Microbix Biosystems Inc has announced that the company's revenue increase by 22% for fiscal 2009 and on track for positive cash flow in fiscal 2010.

Microbix Biosystems Inc reported the financial results for 2009 and the fourth quarter of year. For the fiscal year ended September 30, 2009, the company reported revenue of C$6.08 million (US$5.7 million), a 22% increase from the same period in 2008.  In the fourth quarter of 2009, the revenue increase by 20% to C$1.5 million (US$1.4 million) compared to the quarter of last year.

Sales increases in Microbix's core business of providing biological products to the diagnostic and research industries were primarily due to greater capacity from the company's ISO-certified Watline biologic production facility, opened in April 2009 with high order volume from existing customers worldwide.

Revenue will be significantly higher if not for the negative impact of the Canadian dollar.

William Gastle, CEO of Microbix said, in 2009, the company took bold steps to position three pipeline products to generate significant revenue in the near future. 

Microbix, is headquartered in Toronto specialises in the development of biological technologies and commercialising them through global partners.