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PURE Bioscience Completes $6 Million Financing; Accelerates Direct Food Contact Go-To-Market Strategies to Commercialize SDC to Prevent Foodborne Illness
PURE Bioscience Completes $6 Million Financing; Accelerates Direct Food Contact Go-To-Market Strategies to Commercialize SDC to Prevent Foodborne Illness.
About this update from Pure Bioscience
[{"type":"text","content":"\n \n \n PURE Bioscience Completes $6 Million Financing; Accelerates Direct Food Contact Go-To-Market Strategies to Commercialize SDC to Prevent Foodborne Illness\n \n \nPURE Bioscience Completes $6 Million Financing; Accelerates Direct Food Contact Go-To-Market Strategies to Commercialize SDC to Prevent Foodborne Illness\n\nLaunch Plans for 'PURE Control(R),' a Uniquely Powerful, Less Toxic SDC-Based Processing Aid to Help U.S. Food Manufacturers Comply With Tightening Food Safety Requirements\n\n \n SAN DIEGO, CA--(Marketwired - Oct 26, 2015) - PURE Bioscience, Inc., (OTCQB: PURE), creator of the patented silver dihydrogen citrate (SDC) antimicrobial, today announced that it has closed a $6 million private placement with strategic lead investor Franchise Brands LLC. This is Franchise Brands' second investment in PURE. Franchise Brands, LLC was created in 2005 with the support and guidance of the founders of SUBWAY® restaurants*.\n Financing Advances SDC Commercialization \n The Company intends to use the proceeds of the financing to:\n \n \n Accelerate advancement of the commercialization of SDC as an FDA and USDA approved direct food contact processing aid for raw poultry and fresh produce;\n \nPursue regulatory approval for use of SDC as a direct food contact processing aid for raw meats;\n \nFurther accelerate the development of both the food processor and restaurant chain markets for PURE® Hard Surface as a food contact surface disinfectant; and\n \nSupport its operations for at least 12 months. \n \n \n Go-To-Market Strategies and Programs Underway\n The US market for poultry processing aids is estimated to be in excess of $350 million, and in excess of $300 million for produce processing aids. With a goal of being positioned to commercialize and execute immediately upon obtaining regulatory approvals, PURE is proactively engaged in both \"push\" and \"pull\" sales and marketing initiatives with processors, retailers and distributors to prime demand for PURE Control®, its SDC based processing aid. \n \n \n A number of leading processors, in both poultry and produce, are already using EPA registered PURE® Hard Surface disinfectant on plant equipment, and therefore are familiar with the benefits of PURE's superior SDC technology.\n \nFor this reason, PURE anticipates that it may be able to achieve accele...