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Biotech / Medical : Micrologix biotech

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To: Graham Dellaire who wrote (25)5/14/1997 9:42:00 PM
From: Dan Hamilton   of 792
 
News from MBI...

Micrologix Biotech Inc - News Release

Exclusive world-wide licence for production technology
signed

Micrologix Biotech Inc
MBI
Shares issued 23038599
1997-05-12 close $3.8
Tuesday May 13 1997
News Release

Mr Dany Hadary reports, Micrologix Biotech Inc today announced the signing with the University of Victoria's Innovative and Development Corporation (IDC) of an exclusive world-wide licence for an enabling technology useful in the production of anti-infective peptides.

The licence applies to discoveries made by scientists at Micrologix and the University of Victoria covering a unique method for increasing the efficiency of bacterial production of cationic antimicrobial peptides. Patents covering this technology are pending. Micrologix is one of a few companies in the field of peptide antibiotics that is developing a method for manufacturing peptide antibiotics using recombinant DNA technology in bacterial systems. Recombinant DNA technology offers a commercially viable, cost effective alternative to the current synthetic manufacturing technology for the production of peptides, especially complex peptides.

The company recently announced the issuance of US Patent No. 5,593,866
covering its core recombinant DNA manufacturing technology. The acquisition of this enabling technology from IDC further strengthens Micrologix's capabilities to competitively produce and commercialize peptide-based antibiotic drugs.

Micrologix Biotech Inc is a Canadian biopharmaceutical company dedicated to the discovery, development and commercialization of novel anti-infective drugs.

The company's drug development program is based on proprietary technologies and extensive expertise in the molecular basis of microbial infections.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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