Saturday, February 11, 2017

Oculus Innovative Sciences Announces Corporate Name Change to Sonoma Pharmaceuticals, Inc. and New NASDAQ Ticker Symbol to Better Align with Dermatology Focus


Source:  Sonoma Pharmaceuticals, Inc.

Oculus Innovative Sciences, Inc. (NASDAQ: OCLS, warrants OCLSW), a specialty pharmaceutical company that develops and markets solutions for the treatment of dermatological conditions and advanced tissue care, today announced that on December 6, 2016, it will officially change the name of the company to Sonoma Pharmaceuticals, Inc. In conjunction with the name change, the company’s ticker symbol listed on the NASDAQ will change from OCLS to SNOA (warrants SNOAW), effective December 6, 2016. The company’s new web site will be www.sonomapharma.com.

“We are pleased to align our corporate name and identity with our strategic initiative as a specialty pharmaceutical company focused on the high-margin U.S. dermatology market,” said Jim Schutz, CEO of Sonoma Pharmaceuticals. “In addition to our name change, seminal to this transition was the October sale of our Latin American assets, which generated nearly $20 million in cash, enabling us to expand our marketing and sales efforts with no dilution to our shareholders in this highly profitable dermatology niche. As a result, we believe this will generate more rapid sales growth, thus accelerating our shift towards overall breakeven and profitability.”

Oculus initiated a strategic turnaround plan in April 2014, at which time the company installed a new board of directors, a new CEO and a seasoned dermatology sales team. This new team collectively identified U.S. dermatology as its core market, with hospital sales, animal health and international markets being deemed non-core in nature. The company’s current product portfolio consists primarily of dermatology and advanced tissue care products based upon the company’s two proprietary and patented technologies, Microcyn® and Lipogrid®.

Microcyn is a small-molecule oxychlorine compound with antimicrobial and anti-inflammatory properties that, in clinical settings, shows improvement in the reduction of itch and pain associated with dermal irritations and wounds, such as sores, injuries and ulcers of dermal tissue. Lipogrid Technology contains selected lipids and a lipid precursor designed to penetrate the bilayers of the skin by blending with the natural lipid building blocks. The choice of and share of lipids resemble the lipid organization of a human membrane and blend in with the natural lipid building blocks of the lipid bilayer and also penetrate beyond the outer layer of the skin, where they contribute to the synthesis of ceramides, cholesterol and free fatty acids.

About Sonoma Pharmaceuticals, Inc.
Sonoma Pharmaceuticals is a specialty pharmaceutical company that develops and markets unique and effective solutions for the treatment of dermatological conditions and advanced tissue care. The company’s products, which are sold throughout the United States and internationally, have improved outcomes for more than five million patients globally by reducing infections, itch, pain, scarring and harmful inflammatory responses. The company's headquarters are in Petaluma, California, with manufacturing operations in the United States and Latin America. European marketing and sales are headquartered in Roermond, Netherlands. More information can be found at www.sonomapharma.com.

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