Sonoma Pharmaceuticals Announces Asset Purchase Agreement with Middle East Partner MicroSafe Group
PETALUMA, Calif., Feb. 27, 2020 (GLOBE NEWSWIRE) -- 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.
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. firstname.lastname@example.org
Released February 27, 2020