OTC Markets Group Welcomes Microbix Biosystems Inc. to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. has announced the upgrade of Microbix Biosystems Inc. to the OTCQX Best Market from the OTCQB Venture Market. This transition allows Microbix, a Canadian life sciences company specializing in diagnostics-related products, to enhance visibility among U.S. investors and ensure compliance with high financial standards and corporate governance. Microbix begins trading under the symbol "MBXBF" and aims to improve liquidity and investor awareness in the diagnostics industry. The company's monthly sales are approaching C$ 2.0 million.

Positive

• Microbix upgraded to OTCQX Best Market, enhancing visibility among U.S. investors.
• The company meets high financial standards and corporate governance, improving investor confidence.
• Monthly sales nearing C$ 2.0 million indicate strong market demand.

Negative

• None.

NEW YORK, Aug. 3, 2021 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announces that Microbix Biosystems Inc. (TSX: MBX; OTCQX: MBXBF) Microbix®, a Canadian life sciences company that creates, manufactures, and markets diagnostics-related products that are innovative, proprietary, and branded, has qualified to trade on the OTCQX® Best Market. Microbix Biosystems Inc. has upgraded to OTCQX from the OTCQB® Venture Market.

Microbix Biosystems Inc. begins trading today on OTCQX under the symbol "MBXBF."  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

Jim Currie, CFO of Microbix, commented about its move to OTCQX, "Management recognizes the importance of Microbix being quoted on credible trading platforms which provide good liquidity and order fulfillment. We believe Microbix upgrading to OTCQX will help address those needs. Additionally, we're aware that few U.S. investors are even aware of Microbix or our importance to the diagnostics industry – something we're working to change."

About Microbix Biosystems Inc.
Microbix develops proprietary biological technology solutions for human health and well-being, with about 90 skilled employees and sales now approaching C$ 2.0 million per month. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs are now available in over 30 countries, distributed by 1WA (Oneworld Accuracy Inc.), Alpha-Tec Systems, Inc., Diagnostic International Distribution SpA., Labquality Oy, The Medical Supply Company of Ireland, R-Biopharm AG, SDT Molecular Pte Ltd,  Seegene Canada Inc., and Thomas Scientific LLC. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides CE marked products.

Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably viral transport medium (DxTM™) to stabilize patient samples for lab-based molecular diagnostic testing and Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is traded on the TSX and OTCQX, and headquartered in Mississauga, Ontario, Canada.

Further information about Microbix is available from the company website at https://microbix.com and from the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at sedar.com.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities.  Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

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Media Contact: OTC Markets Group Inc.
+1 (212) 896-4428
media@otcmarkets.com 

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SOURCE OTC Markets Group Inc.