FREDERICK, Md/, Oct. 10, 2022 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination, utilizing its premier Binary Ionization Technology (BIT) platform through its SteraMist products - a hydrogen peroxide-based mist and fog composed of ionized Hydrogen Peroxide (iHP), today announced that it has recently received a purchase order for an iHP Custom Engineered System (CES) from Avid Bioservices, Inc. (Avid) for implementation in Avid’s new purpose-built viral vector development and manufacturing facility in Costa Mesa, California.
Avid is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biologics. With the rapidly growing cell and gene therapy market, Avid is constructing a 53,000 square foot world-class CGMP manufacturing building dedicated to viral vector development and manufacturing. SteraMist has been chosen by Avid as its preferred decontamination method due to SteraMist’s ability to rapidly decontaminate and disinfect the area approximately four times faster than the competition, and its low percentage (7.8%) hydrogen peroxide BIT solution that provides superior material compatibility on surfaces.
During site development, a SteraMist iHP Custom Engineered System will be implemented within four (4) GMP manufacturing suites. This will require eleven (11) applicators with a single control panel and a 55-gallon BIT solution container. Earlier this month, the TOMI team began working with Avid’s team on planning the installation, which is projected to be finalized in the first half of 2023.
Atef Khezri, executive director of viral vector manufacturing at Avid Bioservices, said, “Our team at Avid looks forward to working with TOMI on the installation of the custom decontamination system. With the need for an effective and robust decontamination system to provide a sterile environment and a quick turnaround time, SteraMist was the evident solution.”
“The TOMI team put forth a great effort to win this bid. Avid conducted extensive due diligence which we were able to report successfully,” Elissa J. (E.J.) Shane, Chief Operating Officer at TOMI states. “We are well prepared for this project and eager to work with another innovative company for a seamless install of an iHP Custom Engineered System. TOMI looks forward to future opportunities to expand SteraMist throughout other areas of the facility.”
TOMI™ Environmental Solutions, Inc.: Innovating for a safer world®
TOMI™ Environmental Solutions, Inc. (NASDAQ: TOMZ ) is a global decontamination and infection prevention company, providing environmental solutions for disinfection through the manufacturing, sales and licensing of its premier Binary Ionization Technology® (BIT™) platform. Invented under a defense grant in association with the Defense Advanced Research Projects Agency (DARPA) of the U.S. Department of Defense, BIT™ solution utilizes a low percentage hydrogen peroxide as its only active ingredient and uses patented ionized Hydrogen Peroxide (iHP™) technology in all SteraMist systems to create superior disinfection. TOMI products are designed to service a broad spectrum of use sites, including, but not limited to, hospitals and medical facilities, biosafety labs, pharmaceutical facilities, commercial and office buildings, schools, restaurants, meat and produce processing facilities, and police and fire departments.
For additional information, please visit http://www.tomimist.com/ or contact us at info@tomimist.com
About Avid Bioservices, Inc.
Avid Bioservices (NASDAQ: CDMO), an S&P SmallCap 600 company, is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biologics. The company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With 29 years of experience producing monoclonal antibodies and recombinant proteins, Avid's services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the company provides a variety of process development activities, including upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of our services ranges from standalone process development projects to full development and manufacturing programs through commercialization. www.avidbio.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management’s judgment, beliefs, current trends, and anticipated product performance. These forward-looking statements include, without limitation, statements relating to anticipated financial performance and operating results, including result for the March quarter in 2022; expected growth in sales and market demand; intent to sell shares by the management; revenue opportunities of CES products and timing of revenue recognition; growth strategies of the company; anticipated manufacturing capability; and trading price of common stock. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to, the impact of COVID-19 pandemic on our business and customers; our ability to maintain and manage growth and generate sales, our reliance on a single or a few products for a majority of revenues; the general business and economic conditions; and other risks as described in our SEC filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed by us with the SEC and other periodic reports we filed with the SEC. The information provided in this document is based upon the facts and circumstances known at this time. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and we undertake no duty to update such information, except as required under applicable law.
INVESTOR RELATIONS CONTACT:
John Nesbett/Jennifer Belodeau
IMS Investor Relations
tomi@imsinvestorrelations.com
