FLAGSTAFF, Ariz., Jan. 6, 2020 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, announced today that it had signed a distribution agreement with New Enterprises Ltd for the marketing and sales of ContraPest® in Singapore, Malaysia and Indonesia.
The agreement calls for New Enterprises to secure regulatory approval and develop the markets at its expense, and New Enterprises will be responsible for all importation of ContraPest into those markets from SenesTech's U.S. production facilities. The agreement further contains minimum performance requirements.
"This agreement allows SenesTech to continue to focus on our domestic development, while still potentially benefiting from overseas market opportunities. New Enterprises is well qualified to develop the Maritime Southeast Asian market and, as one of our pre-IPO investors, has good insights into the potential of ContraPest," said Kenneth Siegel, SenesTech's CEO. "This sort of structure may prove useful in other parts of the world as well."
SenesTech is changing the paradigm of pest management by targeting the root cause of the problem: reproduction.
ContraPest® is an innovative technology with an approach that targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. Using a proprietary bait delivery method, ContraPest® is dispensed in a highly palatable liquid formulation that promotes sustained consumption by rat communities. ContraPest® is designed, formulated and dispensed to be low hazard for handlers and non-target species such as wildlife, livestock and pets, where the active ingredients break down rapidly.
We believe ContraPest® will establish a new paradigm in rodent control, resulting in a decreased reliance on lethal options. For more information visit the SenesTech website at www.senestech.com.
Safe Harbor Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in our filings with the Securities and Exchange Commission. Forward looking statements include, but are not limited to, our expectation regarding sales commitments, our expectation regarding the conversion of sales commitments and programs to revenue, our belief that our product is more humane, less harmful to the environment and more effective than traditional methods, and our belief that ContraPest will establish a new paradigm in rodent control without environmental effects of rodenticides. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
Investor: Robert Blum, Joe Dorame, Joe Diaz, Lytham Partners, LLC, 602-889-9700, email@example.com
Company: Tom Chesterman, Chief Financial Officer, SenesTech, Inc., 928-779-4143
SOURCE SenesTech, Inc.