Oculus Innovative Sciences, Inc. Announces a Multi-Year Licensing Agreement With Eloquest Healthcare® for Microcyn®-Based Wound Care Products
FERNDALE, Mich. and PETALUMA, Calif., July 27, 2011 (GLOBE NEWSWIRE) -- Oculus Innovative Sciences, Inc. (Nasdaq:OCLS), today announced a multi-year licensing agreement with Eloquest Healthcare, a wholly owned subsidiary of Ferndale Pharma Group, Inc., to market multiple Microcyn®-based products in the United States under the Eloquest Healthcare brand, including Oculus' negative-pressure wound therapy solution and prescription wound care line. Negative pressure wound therapy is a therapeutic technique used to promote healing in acute or chronic wounds.
Tim O'Halla, vice president and chief operating officer, Eloquest Healthcare, Inc., said, "We have been most impressed with the success of the Microcyn technology in a variety of uses around the globe. We are excited about the expected impact of adding Microcyn to our U.S. portfolio and look forward to growing its presence in the wound care market with particular emphasis on its use in conjunction with negative-pressure wound therapies."
According to the agreement, Eloquest Healthcare has been granted an exclusive U.S. license for Microcyn-based negative-pressure wound therapy solution, and will promote Microcyn-based wound care products under Eloquest Healthcare Brand to U.S. hospitals, ambulatory surgical and acute care centers. Eloquest Healthcare plans to begin marketing both product lines beginning in January 2012.
Hoji Alimi, CEO of Oculus, said, "We look forward to working with Eloquest Healthcare's professional sales and marketing team, and believe this collaborative effort will help Oculus continue to deliver improved patient care and outcomes."
About Eloquest Healthcare
Eloquest Healthcare, Inc. is a wholly owned subsidiary of Ferndale Pharma Group, Inc. that is focused specifically on serving hospitals, their healthcare practitioners and, their patients. Eloquest Healthcare provides value within the acute care market by delivering solutions that minimize the risk of infection, increase patient and caregiver satisfaction and lower treatment costs.
About Oculus Innovative Sciences
Oculus Innovative Sciences is a commercial healthcare company that designs, produces and markets safe and effective tissue care products based upon the Microcyn® Technology platform, which significantly reduces the need for antibiotics while reducing infections and accelerating healing. The Microcyn Technology addresses the need for improved solutions in multiple markets including dermatology, oral care, cosmeceutical, wound care and others in the United States, Europe, India, China and Mexico and select Middle
East countries under various country specific regulatory clearances and approvals. Several solutions derived from this platform have demonstrated, in a variety of research and investigational studies, the ability to treat a wide range of pathogens, including antibiotic-resistant strains of bacteria, viruses, fungi and spores; increase blood flow to the wound site; and reduce both inflammation and pain while assisting in faster wound closure. The company's headquarters are in Petaluma, California, with manufacturing operations in the United States and Latin America. More information can be found at www.oculusis.com.
About Wound Care
In 2005, chronic and acute wound care represented an aggregate of $9.6 billion in global product sales, of which $3.3 billion was spent for the treatment of skin ulcers, $1.6 billion to treat burns and $4.7 billion for the treatment of surgical and trauma wounds, according to Kalorama Information, a life sciences market research firm. Based on Oculus' research, the markets most related to Microcyn involve approximately $1.3 billion for the treatment of skin ulcers, $300 million for the treatment of burns and $700 million for the treatment of surgical and trauma wounds. Common methods of controlling infection, including topical antiseptics and antibiotics, have proven to be only moderately effective in combating infection in the wound bed. However, topical antiseptics tend to inhibit the healing process due to
their toxicity and may require specialized preparation or handling. Antibiotics can lead to the emergence of resistant bacteria, such as MRSA and VRE. Systemic antibiotics may be less effective in controlling infection in patients with disorders affecting circulation, such as diabetes, which are commonly associated with chronic wounds. As a result, no single treatment is used across all types of wounds and stages of healing.
Except for historical information herein, matters set forth in this press release are forward-looking within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements about the Company's commercial and technology progress and future financial performance. These forward-looking statements are identified by the use of words such as "expected," "growing" and "continue," among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company's business that could cause actual results to vary, including such risks that regulatory clinical and guideline developments may change, scientific data may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient
settings, protection offered by the Company's patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company's products will not be as large as expected, the Company's products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, the Company may not meet its future capital needs, and its ability to obtain additional funding, as well as uncertainties relative to varying product formulations and a multitude of diverse regulatory and marketing requirements in different countries and municipalities, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission including the annual report on Form 10-K for the year ended March 31, 2011. Oculus Innovative Sciences disclaims any obligation to update these forward-looking statements except as required by law.
Oculus and Microcyn Technology are trademarks or registered trademarks of Oculus Innovative Sciences, Inc. All other trademarks and service marks are the property of their respective owners.
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Oculus Innovative Sciences, Inc.
Director of Public and Investor Relations
Source: Oculus Innovative Sciences, Inc.
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