Vivione Biosciences Inc. (the “Corporation”) (TSXV:VBI), through its
wholly owned subsidiary, Vivione Biosciences, LLC, announced today that
it has signed a strategic alliance agreement with Institute for
Environmental Health, Inc (“IEH”), a Washington-based lab service
provider, to handle all laboratory testing for the Corporation’s new oil
and gas service offerings.
IEH is an internationally renowned microbiological laboratory network of
119 locations with experience in the food, agriculture and analytical
chemistry industries. The strategic alliance with IEH will provide
Vivione with access to IEH’s 119 locations, technology, personnel and
infrastructure. When coupled with Vivione’s RAPID-B system, the new
strategic alliance provides the companies with a new service opportunity
in the oil and gas sector that is unrivaled.
The new product offerings are especially significant in the oil and gas
sector, where the economic and environmental impact of microbial
contamination is an ever-present concern. The new diagnostic tests
co-developed by IEH and Vivione can reduce producers’ costs by
accurately and rapidly diagnosing the bacteria issues that could
potentially cost producers hundreds of thousands to millions of dollars.
“The strategic alliance with IEH agreement is a big win for us,” said
Vivione’s Chief Executive Officer Kevin Kuykendall. “IEH has over 13
years of experience operating 119 labs around the world, which gives us
access to facilities and necessary personnel to support our new product
offerings. As part of the strategic alliance, we will market the new oil
and gas products under the name of Petro Chemical Bio-Diagnostics.”
Mansour Samadpour, Chief Executive Officer of IEH, said, “We are excited
to be working with Vivione on these new product offerings. Both
companies have had success in the microbiology field and have worked in
food service. We believe our new suite of product offerings will provide
customers with the necessary diagnostic information to reduce their
exposure to microbial contaminations that are costing the industry
millions annually. Petro Chemical Bio-Diagnostics is the first suite of
offerings we’ve seen that provides valuable information, specifically
identifying the type of bacteria that are in wells and which biocides
will have the greatest efficacy. We believe this solution will meet the
growing needs of microbial detection within the oil and gas industry.”
Vivione’s RAPID-B system provides a universal platform that allows
companies to rapidly detect and evaluate solutions for microbial
contamination within the food, bio-therapeutics, clinical and, now, oil
and gas industries. This system provides companies with real-time
diagnostics which quickly and accurately identify and enumerate
pathogens in different products and environments. Through the launch of
the Corporation’s three new products, the Well Characterization Test
(WCT), Bio-Treatment Efficacy Test (BET) and Total Bacteria Count (TBC),
producers will be able to make more informed decisions regarding types
and quantities of biocides to use in their specific oil and gas wells.
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 IEH
Founded in 2001, IEH Laboratories & Consulting Group based in Seattle,
Washington combines consulting with accredited testing laboratories to
provide services in food, pharmaceutical and environmental safety.
Routine testing and project study services are offered through the IEH
network of laboratories with more than 119 national and international
locations, backed by the expertise of more than 65 Ph.D. level IEH staff
covering a wide range of disciplines. For more information, visit www.iehinc.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.
This news release contains forward-looking information relating to the
commercialization and the development of the RAPID-B system, Vivione’s
business and growth strategy, the anticipated benefits of the Agreement
with IEH, the success of Vivione’s product offerings in the oil and gas
sector and the ability of the RAPID-B system to generate revenue.
Readers are cautioned to not place undue reliance on forward-looking
statements. The statements in this news release are made as of the date
of this news 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.
Copyright Business Wire 2014