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Oculus Innovative
Sciences
OCLS, innovator and developer of products based upon
the Microcyn® Technology platform, announced today that the company has
received payment of $5.1 million per the licensing agreement executed on
August 9, 2012 with More Pharma, a 300-plus person pharmaceutical company with
a commercial presence in Mexico, South/Central America and the Caribbean
Under the terms of the partnership, More Pharma agreed to pay Oculus an
upfront $5.1 million fee for the exclusive licensing of Oculus' Microcyn-based
human healthcare products in Mexico, South/Central America and the Caribbean.
The transition of the marketing and sales effort in Mexico to More Pharma was
initiated immediately, while expansion into other South/Central American and
Caribbean countries is dependent upon securing the needed regulatory
clearances in those regions. More Pharma will oversee and underwrite all costs
for these regulatory review and approval efforts.
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