Oculus Innovative Sciences and Dancohr B.V. Enter Exclusive Distribution Agreement
PETALUMA, Calif.--(BUSINESS WIRE)--
Oculus Innovative Sciences (Nasdaq:OCLS) today announced that its subsidiary, Oculus Innovative Sciences Netherlands B.V., and Dancohr Corporation B.V., a manufacturer and wholesaler of cosmetics and salon equipment to beauty, manicure, pedicure and hair dressing professionals, have entered into an exclusive agreement for Dancohr to distribute Courtin(TM) super-oxidized solution (formulated with Oculus' Microcyn(R) Technology) in the U.K., The Netherlands, and other E.U. member states.
Under terms of the agreement, Dancohr will distribute Oculus' Microcyn Technology under the brand name Courtin to Dancohr's network of cosmetology professionals. The terms of the agreement provide for minimum purchases by Dancohr of approximately $10 million of Oculus' product over the five-year term of the agreement with the majority of payments to be made in the final three years of the agreement. The agreement provides Oculus the right to terminate the contract if minimum purchase volumes are not met.
Courtin is used in Europe for cleaning the skin during or after cosmetic handling of feet and hands and was developed using Oculus' proprietary platform, Microcyn Technology, a super-oxidized, water-based solution.
In accordance with Federal Securities laws, Oculus will file its quarterly report on Form 10Q for the quarter ending December 31, 2006, on or before its due date of March 11, 2007.
About Oculus
Oculus Innovative Sciences, Inc. is a medical technology company focused on the development, manufacture and marketing of a family of products intended to help prevent and treat infection in acute and chronic wounds. Oculus' products based on its Microcyn Technology have received CE Mark, or European Union certification, for wound cleaning and reduction of microbial load, three U.S. FDA 510(k) clearances as a medical device in wound cleaning, lubricating, moistening and dressing, and has been granted additional approvals in Canada, India and Mexico.
Oculus' principal operations are in Petaluma, California, and it conducts operations in Europe and Latin America through its wholly owned subsidiaries, Oculus Innovative Sciences Netherlands B.V. and Oculus Technologies of Mexico, S.A. de C.V. Our website is www.oculusis.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the potential value of the contract to Oculus. The forward-looking statements speak only as of the date hereof, and are subject to risks and uncertainties that could cause actual results to differ. These risks and uncertainties include risks related to the parties' ability to successfully execute under the contractual terms, demand for and performance of Oculus' products, economic factors, and other risks detailed from time to time in Oculus' SEC reports, including its Registration Statement on Form S-1, as amended. Oculus Innovative Sciences disclaims any obligation to update these forward-looking statements.
Oculus and Microcyn are trademarks or registered trademarks of Oculus Innovative Sciences, Inc. All other trademarks and services marks are the property of their respective owners.
Source: Oculus Innovative Sciences
Released February 14, 2007