Oculus strikes $1 million development and marketing deal

<p>Petaluma biotech startup Oculus Innovative Sciences has reached a $1 million deal with a pharmaceutical group to develop and market products based on its Microcyn technology, the companies said Tuesday.</p><p>The partnership with Amneal, a $300 million New Jersey company that focuses on generic drugs, will help Oculus expand its business in the U.S., Europe and Canada, said Hoji Alimi, Oculus' chief executive officer.</p><p>“This next-generation collaboration is an important milestone for Oculus,” he said.</p><p>Oculus makes and sells infection-fighting liquid and related products using Microcyn, an active oxychlorine compound. Under the agreement announced Tuesday, an Amneal company will pay $500,000 to develop a new acne drug with Microcyn for the U.S. and European markets.</p><p>Another Amneal subsidiary will pay $500,000 for a license to market Oculus' dermatitis hydrogel product in the U.S. and Canada.</p><p>Amneal also will promote Oculus' wound care products in the U.S. podiatry market.</p><p>Oculus reported $2.3 million in sales for the third quarter ended Dec. 31, compared to $1.6 million for the same period a year ago.</p><p>It reported a net loss of $2.2 million last quarter.</p><p>The startup has about 70 employees worldwide, including 35 at its Petaluma headquarters.</p>