- Microbix Biosystems Inc. (MBX) has signed a purchase and supply agreement for its Quality Assurance Program (QAP) products
- It has over 80 types of QAPs to support clear diagnosis’ for an unnamed customer
- Purchasing and supplying have begun for the agreement with an initial term of five years
- Microbix is forecasting seeing $5 million in sales during the first year of this agreement
- Microbix Biosystems Inc. (MBX) is up 4.00 per cent trading at $0.52 per share as of 2:25 p.m. ET
Microbix Biosystems (MBX) has signed a purchase and supply agreement for its Quality Assurance Program (QAP) products.
The QAPs support assays on molecular and antigen-based testing platforms.
Microbix stated it has over 80 types of QAPs to support a clear diagnosis of cutaneous, gastrointestinal, respiratory, and sexually transmitted infectious diseases for an unnamed customer. QAPs are used to support staff training and qualification processes for new instruments.
As a part of the agreement, the company arranged to provide a multinational diagnostics developer, manufacturer, and marketer with the QAPs. Microbix stated it will also include ONBOARDx kits to assist new purchasers with staff training and assay qualification.
Allegedly, purchasing and supplying have begun for the agreement with an initial term of five years. Microbix expects to see QAPs revenues sometime during its fourth quarter.
The customer will be providing confidential QAPs demand forecasts to Microbix, with a portion of such forecasts being binding and to be updated on a regular basis. Microbix stated it may generate sales of approximately $5 million in its initial year for this agreement.
“Our firms have been working together for many months and it is a pleasure to fully formalize our close and positive relationship… [This] customer is continuing to ensure optimal diagnosis of infectious diseases via leading-edge point-of-care PCR and antigen-based testing, including the quality management system support provided by our FLOQSwab-formatted QAPs,” Phil Casselli, Senior Vice President of Sales and Business Development of Microbix, said.
Microbix Biosystems Inc. (MBX) is up 4.00 per cent trading at $0.52 per share as of 2:25 p.m. ET.
