Medizone International, Inc. announced the implementation and expansion of the Product Evaluation Agreement (the “Agreement”) with Innovasource, LLC.
KALAMAZOO, Mich., May 3, 2018 /PRNewswire/ -- Medizone International, Inc. (OTCQB:MZEI) or Medizone, manufacturer of the AsepticSure® system, today announced the implementation and expansion of the Product Evaluation Agreement (the “Agreement”) with Innovasource, LLC, a leading manufacturer of cleaning, deodorizing and disinfecting products (“Innovasource”).
Pursuant to the Agreement signed March 19, 2018, Innovasource is implementing the evaluation of the AsepticSure® system compared to existing cleaning practices in a variety of facilities and settings. In addition, as a result of the level of expressed interest in participating in the AsepticSure® product evaluation program by various third parties, Innovasource will utilize at least two AsepticSure® units in the product evaluation program. Use of AsepticSure® will be on non-porous hard surfaces, consistent with existing regulatory approval. Innovasource will work to identify additional third parties across various industries that are willing to evaluate the AsepticSure® system and to facilitate such evaluation by providing the system along with technical support to such third parties.
Medizone’s CEO, David A. Dodd, commented, “We are delighted at the progress achieved by Innovasource in identifying third parties that are interested and requesting to participate in this real-world evaluation of AsepticSure®. This represents the first evaluation of AsepticSure® within the operating process and facilities of independent, third parties. Our recent commercial roll-out of AsepticSure® is focused on ensuring that AsepticSure® is utilized and validated in real-world settings, thereby demonstrating the performance of AsepticSure®, while providing the basis for building real-world experience and demand for this unique technology. As recently announced, we continue to validate the superior performance of AsepticSure® in existing and emerging pathogens, and we are not aware of any other technology that has consistently demonstrated our level of performance across a wide range of viruses, bacteria and even, mold.”
Commenting on the Agreement, Innovasource President & CEO, Glenn Cueman, noted, “With the arrival of AsepticSure® now at Innovasource, we are proceeding to the implementation of this exciting technology in real-world settings for various third parties. We are delighted to be part of providing AsepticSure® to a variety of different, yet important customers who will clearly benefit from use of this technology in disinfecting/cleaning technology, consistently providing an unprecedented 6-log kill of viruses, bacteria and other pathogens.”
The expanded Product Evaluation Agreement builds on the existing relationship between Innovasource and Medizone that commenced with the previously announced execution by the two companies of a Sales Representative Agreement in April 2017 and a Supply and License Agreement in October 2017. Pursuant to the Sales Representative Agreement, Medizone authorized Innovasource to solicit sales of the AsepticSure® Disinfection System to specified major accounts and agreed to pay Innovasource a commission on the net receipts from such sales. The Agreement will augment Innovasource’s efforts to sell the AsepticSure® system to such accounts.
About Medizone International, Inc.
Medizone International, Inc. is focused on commercializing the AsepticSure® System, a superior disinfectant technology compared to conventional systems or practices. The company developed the AsepticSure® System to combine oxidative compounds (O3 and H2O2) to produce a unique mixture of free radicals (H2O3 known as trioxidane) with much higher oxidative potential than ozone or hydrogen peroxide alone. After securing broad IP protection for the use of trioxidane for both healthcare and non-healthcare facility disinfecting systems and bioterrorism applications, Medizone released its AsepticSure® System for use in Canada, and several other global markets.
About Innovasource LLC
Innovasource develops and markets environmentally-sustainable products for consumers and businesses. The company was founded in 2007 by a seasoned team with more than fifty years’ experience in regulated product and consumer packaged goods. Innovasource’s headquarters are in the Charlotte metropolitan region in Huntersville, North Carolina. For more information, go to: www.innovasource.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Our actual results could differ materially from those projected in these forward-looking statements, which involve a number of risks and uncertainties, including the risk that government and international agencies and organizations may not adopt our system, global economic conditions generally, government regulation, manufacturing and marketing risks, adverse publicity risks, risks associated with our entry into the U.S. and other markets, expansion and operations. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in our most recent filings with the Securities and Exchange Commission.
For press information on Medizone International, please contact:
John Pentony, Investor and Media Relations
Medizone International, Inc.
T: 01 269-202-5020
E: j.pentony@medizoneint.com
For more information, visit:
www.medizoneint.com
Email: operations@medizoneint.com
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SOURCE Medizone International, Inc.
