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SOURCE ULURU Inc.
- Projects Positive Cash Flow in the Fourth Quarter 2013 -
- Altrazeal® Forecasted to be in 15 Markets by Year End -
ADDISON, Texas, March 18, 2013 /PRNewswire/ -- ULURU Inc. (OTCQB: ULUR) today provided a business update and outlook for the balance of 2013.
The current focus of our business activities is on the expansion of our global commercialization of Altrazeal® in conjunction with Altrazeal Trading Ltd. Currently, Altrazeal Trading Ltd. is in the process of establishing a global network of sales and marketing partners with the necessary capabilities to maximize the market potential of Altrazeal®.
Based on the success achieved to-date establishing marketing partnerships, it is anticipated that by the end of the second quarter of 2013 initial product shipments will have been made to 5-6 international sales partners.
Commenting on the international commercialization of Altrazeal®, Helmut Kerschbaumer, Managing Director of Altrazeal Trading Ltd., stated, "With the extensive clinical experience in Europe and Australia, supported by the data previously generated in the United States we have developed significant interest from potential sales and marketing partners in many European markets, including Eastern Europe, Turkey, the Middle East, the Indian subcontinent and South Africa. We are now in the very favorable position of having the opportunity to evaluate multiple potential sales and marketing partners in markets to ensure that these companies have the required capabilities to effectively sell and market Altrazeal® and maximize its long-term market potential. We have now completed agreements for two territories in the EU with product launches projected for summer 2013. Furthermore, we anticipate conclusion of additional agreements for 4 – 5 more territories within the next 60 – 90 days. We couldn't be more pleased with the response that we are receiving from potential marketing partners throughout the territory."
It is the Company's objective to have Altrazeal® marketed in over 15 markets by year-end 2013. Based on achieving this objective, the Company anticipates that it will generate both positive cash flow and be earnings before interest, taxes, depreciation and amortization (EBITDA) positive for the fourth quarter 2013. Also, given the successful roll-out of Altrazeal®, the Company believes it will not be necessary to raise additional capital beyond the capital that has been already committed to the Company.
Commenting on the business update and outlook, Kerry P. Gray, President and CEO of ULURU stated, "It is gratifying to see that the clinical and economic benefits of Altrazeal® are being recognized and that Altrazeal® will have been launched in many important international markets by year-end 2013. It will indeed be an important and significant milestone when the Company generates positive cash flow. This will establish the foundation for exciting growth in 2014 and beyond. The pieces are now being put in place to maximize the long term revenue potential of Altrazeal®."
The Company has recently initiated the production process for the manufacturing of a 2 gram blister pack, initially for introduction onto the international markets and subsequently for the United States market. Based on the overwhelming positive response to the 0.75 gram blister pack, a 2 gram blister pack configuration has been developed to replace the 2 gram aluminium pouch presentation. It is anticipated that the initial international shipment of the 2 gram blister pack will be made in June 2013.
Altrazeal® is an advanced scientifically engineered material that is unique in the field of advanced wound care dressings in terms of properties and performance. It incorporates the features and benefits of the desired "ideal" wound dressing. Altrazeal® has demonstrated potential clinical and economic advantages in a number of chronic and acute wounds including diabetic foot ulcers, venous leg ulcers, pressure ulcers and geriatric wounds.
About ULURU Inc.:
ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex™ Aggregate technology and OraDisc™ transmucosal delivery system. For further information about ULURU Inc., please visit our website at www.ULURUInc.com. For further information about Altrazeal®, please visit www.Altrazeal.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, including but not limited to statements made relating to the interest of and the success establishing marketing partners, initial shipments to international sales partners, the extensive clinical experience in Europe, Australia and the United States, potential for the conclusion of additional marketing agreements, objective to have Altrazeal® markets by year-end 2013 in 15 markets, generation of positive cash flow and EBITDA in the fourth quarter of 2013, need for additional capital and the clinical and economic benefits of Altrazeal®. These statements are subject to numerous risks and uncertainties, including but not limited to ULURU's lack of profitability, the need for additional capital to operate its business, and to risk factors detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2011, and other reports filed by us with the Securities and Exchange Commission.
Kerry P. Gray
President & CEO
Terry K. Wallberg
Vice President & CFO
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