BioNeutral Group, Inc. (OTC Bulletin Board: BONU), a specialty technology-based life science company, today announced it has signed a "Stand Still" agreement with a leading pharmaceutical company, DFB Pharmaceuticals, Inc. (DFB).
The Terms of the Agreement are being held Confidential. H. Paul Dorman, Chairman and CEO of DFB Pharmaceuticals, said "We believe BioNeutral's Ygiene and Ogiene technology may have opportunities in a number of markets, with the hospital, professional human and animal health care market as one of the most promising areas. Confirmation of materials compatibility and lack of product residue with flexible endoscopes will be a requirement for commercial development with any potential partner. This testing is expected to be completed within ninety (90) days. DFB will fund the expense to perform this confirmatory testing."
In partnership with Dr. Norman Miner, founder of MicroChem Laboratory, DFB has developed patented sterilant technology and recently developed a FDA approved, patented high level disinfectant product for the endoscopy market. North American rights to this product have been licensed to the Olympus Corporation, which is considered the gold standard of endoscopes.
Dr. Andy Kielbania, Chief Scientist of BioNeutral Group stated: "This confirmatory testing agreement with DFB Pharmaceuticals validates our commitment to providing a new level of safe antimicrobial effectiveness to the health care facility, professional human and veterinary health care market. We are looking forward to working with Dr. Norman Miner of MicroChem Labs, who is a well-known expert in the field of disinfectants and sterilants."