We are extremely interested in the Healthcare disinfectant/sterilization sector and of all the chemical technologies presented to us, we have chosen to partner with Steri - 7 as the performance of their proprietary formulations is second to none. We will be very active in promoting this new technology throughout the region
Newark, NJ (PRWEB) June 21, 2010
BioNeutral Group Inc (OTCBB : BONU), a specialty chemical technology-based life science company, announced today that its Chief Scientist, Dr. Andy Kielbania, will assist with a similar role in Steri – 7, upon the completion of the proposed acquisition by BioNeutral as the companies plan to integrate product lines to provide the best cleaner/disinfectants for the health care, industrial, military, consumer and institutional markets.
Dr. Kielbania said, "The two companies have complementary technology platforms which use different active ingredients. There will be markets where regulators/distributors prefer one or the other. Our goal is to have the best formulation for our distributors and end users. I look forward to working with Jim and his entire team".
"It's a unique combination and opportunity to create a worldwide product offering with the best claims possible. Between compliance with the British regulatory system and the EPA the combined offering would cover every major market in the world", said James Fraser CEO of Steri – 7.
Also, Steri - 7, a UK based specialty chemical company in the health care field announced today the appointment of Reza Hygiene as its exclusive distributor/manufacturer for Saudi Arabia and the Middle East. Reza Hygiene (http://www.rezahygiene.com) is a division of the large and diverse Alireza Group of Companies (http://www.rezagroup.com), owned by one of the most respected trading families in Saudi Arabia.
Keith Watson, Division Manager of Reza Hygiene said, "We are extremely interested in the Healthcare disinfectant/sterilization sector and of all the chemical technologies presented to us, we have chosen to partner with Steri - 7 as the performance of their proprietary formulations is second to none. We will be very active in promoting this new technology throughout the region".
James Fraser, CEO of Steri - 7 said, "Reza Hygiene is the perfect partner for Steri - 7. Our sporicidal formulations are the best in the field of disinfectants. The Alireza Group of Companies represent some of the best brands in the world and have the knowledge and the resources to present Steri - 7 as best of breed in the health care and related sectors".
In May, 2010, BioNeutral Group Inc. entered into a non-binding Head of Terms letter setting forth a plan to acquire all of the shares of Steri-7™. The acquisition is subject to negotiation of a definitive acquisition agreement, satisfactory completion of due diligence, completion of a specified financing transaction by BioNeutral, and other customary terms and conditions. Terms and conditions are being held confidential pending execution of a definitive agreement
About BioNeutral Group Inc.
Headquartered at the New Jersey Institute of Technology/EDC in Newark, New Jersey, BioNeutral Group, Inc., is a specialty chemical technology-based life science company that is developing and intends to commercialize a combinational chemistry-based technology which can neutralize harmful environmental contaminants, toxins and dangerous microorganisms including bacteria, viruses, mold, fungi and spores. The formulations, including Ygiene(TM) and Ogiene(TM), are both eco-friendly. The Company has combined widely used compounds in highly specialized ways to create products that dramatically enhance disinfecting and cleaning results; products include BioNeutralizers and ChemoNeutralizers. BioNeutral's proprietary platform technology has been proven effective in surface, water and airborne applications. Its antimicrobial line of products under the Ygiene(TM) brand have not yet been submitted to the EPA for approval for sale in the United States; however they have been approved in Germany and are allowed in the UK, France and Sweden.
More information about the Company may be found at http://www.bioneutralgroup.com
Steri-7(TM) is a privately held UK company with a broad product line of advanced proprietary antimicrobial formulations designed to eliminate bacteria, virus and spores in the health care and related industries with products which include sporicidal hard surface sprays, sporicidal wipes and sporicidal hand cleansers. All products are mild, environmentally friendly and provide long-lasting protection which is unique in the industry. Sales have commenced in the UK and the Middle East.
More information about Steri-7(TM) may be found http://www.steri-7.com
About Reza Group:
Reza Investment Company Ltd is wholly owned by the Alireza family, one of the oldest and most respected trading families in Saudi Arabia who have successfully developed market-leading positions in trading, manufacturing and service industries throughout Saudi Arabia
More information about The Reza Group can be found at http://www.rezagroup.com
BioNeutral routinely tests its formulations against those of its competitors. The results are published to let shareholders know how the Company's technology compares with known formulations in the market place. Any product claim for antimicrobial activity requires approval from the EPA or FDA, depending upon where and how the formulations are used. The EPA and FDA have not reviewed or confirmed the Company's data and findings. BioNeutral's antimicrobial formulations will be marketed under the brand name Ygiene™ and are not yet available for sale in the United States.
BioNeutral Group Inc.
Stephen J. Browand, President and CEO
Brian Becker, 201-341-2338