LITTLE ROCK, AR, April 15, 2014 /CNW/ - Vivione Biosciences, Inc. (TSX:VBI), through its wholly owned subsidiary, Vivione Biosciences, LLC, announced the signing of a definitive Purchase Agreement for the RAPID B system from CMS Technology, Inc., ("CMS") a New York-based firm focused on developing and delivering cost-effective, innovative solutions to mitigate pathogen risks in food, packaging and material applications. This agreement brings together two dynamic companies with exciting new technologies in microbial detection in multiple industries.
In addition to immediate revenue generation, this agreement provides Vivione commercial validation of the RAPID-B system by demonstrating its benefits to the market and opening the door for new joint development and promotional opportunities. The system's ability to perform real-time validation studies of its products and services avails CMS immediate opportunities to prove their products efficacy. The RAPID-B system also provides a significant competitive advantage by allowing CMS to provide real time data to its customers versus its competitors who still have to wait up to 48 hours for results.
"This is clearly a win-win for both companies," said Vivione's Chief Executive Officer Kevin Kuykendall. "Vivione benefits by receiving both initial and recurring revenue under this agreement but also the opportunity for the RAPID-B system to be introduced into CMS's food producing customer base. CMS benefits by being able to scale its platform and immediately initiate real-time assessments of its antimicrobial treatments and coverings that the firm is developing."
"We are excited to acquire the RAPID-B system from Vivione," said John Meccia, Chief Executive Officer of CMS. "We surveyed the market quite thoroughly and the RAPID-B system is a superior solution that met our stringent microbial detection requirements. We can now clearly distinguish between live and dead microbes and we have clear enumeration which allows us to show real-time efficacy in our products and services. This cutting edge technology will enhance and accelerate our ability to develop solutions that make the food we eat and the products we use safer, longer lasting and more environmentally friendly."
About Vivione
Vivione is a TSX Venture Exchange listed biosciences company focused on the commercialization of its proprietary RAPID-B system; an integrated system of hardware, software and chemical reagents that quickly and accurately identify, quantify and qualify bacteria and other pathogens in key food & water safety, clinical, industrial and oil & gas environments. For more information, visit www.VivioneBiosciences.com.
About CMS Technology
CMS Technology is a specialty chemical company focused on the development and delivery of innovative, microbial resistant solutions for food, packaging and material applications. CMS Technology has developed unique, cost-effective solutions using safe, eco-friendly ingredients that deliver high efficiency without the use of harsh chemicals. For more information, visit www.CMSTechnology.com.
Cautionary Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although Vivione believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to Vivione. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, Vivione does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. Vivione undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Vivione, or its financial or operating results or (as applicable), their securities.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Vivione Biosciences Inc.
Kevin Kuykendall, Chief Executive Officer, (214) 886-5733, KKuykendall@VivioneBiosciences.comCopyright CNW Group 2014