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News Breaks | | | | January 28, 2013 | | 08:37 EDT |  | OCLS | Oculus' Ruthigen establishes headquarters, sees public offering in FY13
Ruthigen, a fully owned subsidiary of Oculus Innovative Sciences, announced it has established independent offices at a new facility in Santa Rosa, California, in preparation for spinoff and an intended public offering in 2013. RUT58-60 is a drug candidate intended for accelerating patient discharge post surgery, on average 25% faster, as compared to current standards of care. RUT58-60 contributes to prevention and treatment of infections in hospital settings, as well as healing incision sites via promotion of angiogenesis. Designed to prevent and treat infections, including MRSA and C diff, RUT58-60's addressable market includes 46M surgical and trauma procedures performed in U.S. hospitals and more than 200M procedures globally. Oculus management is working with securities counsel and bankers on a plan to provide equity in Ruthigen to Oculus shareholders. Oculus expects the spinoff to be a tax-free stock distribution and ultimately anticipates Ruthigen to become an independent NASDAQ-traded company. Oculus has retained bankers and financial advisors for the spinoff, and expects the spinoff to be completed in 2013. Execution of the transaction requires further work relative to structure, governance and other significant matters and risks. | |
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| June 13, 2013 | | 16:10 EDT |  | OCLS | Oculus reports Q4 EPS (44c), consensus (13c)
 Subscribe for More Information | | | June 6, 2013 | | 08:15 EDT | | OCLS | Oculus announces two key agreements with subsidiary Ruthigen
Oculus Innovative Sciences announced that the company has entered into two key agreements, which establish the license and supply as well as shared services with its wholly owned subsidiary, Ruthigen. The company expects to negotiate and enter into a third agreement governing other terms of their business relationship. The effective date for all three agreements would be the closing date of Ruthigen's proposed initial public offering, if any should occur. Pursuant to the license and supply agreement, Oculus agreed to exclusively license certain of its proprietary technology to Ruthigen to enable Ruthigen's research and development and commercialization of the newly discovered RUT58-60, and any improvements to it for certain invasive procedures in human treatment as defined in the license and supply agreement. In addition, the license and supply agreement provides Ruthigen with the exclusive option, exercisable within the first five years following the effective date of the agreement, to expand the license to certain other therapeutic indications upon payment of a license expansion fee of $10M within the first two years following the effective date of the agreement or, after the two-year period, the same fee plus certain out-of-pocket costs Oculus may incur in developing products for any of the indications. Additionally, Oculus will be prohibited from using the licensed proprietary technology to sell products that compete with Ruthigen's products within the Territory, and Ruthigen cannot sell any device or product that competes with Oculus products being sold or developed as of the effective date of the license and supply agreement. | |
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