Microbix Named In Special Report Calling Generic Biologics "The Next Frontier".

Financial and Biotechnology Editors

BIOWIRE2K

TORONTO--(BW HealthWire)--July 16, 2001

The New York securities firm ABN AMRO Inc. has issued a definitive report on the much debated subject of generic biologics saying that the potential for generic biopharmaceutical products is building and the opportunity for first movers into the field can be enormous.

"The potential payoffs for companies developing generic versions of biopharmaceuticals are high, given that only a select number of companies are capable of competing in this sector," the report says, stating that companies to watch possess a unique combination of biopharmaceutical savvy and manufacturing expertise and tend to be cutting edge companies.

Microbix Biosystems Inc (TSE:MBX) is among those listed; others include Barr Laboratories, Biotechnology General Corp., Cangene Corp., GeneMedix, and Ivax Corp. ABN AMRO's report "Generic Biologics: The Next Frontier" (available at www.microbix.com/investors) names products in the generic biopharmaceutical pipeline which include urokinase, insulin, human growth hormone, erythropoietin, interferon and others.

Over the next five years "more than $10 billion worth of therapeutic biological products will come off patent, and a handful of companies are positioning themselves to take advantage of this opportunity by focussing on the development and commercialization of generic biopharmaceutical products," it says.

FDA Week (a "weekly report on Food and Drug Administration policy, regulation and enforcement" from Inside Washington Publishers) has also reported in its June 15 issue that upcoming FDA guidances will confirm a shortened drug approval process that will not require applicants such as Microbix to generate their own efficacy data for generic products such as urokinase.

"These reports validate Microbix' strategy for introducing generic versions of off patent large market biopharmaceutical products using an abbreviated regulatory application pathway," says William J. Gastle, president and CEO. "We were one of the first companies to identify generic biopharmaceuticals as an emerging industry and our Company expects to get approval for marketing ThromboClear, our lead product -- the first generic version of Abbott Laboratories' Abbokinase in 2004."

Microbix specializes in developing and manufacturing tissue culture-derived biologicals for an emerging world market for biotherapeutic drugs and vaccine products. It makes intermediate biologicals used by its customers to build diagnostic products and tools used in biotechnology research.

The company has expertise in advanced culture, purification and process validation technologies. Its objective during the next decade is to become a major force in what is expected to be a $3 billion generic biotherapeutics market in North America.

Emailed questions for management of current general interest to the company's "Virtual Conference" are posted with replies on its web site at: www.microbix.com. Send emails to: [e-mail]

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.

For further information: Microbix Biosystems Inc., 341 Bering Ave., Toronto, Ont. M8Z 3A8. Tel: [phone]. Toll-free 1-800-794-6694; William J. Gastle, President and CEO (ext. 230); Media Relations Officer (ext. 255); send media queries to [e-mail]; [phone] fax number. The company's web site is: www.microbix.com.