited to have Dr. Uddin on board as we enter the next growth phase for Microbix," commented William J. Gastle, Chairman and CEO of Microbix, "BioStrategy Management will enhance our ability to communicate our unique message to the institutional community as we focus on forming strategic alliances to get our innovative products to market."
Dr. Uddin, was a top ranked analyst specializing in coverage of the Canadian biotechnology, pharmaceutical and medical device sectors. Dr. Uddin has held senior biotechnology and pharmaceutical analyst positions at National Bank Financial, Research Capital and Merrill Lynch Canada. Dr. Uddin holds an Honours Bachelor of Science (B.Sc.) degree in BioChemistry from the University of Toronto and a Doctor of Philosphy (Ph.D.) in Biological Chemistry from McGill University.
"The management team of Microbix has built a solid company which I believe has the potential to join the Canadian list of elite biotechnology companies that are profitable. What is unique to Microbix is that the company's base business has been generating a steady stream of cash flow providing a platform to help finance its large market products. All three of these products are approaching commercialization with growing partnering interest. Given this promising outlook, BioStrategy Management looks forward to helping build shareholder value for Microbix," said Dr. Andre Uddin.
The Company's major pipeline products include: its VIRUSMAX(TM) Technology which significantly boosts the yield of influenza virus from eggs and can help address the current global flu vaccine capacity issue; Urokinase, a thrombolytic biologic that can be used as a catheter clearing drug and has potential in new cancer drug combination; and its Semen Sexing Technology(TM) which can ensure the sex of livestock offspring resulting from artificial insemination.
"With his ten years of extensive capital market experience and strong scientific background, Dr. Uddin will be a tremendous asset to our Company as he is highly respected by the institutional investment community and biotechnology companies. He will significantly help raise the profile of our company," said Mr. Gastle.
Microbix specializes in developing proprietary biological technologies and commercializing them through global partners. Established in 1988, Microbix is headquartered in Toronto.
BioStrategy Management Inc. is a premier management consultancy firm serving the biotechnology, medical device and pharmaceutical industries.
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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