SAN DIEGO, CA--(Marketwired - Jan 23, 2014) - PURE Bioscience, Inc. (
ICC invested in significant capital improvements to allow for the new and dedicated SDC production capability. The Company stated that the final phase of the SDC technology transfer into ICC's facility is expected to be completed during the second calendar quarter of 2014.
In December 2013, PURE and ICC established a strategic collaboration agreement whereby:
- ICC licensed PURE's patents and technology know-how for the exclusive manufacture for PURE of all current SDC-based products and;
- ICC licensed the distribution rights for SDC-based products into its core businesses of institutional cleaning and sanitation products and is developing a new initiative focused on US hospital, healthcare and medical facilities.
The strategic collaboration agreement is consistent with PURE's business strategy:
- Laser focus on its go-to-market strategy in the food industry, as a food safety solution.
- Outsource manufacturing and supply chain management to an established company in order to lower operating costs and future capital requirements while increasing capacity.
- License the distribution rights of its SDC-based products to qualified and appropriate licensors for revenue generation in non-core markets and earn royalty income.
Jim Epstein, President and CEO of ICC, stated, "Both our teams have worked collaboratively and meticulously to design, build and implement this new production capability to produce SDC-based products for both our and PURE's customers. Given our established FDA manufacturing capability, we believe our thirty years of operating history, flexibility and reliability can deliver the future SDC manufacturing requirements, no matter how large."
Hank Lambert, Chief Executive Officer of PURE Bioscience, added, "The importance of the technology transfer is that it now enables expanded SDC production capacity. This increased capacity is integral to the support of our commercialization efforts as we continue to see growing interest and acceptance from both food processors and QSRs."
About Intercon Chemical Company
Privately owned Intercon Chemical Company in St. Louis, Missouri, employees more than 100 employees at its 250,000 square foot FDA and EPA-registered cGMP compliant manufacturing facility. Intercon has operated for more than 30 years in the cleaning and sanitation chemical manufacturing and service industries with expertise in formulating, manufacturing and marketing liquids, powders and solids as well as packaging, labeling and customer training programs. Intercon provides state-of-the-art chemical products and programs to its network of distributors in multiple markets, including: food service sanitation, healthcare and infection control, facility management companies, janitorial supply companies, commercial floor care, critical process cleaning, food processing facility maintenance, institutional laundry, contract packaging and green products. For more information about Intercon Chemical Company, please visit www.interconchemical.com.
About PURE Bioscience, Inc.
PURE Bioscience, Inc. is focused on developing and commercializing its proprietary antimicrobial products that provide solutions to the health and environmental challenges of pathogen and hygienic control within the food industry. The Company's technology platform is based on patented stabilized ionic silver, and its initial products contain silver dihydrogen citrate, or SDC. SDC is a broad-spectrum, non-toxic antimicrobial agent, which offers 24-hour residual protection. As a platform technology, SDC is distinguished from existing products in the marketplace by its superior efficacy, reduced toxicity and the inability of bacteria to form a resistance to it. PURE is headquartered in El Cajon, California (San Diego metropolitan area). Additional information on PURE is available at www.purebio.com.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the Company's cash position and liquidity requirements, the Company's failure to implement or otherwise achieve the benefits of its proposed business initiatives and plans, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, including to manufacture its products, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including our annual report on Form 10-K filed October 24, 2013. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.