- New Regulatory Approvals in Indonesia and Honduras
- New Distribution Partners Added in Finland and Serbia
PETALUMA, Calif., July 2, 2013 (GLOBE NEWSWIRE) -- Oculus Innovative Sciences, Inc. (Nasdaq:OCLS) a global healthcare company that designs, manufactures and markets prescription and non-prescription products in 27 countries, today announced the allowance of a Mexican patent for the use of the company's novel antimicrobial surgical solution in the treatment and prevention of peritonitis. The imminent issuance of this Mexican patent, expiring in 2027, provides Oculus' Latin American partner, More Pharma, the opportunity to pursue a new drug candidate in Latin America in parallel to Oculus' subsidiary, Ruthigen, Inc.'s, development of the drug for the U.S. market. The novel new formulation, RUT58-60, is an advanced next-generation Microcyn Technology drug candidate specifically engineered for use in invasive surgical procedures, including peritonitis.
Upon issuance of the patent, Oculus' intellectual property estate (either owned or licensed to Oculus) will include 36 issued U.S. and international patents as well 109 pending applications (including U.S. provisional applications) directed to chemical compositions, apparatuses, methods of manufacturing and therapeutic uses.
The company's Mexican and Latin American partner, More Pharma, has also received regulatory approval to market the company's Microdacyn60® family of products in Honduras. Separately, Oculus also received approval to launch a new Microcyn-based medical device in Indonesia. Finally, Oculus added two new partners in the European Union to sell the Dermacyn® family of products in Finland and Serbia.
Bruce Thornton, executive vice president of Oculus said: "Our three-pronged business strategy of adding new products and indications, new partners and new territories continues to bear fruit as we grow the Microcyn-based product portfolio in tandem with our international footprint. Now marketed in 27 countries, we are tracking to our target of being commercialized in 30 countries by March 2014. Relative to product portfolio expansion, this peritonitis patent in Mexico is a solid win for our alliance — allowing our partner, More Pharma, to pursue this sizable surgical suite opportunity in Mexico and the Latin American countries—while in parallel, our Ruthigen subsidiary, targets the U.S. surgical suite with the same RUT58-60 drug formulation."
Peritonitis is an inflammation of the peritoneum, the thin tissue that lines the inner wall of the abdomen and covers most of the abdominal organs. Peritonitis may be localized or generalized, and may result from infection (often due to rupture of a hollow organ as may occur in abdominal trauma or appendicitis) or from a non-infectious process.
About Oculus Innovative Sciences
Oculus Innovative Science is a global healthcare company that designs, manufactures and markets prescription and non-prescription products in 27 countries. The company's products are used to treat patients in surgical/advanced wound management, dermatology, women's health and animal health markets; addressing the unmet medical needs of these markets, while raising the standard of patient care and lowering overall healthcare costs. 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
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 Oculus Innovative Sciences, Inc. and its subsidiaries (the "Company"). These forward-looking statements are identified by the use of words such as "issuance," "provides," and "tracking," 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, the Company may not be able 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, the uncertainties associated with an initial public offering of a separate public company, and the discretion of the Company's Board of Directors to delay or cancel the spinoff prior to execution, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission including its annual report on Form 10-K for the year ended March 31, 2013. The Company 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.
CONTACT: Media and Investor Contact: Oculus Innovative Sciences, Inc. Dan McFadden VP of Public and Investor Relations (425) 753-2105 firstname.lastname@example.orgSource:Oculus Innovative Sciences, Inc.