Medizone International, Inc. (OTC:MZEI) has announced that its Board of Directors and the Board of Medizone new Zealand Ltd. has agreed to unwind the joint venture and reconvey to Medizone International global marketing rights of its intellectual property. Medizone Chairman Edwin Marshall states that the agreement no longer fits the company’s business plan, and both parties have agreed that it would be in the best interest of both companies to terminate the marketing rights. The agreement was made on December 14, 2009 and is expected to be finalized by December 31.
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A research and development company, Medizone is engaged in the development of AsepticSure technology to decontaminate and sterilize hospital surgical suites, emergency rooms, intensive care units, schools and other infrastructure. It’s Ontario, Canada laboratory is used as the company’s primary research and development platform. The company’s primary research is on the application of AsepticSure beyond the hospital environment and the application to methicillin-resistant staphylococcus auereus including C difficile, E coli, Pseudomonas aeruginous, and vancomycin resistant enterococcus.
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