NEW YORK, Dec. 1, 2016 /PRNewswire/ -- SurePure, Inc. (OTCQB: SURP) a global leader in liquid photopurification, announced today that the Company has concluded an agreement with Tamarack Biotics under which Tamarack Biotics has the right for a 90-day period to acquire units of the Company's patented photopurification technology with an invoice value of approximately USD 3.7 million.
Concurrently with the option, SurePure has entered into an agreement with Tamarack under which Tamarack will seek regulatory approvals in the United States for the processing of cow's milk and milk derivatives treated with SurePure's technology for conversion into dry powder, and SurePure has agreed, for a period of five years, not to provide its technology or equipment to any other person in the United States for the treatment of milk or milk derivatives intended to be converted into powder. Tamarack may extend the initial period of exclusivity by purchasing specified amounts of equipment from SurePure during the original exclusivity period or any extension of that period. To permit Tamarack to pursue its approval process and commercial activities, SurePure has granted Tamarack an exclusive 10-year license to its technology within the field of use.
"We're gratified that the process to confirm the efficacy of SurePure's patented 'Turbulator' technology has resulted in Tamarack's entering into a right to purchase SurePure units," said Guy Kebble, CEO of SurePure. "We're confident that SurePure's green alternative to pasteurization and chemicals will consistently deliver the consumer benefits and guaranteed food safety they require."
Bob Comstock, Tamarack Biotics CEO, stated, "SurePure's technology has proven valuable in retaining key immune activating proteins and other thermally sensitive compounds, which we expect to impart health benefits to the elderly, athletes and children. We look forward to completing our factory in anticipation of supplying the world's first commercial product containing significant quantities of immune active proteins."
SurePure is a global leader in liquid photopurification, the green alternative to pasteurization and chemicals. Using its patented 'Turbulator' technology, SurePure systems use UV-C light to purify microbiologically sensitive liquids such as wine, fruit juice and milk. Although designed to deliver food-grade solutions, it can also be harnessed to improve processing liquids such as water, brines and sugar syrup solutions, even animal blood plasma. SurePure's technology offers greater microbiological efficacy than conventional UV systems and is effective for both clear and turbid liquids, a world first. SurePure offers a greener alternative to comparable heat or chemical-based processes and significant process and energy savings. It also provides opportunities for the development of innovative and differentiated products with desired consumer benefits, guaranteed food safety and sound commercial benefits. Go to www.surepureinc.com for more information.
About Tamarack Biotics
Tamarack Biotics develops dairy products that retain more of the compounds found in raw milk. Tamarack Biotics utilizes non-thermal pathogen reduction and low temperature drying technologies that fully dry milk and milk concentrates into stable powders at temperatures not exceeding a cow's normal body temperature. Go to www.tamarackbiotics.com for more information.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those other than historical statements of fact, and can be identified by words such as "believes," "projects," "anticipates," "forecasts," and the like. These statements are based on the Companyʼs estimates, beliefs and assumptions as of the date of this press release and are not a guarantee of any future performance. Forward-looking statements are subject to certain known risks and uncertainties, which are detailed in the Companyʼs periodic filings with the SEC available at www.sec.gov. Management undertakes no obligation to update information contained herein, which is subject to change without notice.
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SOURCE SurePure, Inc.