Microbix Biosystems Inc.

Good morning. Thank you everyone for joining us today. We are going to have a review of Microbex's Q3 numbers as well as an update on some of the catalysts that happened over the past quarter. With me, as always, I have Cameron Groom, CEO, Ken Hughes, COO, and Jim Curry, CFO. We won't be working off a presentation. There will be quite a bit of Q&A in the session, but this presentation will contain forward-looking statements, which you can find on the presentation on the website, which has been updated after the quarter. As I mentioned, there will be Q&A, so feel free to enter those in the bottom of your screen, or you can email them to me. With that out of the way, I'd like to introduce Cameron. Hi Cameron.

very much and and thank you um thank you for joining us as i think jim and ken q3 um was a relatively noisy quarter so i thought we'd take some time this morning to unpack the results as well as touch on some of the milestones we achieved over the months since our last investor call was made around our q2 results and one of the first things i would bring to the fore would be our execution of an alliance for Kinlytic urokinase, our drug asset that was announced on May 16th. And this partnership really achieves our goal of fully funding the return of Kinlytic with the use of third-party funds and resources. resources so that we're not in any way bleeding away resources from microbics as core missions, but rather adding to them. And our partners on that alliance, Sequel Pharma, is a portfolio company of one of the world's leading private equity investors in life sciences. And while we're not allowed to mention Who that is, anyone intrepid enough to do a little digging can probably sleuth that out. And it's worth, of course, mentioning that they have conducted considerable due diligence around Kinlitic and liked what they saw. There is one gating matter that we need to pass before they fully turn on the taps, which would involve an investment of about totaling about 50 million dollars. Canadian, about 35 million U.S. prior to the re-approval or the supplemental BLA approval to enable sales to begin on this project. So that's some pretty meaningful sums. And that's to determine and make certain that the FDA has not vastly changed its pre-COVID position on the project. And we will know that outcome soon. by the end of november i expect which should lead to further revenues to microbics from miles from upfront milestone payments as well as the reversal of the impairment that we took on this asset going into the covid at the end of uh well in covid at the end of fiscal 2020. So we're very pleased with the outcome of this partnership agreement, and we certainly hope you are too. And, you know, maybe I can ask Ann to elucidate a little bit on the nature of the interactions going forward.

Yeah, SQL is a highly sophisticated group, well financed as already discussed and with deep understanding of biologics and biological drugs. And so the due diligence was very detailed and very collegial and ended up in a good place. We will be indeed reconfirming the council that FDA provided to us in 2017 before we move forward. there's no reason to believe it will change but you know there are vagaries in this and so we'll it is a milestone we need to get to but the analytics have moved on the product is every bit as good as it ever was and the market is crying out for thrombolytics at the moment and there are rises in clots and there's an aging population and a post-COVID population and there are shortages of other the other Thumbelitic TPA in the marketplace, and we would be actually going head to head with that. So that is a great pull. We've also heard from the European regulators who have an interest in this too. So we're moving forward. The relationship with SEEK was extremely collegial. In fact, we're already visiting. And next week, we're actually going to visit the CEO role that we'll be working with in terms of the analytics. So we're getting ahead of the curve here. Everybody expects a fine outcome. And we're moving forward from there. As Cameron says, detailed due diligence, We've been involved in this file for a long time. Microbics will be supporting their technical and scientific team and we'll be paid to do that actually. So cost recovery, so we'll not be bleeding any resources for microbics whatsoever as we realise it's a very important product and bring it back to the marketplace.