New Product Launches and Collaborations
Microbix announced several new product lines and collaborations, including the QUANTDx reference materials product line and partnerships with companies like SEKISUI and Seegene. These initiatives are expected to drive future growth and expand addressable markets.
Operational Efficiency Improvements
The company achieved significant improvements in batch yields and reduced failure rates, leading to lower costs and higher margins. Investments in automation and electronic quality management systems are expected to further enhance efficiencies.
Strong Financial Position
Microbix ended the fiscal year with a strong cash balance of over $12 million and access to additional funds through an undrawn mortgage facility and line of credit, totaling up to $24 million.
Support for Industry Needs
The company continued its support for public health with new products for emerging respiratory pandemics and collaborations for cervical cancer screening in multiple countries.