BioNeutral Group, Inc. (OTCBB: BONU) has expanded its relationship with the Chertoff Group (Washington, DC). Beginning September 1, 2009, two senior members of the Chertoff Group will provide dedicated strategic and operational advisory services to BioNeutral to enhance the company’s strategic alliances, corporate operations, product testing, regulatory approvals, capital strategies and sales to the public and private sectors.
“It’s exciting working with the Chertoff Group. We believe their collective talent, combined with BioNeutral's world class chemistry, will make a significant difference in saving lives presently lost to infection. We are proud to combine our efforts to help combat communicable diseases and make the hospital and all health care facilities a safer place,” said Stephen J. Browand, President & CEO of BioNeutral Group.
“As some of the principal architects of homeland security policy and doctrine, our team has a good feel for how to examine problems from end-to-end, and how to evaluate technologies that might be brought to bear in solving those problems,” said former Homeland Secretary Chertoff, Co-Founder and Chairman of the Chertoff Group. “By working with investors, private companies, governments and others who want to grow into homeland security markets, either organically or via acquisitions, I think our firm offers a unique value proposition and perspective. Given our deep knowledge of national and international biosecurity requirements in the commercial and government sectors alike, we are uniquely positioned to help BioNeutral in all aspects of the company’s continuing growth.”
Under terms of the Agreement, Chertoff Group Principal Jeffrey W. Runge, MD and Deputy Chief Operating Officer Dr. J. Bennet Waters will devote approximately half their time exclusively to advising BioNeutral. Dr. Runge will serve as Senior Medical Advisor, and Dr. Waters will serve as Senior Operations Advisor. Dr. Runge is formerly the Assistant Secretary of Health Affairs at the Department of Homeland Security (DHS); Dr. Waters is formerly Deputy Assistant Administrator at the Transportation Security Administration and served previously as Chief of Staff of DHS’s Office of Health Affairs and as Counselor to two DHS Deputy Secretaries. In addition to Drs. Runge and Waters, other Chertoff Group principals will provide periodic support to BioNeutral regarding product testing and evaluation; acquisitions and procurement activities across commercial and federal targets; and capital-raising strategies.
“I believe BioNeutral’s technology has the potential to be game-changing,” said Chad Sweet, Co-Founder and Managing Principal at the Chertoff Group. “Based on preliminary data from independent lab testing, we are enthusiastic about the potential to instantly sterilize surfaces, fabric and skin without any known environmental effects. We believe BioNeutral’s formulations have the potential to address several difficult problems facing the Nation, including influenza pandemics, national security threats such as anthrax, and in preventing expensive and dangerous hospital acquired infections.”
Mr. Sweet previously served as the Chief of Staff of DHS and at the CIA. In addition to his expertise in security, he worked for twelve years in finance with Goldman Sachs and Morgan Stanley. At Chertoff Group, Mr. Sweet utilizes his unique background in intelligence, homeland security, and investment banking to advise companies and private equity firms expanding within the defense, aerospace, and security industries.