Medizone International Inc (OTCMKTS:MZEI) shares dipped 4.51% to $0.127 on Thursday and were flat in after-hours trading. The company has a market cap of $50.03 million at 393.93 million shares outstanding. Share prices have been trading in a 52-week range of $0.04 to $0.17.
Earlier this week, Medizone International Inc announced in a press release that AsepticSure has been given a green light for US market entry by the United States Environmental Protection Agency. Prior to this, the company announced in August that its manufacturing partner Cogmedix Inc had obtained EPA company and establishment numbers to serve as a manufacturer for the AsepticSure System.
Cogmedix already held FDA medical device manufacturing status, and the EPA registration will allow the company to ship AsepticSure systems to hospitals and other users in the United States. In particular, the Oxidative Catalyst is EPA approved for use in hospitals, clinics, food industry, sporting venues, and hotels to disinfect hard, non-porous surfaces at a 1.4% concentration.
Medizone International Inc projects entering into a brief trial and demonstration period after the December holidays in a major US hospital to confirm the disinfection results previously achieved in Canada are easily repeatable. In those tests, the company confirmed that the same biological indicators used to confirm medical instrument sterilization in autoclaves may also be used to confirm absolute bactericidal kill for hospital room disinfection.
In particular, the spore test strips used in the laboratory tests allowed the company discovered that the same spore test strips are completely inactivated or killed when placed in a room during an AsepticSure run. Spore test strips that were placed under beds, on the floor, on walls and behind objects are completely deactivated 100% of the time, implying that the AsepticSure Hospital Disinfection System can now demonstrate via independent, internationally recognized testing processes.
With that, investors are awaiting results from tests and demonstrations to be conducted before the end of the year or early next year. If the tests in Canada are any indication, the AsepticSure system could produce impressive and marketable results in the US in the coming months, likely lending strong upside for the company’s stock. Medizone International Inc is very optimistic that EPA approval for US market entry signals a turning point for their commercial development program in 2017.
Medizone International Inc is a company that is engaged in designing, manufacturing and selling a system using ozone in the disinfection of surgical and other medical treatment facilities and in other applications. Its AsepticSure is an ozone-based technology, which is used for the purpose of decontaminating and disinfecting hospital surgical suites, emergency rooms, intensive care units and other enclosed spaces, such as gym locker rooms, laboratories and veterinary clinics.
Under this system, oxygen atoms are misted into the environment with a hydrogen peroxide vapor and the system’s formula creates Trioxidane. Medizone International Inc is also developing a variant of AsepticSure for governmental use with bio-terrorism countermeasures. The product has completed safety and preliminary operational trials and has demonstrated a turnaround time of approximately 90 minutes for disinfection and reoccupation of the hospital rooms.