Spectrum Antimicrobials, Inc. announces Strategic Partnership and Licensing Agreement with SpectrumX in the United Kingdom for the use of Spectricept, its Patent Pending HOCl Disinfectant Solution.
Petaluma, Calif. — August 4th, 2020 — Spectrum Antimicrobials, Inc. announced today a new partnership and licensing agreement with SpectrumX in the United Kingdom for the launch of Spectricept, one of its patent-pending non-toxic antiviral and antimicrobial formulations. Spectricept will be used as the active agent in the SpectrumX misting tunnels, to be placed at public venues such as stadiums, concert halls, subways, and airports for the reduction of potential pathogens carried by individuals into public spaces. Under the terms of this agreement, SpectrumX will make a direct investment of $2.5M into Spectrum Antimicrobials, Inc., consistent with the company’s current private placement offering. SpectrumX will also provide additional investments to support the construction of a manufacturing plant in the UK and provide support for any related operational costs during the initial 12-months of operations in the U.K. Under the term of this agreement, SpectrumX can increase its investment to a maximum of $5M within 12 months post the execution of this agreement.
Spectrum Antimicrobials, Inc. is a manufacturer of novel broad-spectrum antiviral and antimicrobial drugs and technologies in the United States. Spectrum’s PKU-474 disinfectant solution is a patent-pending broad-spectrum antimicrobial and antiviral formulation that can be used safely to reduce the risk of both microbial and viral contaminants. The company’s active ingredient has successfully shown effectiveness against HIV, Coronavirus, Methicillin-Resistant Staphylococcus Aureus (MRSA), as well as other pathogens. In light of the global COVID-19 pandemic, Spectrum Antimicrobials, Inc. is seeking to form partnerships for its portfolio of drugs and disinfectant products, to bring both preventative and therapeutic measures to markets around the world.
“We are excited to work with SpectrumX,” said Hoji Alimi, (CEO at Spectrum Antimicrobials, Inc.) “To bring to market effective solutions for the better management of the current pandemic. We are eager to expand our commercial footprint in key geographic markets including the U.K. and Europe and secondarily to initiate new partnerships to advance our therapeutic drugs for the treatment of a host of infections including COVID-19.”
Damien Hancox, Co-Founder and Director of SpectrumX stated, “We hope to significantly reduce the damage caused by COVID-19 to our economy, particularly to our sports clubs, concert venues, airlines, and our public transportation systems. Our goal is to work diligently to open various entertainment venues in the fastest and safest way possible. We believe that the SpectrumX disinfection tunnel, SpectriPOD, will become a very important tool to keep people safer at sporting events and concert venues as we try to get things back to normal. Whether it is football, hockey, rugby, or cricket, we can help people get back to doing what they love.
SpectrumX is a public safety company focused on protecting people from viral and bacterial infections using world leading technologies, delivered in safe, reliable methods. The company’s core product, SpectriPOD, is an NHS approved manufacturer built sanitisation walk-through system that can carry out safety protocols swiftly and contact-free to large volumes of people entering or leaving mass gatherings, such as, sporting events, arts venues or travel hubs. Using medical grade technology the pods check temperatures, detect face masks and deliver a fine mist of the antiviral and antimicrobial Spectricept solution removing all pathogens from exposed skin and clothing surfaces. In conjunction with mandatory mask wearing, social distancing and other preventative measures, the SpectriPOD offers the highest degree of public safety for organisers of mass gatherings
About Spectrum Antimicrobials, Inc.:
Spectrum Antimicrobials, Inc. is focused on the development and commercialization of novel antiviral and antimicrobial drugs and technologies. Our goal is to provide preventative and therapeutic measures to significantly improve clinical outcomes when disease improvement is hampered by infection. The company has a strong pipeline of disinfectant and sterilization solutions to improve the safety of medical devices and surfaces when disinfection and sterilization are required. Our unique antiviral and antimicrobial formulations are designed to eradicate infections caused by antibiotic-resistant bacteria including but not limited to MRSA, VRE, as well as other infectious clinical pathogens such as fungal and necrotizing fasciitis without inducing resistance.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the possibility that regulatory authorities may not approve Spectricept in the currently anticipated timelines, and marketing approvals, if granted, may have significant limitations on their use. As a result, Spectricept may never be successfully commercialized. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. All forward-looking statements are based on information currently available to Spectrum Antimicrobials. Inc. and Spectrum Antimicrobials, Inc. assumes no obligation to update any such forward-looking statements.