Sonoma Pharmaceuticals Announces Asset Purchase Agreement with Middle East Partner MicroSafe Group
February 27 2020 - 5:00PM
Sonoma Pharmaceuticals, Inc. (Nasdaq: SNOA), a specialty
pharmaceutical company dedicated to identifying, developing and
commercializing unique, differentiated therapies to millions of
patients living with chronic skin and wound conditions, is pleased
to announce that it successfully closed on an asset purchase
agreement for certain wound care, disinfection and animal health
care products in the Middle East, Australia and Europe for $1.1
million with MicroSafe Group.
Sonoma’s long-term partnership with MicroSafe in the Middle East
has led to the successful growth of sales of Microcyn® Technology
products in the region. Sonoma’s unique and versatile Microcyn®
Technology has, for example, been widely used for wound cleansing
and irrigation, as well as a disinfectant for surfaces, such as in
Mecca during the Hajj season, to reduce the risk of transmission of
infectious diseases. Pursuant to the new agreement, MicroSafe will
continue to have the exclusive right to distribute a wide range of
wound care and animal health care products in the Middle East and
acquire the exclusive right to distribute disinfectant products in
Europe and Australia. Sonoma will provide MicroSafe with products
for up to ten years at negotiated transfer prices.
“We are delighted to continue our partnership with Sonoma and
expand our reach across new regions,” said Mrs. Safa Qadumi, CEO of
MicroSafe Group.
“We are pleased to take our partnership with MicroSafe to the
next level,” said Amy Trombly, CEO of Sonoma. She continued, “Our
patented Microcyn® Technology has improved the lives of millions of
patients worldwide and we are excited to work with strong
international partners such as MicroSafe to develop and distribute
our products.”
About Sonoma Pharmaceuticals, Inc.
Sonoma Pharmaceuticals is a specialty pharmaceutical company
dedicated to identifying, developing and commercializing unique,
differentiated therapies to millions of patients living with
chronic skin conditions. Sonoma offers early-intervention relief
with virtually no side-effects or contraindications. The company
believes its products, which are sold throughout the United States
and internationally, have improved patient outcomes for more than
six million patients by treating and reducing certain skin diseases
including acne, atopic dermatitis, scarring, infections, itch, pain
and harmful inflammatory responses. Sonoma’s vision is to be a
catalyst for improved care and increased access for all patients.
The company's headquarters are in Petaluma, California,
with manufacturing operations in the United States and Latin
America. European marketing and sales are headquartered in
Roermond, Netherlands. More information can be found at
www.sonomapharma.com.
About MicroSafe Group
The MicroSafe Group has operations in several countries with its
head office in Dubai, United Arab Emirates. With several regional
offices in the Middle East as well as Australia, MicroSafe Group is
able to provide innovative solutions to a wide range of industries
and healthcare providers. The MicroSafe Group promotes only those
products it believes will truly revolutionize healthcare – products
that will enrich the lives of patients and healthcare professionals
all over the world. More information can be found
at www.microsafe.com.
Forward-Looking Statements
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 commercial and
technology progress and future financial performance of Sonoma
Pharmaceuticals, Inc. and its subsidiaries. These forward-looking
statements are identified by the use of words such as “continue,”
and “expand,” 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 meet the company’s cash needs, fund further
development and clinical studies, 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. The
company disclaims any obligation to update these forward-looking
statements, except as required by law.
Sonoma Pharmaceuticals™ and Microcyn® are trademarks or
registered trademarks of Sonoma Pharmaceuticals, Inc. All other
trademarks and service marks are the property of their respective
owners.
Media and Investor Contact:
Sonoma Pharmaceuticals, Inc.
ir@sonomapharmaceuticals.com
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