TOMI Expands SteraMist iHP Corporate Service Contracts and Clients
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The expansion of SteraMist iHP Corporate Service contracts by TOMI Environmental Solutions signifies a strategic move to consolidate its market share in the life sciences sector. The adoption of SteraMist technology by notable entities like Rising Pharmaceuticals and The University of Texas MD Anderson Cancer Center indicates a growing market confidence in TOMI's proprietary technology. This confidence is a critical factor that can influence the company's stock performance as investors often look for signs of product acceptance and customer retention. The annual contract with Rising Pharmaceuticals, in particular, demonstrates an ongoing revenue stream, which is a positive indicator for financial stability and growth prospects.
Furthermore, the shift from traditional decontamination methods to SteraMist's non-toxic and efficient technology could signal a broader industry trend. As more life sciences and healthcare facilities prioritize safety and efficiency, TOMI's market position could strengthen, potentially leading to increased sales and market penetration. However, it is essential to monitor how competitors respond to this shift and whether TOMI can maintain its technological edge in the long term.
The endorsement of SteraMist iHP technology by a prestigious institution like MD Anderson Cancer Center's Cell Therapy Laboratory underscores the product's efficacy and compatibility in sensitive environments. The ability to decontaminate without damaging critical equipment or infrastructure is crucial in settings where precision and sterility are paramount. This aspect of the technology addresses a significant pain point in the industry, potentially leading to increased demand for TOMI's services among similar facilities. As more organizations prioritize the integrity of their operations and the safety of their research environments, the demand for advanced decontamination solutions like SteraMist is likely to grow.
It is important to consider the potential impact on the company's research and development pipeline. The feedback and data gathered from these high-profile partnerships could drive innovation and improvements in TOMI's offerings, further solidifying its competitive position. This could have long-term implications for the company's growth trajectory and its ability to attract investment in a market that values technological advancement.
The announcement of new partnerships and the expansion of service contracts could be a catalyst for TOMI's stock performance. The long-term servicing contracts provide a predictable and recurring revenue stream, which is a positive development for shareholders. The financial health of a company in the life sciences industry is often closely tied to its ability to secure and maintain such contracts. The market typically responds favorably to announcements of new business, especially when it involves reputable partners like Rising Pharmaceuticals and academic institutions.
Investors should, however, be cautious and seek to understand the terms of these contracts, including their duration and value, as well as the company's capacity to fulfill them without incurring excessive costs. The scalability of service delivery and the potential for margin improvement as the technology is adopted more widely will be key factors in assessing the long-term financial impact of these developments.
- Company announces new partners including The University of Texas and Rising Pharmaceuticals
FREDERICK, Md., March 07, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination solutions, today announced an expansion in its SteraMist iHP Corporate Service contracts, reaffirming its position as a leading provider of decontamination services to corporate clients in the life sciences industry.
SteraMist iHP technology is becoming the standard decontamination technology in the life sciences sector and academic institutions with a broad spectrum of clients equipped with mobile systems, custom integrations, and service contracts. Through the expansion of corporate services contracts in the life sciences sector, TOMI’s SteraMist iHP technology is growing market share as the preferred disinfection and decontamination provider of long-term scheduled servicing and decontamination equipment. SteraMist technology offers advantages to traditional methods including faster decontamination, no toxic residue, and superior compatibility in a laboratory setting.
In a notable development, Rising Pharmaceuticals has entered into an ongoing annual contract with TOMI’s SteraMist iHP Corporate Service following the acquisition of a building previously serviced by the team. Rising Pharmaceuticals operates a state-of-the-art facility dedicated to the production of generic prescription drugs across various therapeutic categories. This contract renewal with TOMI highlights the trust and reliability placed in the Company’s services.
The University of Texas, MD Anderson Cancer Center's Cell Therapy Laboratory has chosen SteraMist iHP Corporate Service for the decontamination of its entire facility, including the cell therapy lab. The decision came after previous experiences with another decontamination service led to damage and inefficiencies. Stacy Shaftoe, Supervisor of the QC Cell Therapy Laboratory at MD Anderson stated, “We previously worked with an alternate company for decontamination, but over time we observed damage to the paint on our walls and various other areas within our facility, including critical equipment. In addition, the equipment was large and obstructive and the process was more time consuming than what we hoped it would be. SteraMist iHP Corporate Service managed to decontaminate our entire facility quickly without causing harm to the infrastructure or our sensitive equipment. We look forward to continuing our partnership with TOMI Environmental Solutions.”
Elissa J. (E.J.) Shane, COO of TOMI stated, “These developments highlight TOMI’s commitment to delivering premium decontamination services. The SteraMist iHP Corporate Service Team has successfully delivered decontamination services to leading pharmaceutical companies and other sectors, including healthcare, food safety, and emergency decontamination. We are excited about the expansion of our services and the opportunity to continue our collaborations with our valued, long-standing partners, all signaling TOMI’s long-term growth opportunity.”
The exceptional decontamination delivered by TOMI’s Corporate Service team has resulted in strong, long-term relationships with large pharmaceutical companies including Pfizer. Marking another year of successful partnership with Pfizer in Rocky Mount, their 55,600 cubic foot facility underwent its scheduled annual shutdown for comprehensive decontamination, continuing a relationship that began in 2017. LFB-USA, another prominent biopharmaceutical firm known for its cutting-edge biotherapies, also entrusted the Corporate Service team with its full facility decontamination under an annual contract initiated last year. The unparalleled speed and compatibility of the SteraMist iHP technology are key factors in these lasting partnerships.
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.steramist.com/ or contact us at info@tomimist.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 corporate service contracts with partners. 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, 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 March 2023 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:
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FAQ
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