BOULDER, CO / ACCESSWIRE / January 31, 2023 / Sonoma Pharmaceuticals, Inc. (Nasdaq:SNOA), a global healthcare leader developing and producing patented Microcyn® technology based stabilized hypochlorous acid (HOCl) products for a wide range of applications, including dermatology, eye, oral and nasal care, and wound care, today announced that it has entered into a distribution agreement with Daewoong Pharmaceutical Co., Ltd. for the marketing and distribution of PrimocynTM Skin Solution products in South Korea.
Daewoong Pharmaceutical is one of the largest pharmaceutical companies in South Korea, generating over $1 billion in revenues annually. Pursuant to the distribution agreement, Daewoong Pharmaceutical will have the exclusive right to market, sell and distribute Primocyn Skin Solution products, containing Sonoma's Microcyn technology, in South Korea.
"We believe Primocyn Skin Solution, manufactured by Sonoma Pharmaceuticals, will provide healing and relief to our customers, and will complement our existing line of skin care and healthcare products. We are pleased to be partnering with Sonoma as the distributor for these products in South Korea," said Chris Baik, Business Development and Pharmacist, for Daewoong Pharmaceutical.
"Daewoong Pharmaceutical is a leader in the pharmaceutical industry with significant knowledge of the healthcare and skin care markets in South Korea. Our Microcyn-powered Primocyn products have been sold in South Korea for years, and we look forward to this new partnership with Daewoong Pharmaceutical to open up new sales channels and increase sales of Primocyn in South Korea," said Amy Trombly, CEO of Sonoma Pharmaceuticals.
About Daewoong Pharmaceutical Co., Ltd.
Since its establishment in 1945, Daewoong Pharmaceutical has grown to become one of the largest pharmaceutical companies in South Korea. With its strong and competent in-house R&D and cGMP qualified manufacturing facilities, Daewoong Pharmaceutical provides a total healthcare solution to patients across the globe. Daewoong Pharmaceutical offers products in therapeutic areas, such as endocrinology, central nervous system, musculoskeletal, nephrology, antineoplastic, cardiovascular, and other diseases. More information about Daewoong Pharmaceutical can be found at https://www.daewoong.co.kr/.
About Sonoma Pharmaceuticals, Inc.
Sonoma Pharmaceuticals is a global healthcare leader for developing and producing stabilized hypochlorous acid (HOCl) products for a wide range of applications, including wound care, animal health care, eye care, nasal care, oral care, disinfectant use and dermatological conditions. The company's products reduce infections, itch, pain, scarring and harmful inflammatory responses in a safe and effective manner. In-vitro and clinical studies of hypochlorous acid (HOCl) show it to have impressive antipruritic, antimicrobial, antiviral and anti-inflammatory properties. Sonoma's stabilized HOCl immediately relieves itch and pain, kills pathogens and breaks down biofilm, does not sting or irritate skin, and oxygenates the cells in the area treated, assisting the body in its natural healing process. The company's products are sold either directly or via partners in 55 countries worldwide and the company actively seeks new distribution partners. The company's principal office is in Boulder, Colorado, with manufacturing operations in Guadalajara, Mexico. European marketing and sales are headquartered in Roermond, Netherlands.
Forward-Looking Statements
Except for historical information herein, matters set forth in this press release are forward-looking within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements about the commercial and technology progress and future financial performance of Sonoma Pharmaceuticals, Inc. and its subsidiaries (the "company"). These forward-looking statements are identified by the use of words such as "continue," "develop" and "expand," among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the company's business that could cause actual results to vary, including such risks that regulatory clinical and guideline developments may change, scientific data may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, protection offered by the company's patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the company's products will not be as large as expected, the company's products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to meet the company's cash needs, fund further development, as well as uncertainties relative to the COVID-19 pandemic and economic development, varying product formulations and a multitude of diverse regulatory and marketing requirements in different countries and municipalities, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. The company disclaims any obligation to update these forward-looking statements, except as required by law.
Sonoma Pharmaceuticals™ and Microcyn® are trademarks or registered trademarks of Sonoma Pharmaceuticals, Inc. All other trademarks and service marks are the property of their respective owners.