KMA Allied and Mon Ray Chemical and Manufacturing Sigh Asset Purchase Agreement for Antiperspirant and Antifungal products
KMA Allied and Mon Ray Chemical and Manufacturing Sigh Asset Purchase Agreement for Antiperspirant and Antifungal products
KMA Allied, LLC., has acquired Mon Ray Antiperspirant for Men, Mon Ray Antiperspirant for Women and 222 Antifungal Products
Babson Park, Florida and Forest City, North Carolina -- KMA Allied, LLC., and Mon Ray Chemical and Manufacturing, Inc., today announced that they have entered into an agreement under which KMA Allied would acquire the rights to Mon Ray'ss antiperspirant and antifungal line, consisting of Mon Ray's174; Antiperspirant for Men and Women, 222's174; Athlete'ss Foot Treatment and three pipeline products which are in development. Terms were not disclosed.
Bruce Osthoff, KMA Allied'ss Chairman and CEO said, In addition to our core competency in the OTC and internet market, KMA Allied is uniquely well positioned to maximize the market
potential of Mon Ray'ss products, and we expect our revenues to increase at least ten-fold as a result of this transaction. Osthoff noted that he has previously collaborated on Mon Ray'ss
Antiperspirant in the past and is very familiar with the marketing of this line. Thus, we have strong operating experience in that market arena which we can leverage in implementing our
long-term strategies for these products and for the antifungal line extensions. Also, KMA Allied will take over all manufacturing and international marketing of all the Mon Ray product
line.
Mary M. Taylor, Owner of Mon Ray said, We are extremely pleased to have executed agreements to sell all of our commercial and manufacturing assets, consistent with our stated goals.
At the close of the transaction, KMA Allied would acquire all rights to the antiperspirant products, including related trademarks, patents, intellectual property, product inventory and
other related assets. In addition, KMA Allied will focus all development efforts on the launch of the new antifungal formulations. These additional products will be Unguistat's174; for
nail fungus, Oralvastin's174; for canker sore treatment and Vermistat's174; for ringworm treatment. Mon Ray and KMA Allied agree that the long-term value of the Mon Ray franchise can be
both well protected and substantially enhanced by strategically focusing lifecycle management programs on the high growth potential of new formulations for the product line.
Stanley, Hines and Bennett are acting as legal advisor for KMA Allied for this transaction.
About Mon Ray's174; Antiperspirant
Mon Ray's174; Antiperspirant for Men and Women is approved in the United States by the U.S. Food and Drug Administrator (FDA) for treatment as an antiperspirant. Mon Ray is noted as one
of the strongest antiperspirants's in the OTC market arena.
About 222's174; Antifungal
222 is a unique antifungal designed for athlete'ss foot. It has a unique MOA designed to complete heal the fungus within 10 days of therapy. This product also is marketed in the OTC
arena.
About KMA Allied
KMA Allied, LLC., is a private held specialty OTC marketing and manufacturing company that has brought together a unique blend of OTC antiperspirants, antifungal and mineral blends . The
company focuses on the acquisition, development and commercialization of proprietary products to enhance patient quality-of-life in the OTC market. KMA'ss goal is to be the pre-eminent
provider of OTC specialty products, backed by a commitment to excellence in customer service and medical education programs. For additional information and about KMA Allied, visit the
company'ss website at www.monrayantiperspirant.com.
About Mon Ray Chemical and Manufacturing
Mon Ray is a privately held company focused on discovering, developing and commercializing new therapies for many OTC diagnosed problems.
Forward-looking Statements
This press release contains forward-looking statements, including regarding the expected closing of Mon Ray'ss sale of products rights to KMA and the potential approval of a new
formulations of the 222 product each involves risks and uncertainties. Actual results may differ materially from those, expressed or implied, in these forward-looking statements. All
forward-looking statements in this press release are qualified in their entirety by this cautionary statement
Contacts:
KMA Allied
Bruce Osthoff
863-638-1870
Mon Ray Chemical and Manufacturing
Mary Taylor
Low Bridge Road
Forest City, NC
mary.taylor (at) yahoo (dot) com