NEWARK, N.J., July 6, 2010 (GLOBE NEWSWIRE) -- BioNeutral Group Inc., (OTCBB:BONU) a specialty chemical technology-based life science company, announced today that it completed an agreement with Keystone Research and Pharmaceuticals ("KRP") www.krandp.com for its proprietary formulations for use in the Veterinary, Dental and Cosmetic markets. The Terms are being held confidential.
Under the terms of the agreement BioNeutral will contribute products, knowhow and access to its Chief Scientist Dr. Andy Kielbania to help produce, promote and sell BioNeutral products in the above mentioned markets globally. BioNeutral will use Keystone Industries as its exclusive Manufacturer. KRP will provide free rent at its Germany plant for one year. KRP will give BioNeutral access to its Chief Scientist Larry Steffier and to its distributors and distribution network and include BioNeutral products at tradeshows and feature BioNeutral products in KRP's promotional literature. KRP will be spending at least $100,000 in the first year on equipment, developing production processes, marketing research, sales development and personnel.
Dr. Andy Kielbania, Chief Scientist at BioNeutral, stated: "We are pleased to be working with Keystone Industries. Their excellent track record in manufacturing, innovative technology and knowledge of the market are important attributes to this agreement."
About Keystone Industries:
Keystone Industries www.keystoneind.com is a 85 year old company with World Wide manufacturing and distribution channels with over $100 million in Annual Sales that has maintained a reputation for producing innovative, high-tech products. Keystone Research and Pharmaceutical www.krandp.com is a Division of Keystone Industries www.keystoneind.com.
Keystone Industries' main production facility and sales offices are located in Cherry Hill, New Jersey, as well as production sites in Europe and Asia. It is a privately held company that has been manufacturing and distributing dental and medical products. In the last thirty years Keystone Industries has grown significantly and has expanded into the pharmaceutical and cosmetic products markets. Most recently, the chemical division, Keystone Research and Pharmaceutical, has begun developing dental and topical medicinal products for veterinary use distributed through dealers. The Company has currently developed a new line of oral and dermal care products specifically designed to meet the needs of companion animals.
About BioNeutral Group Inc.
Headquartered at the New Jersey Institute of Technology/EDC in Newark, New Jersey, BioNeutral Group, Inc. is a specialty chemical technology-based life science company that is developing and intends to commercialize a combinational chemistry-based technology which can neutralize harmful environmental contaminants, toxins and dangerous microorganisms including bacteria, viruses, mold, fungi and spores. The formulations, including Ygiene(TM) and Ogiene(TM), are both eco-friendly. The Company has combined widely used compounds in highly specialized ways to create products that dramatically enhance disinfecting and cleaning results; products include BioNeutralizers and ChemoNeutralizers. BioNeutral's proprietary platform technology has been proven effective in surface, water and airborne applications. Its antimicrobial line of products under the Ygiene(TM) brand have not yet been submitted to the EPA for approval for sale in the United States; however they have been approved in Germany and are allowed in the UK, France and Sweden.
More information about the Company may be found at www.bioneutralgroup.com
Forward-Looking Statements
BioNeutral routinely tests its formulations against those of its competitors. The results are published to let shareholders know how the Company's technology compares with known formulations in the market place. Any product claim for antimicrobial activity requires approval from the EPA or FDA, depending upon where and how the formulations are used. The EPA and FDA have not reviewed or confirmed the Company's data and findings. BioNeutral's antimicrobial formulations will be marketed under the brand name Ygiene™ and are not yet available for sale in the United States.