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Oculus Innovative Sciences Announces Two Key Agreements With Company's Subsidiary, Ruthigen, Inc.



Oculus Innovative Sciences Announces Two Key Agreements With Company's
Subsidiary, Ruthigen, Inc.

License and Supply Agreement and Shared Services Agreement Are Entered Into

PETALUMA, Calif., June 6, 2013 (GLOBE NEWSWIRE) -- Oculus Innovative Sciences
(Nasdaq:OCLS) announced today that the company has entered into two key
agreements, which establish the license and supply as well as shared services
with its wholly owned subsidiary, Ruthigen, Inc., which is focused on the
discovery, development, and commercialization of pharmaceutical-grade
hypochlorous acid-based therapeutics. The company expects to negotiate and
enter into a third agreement (Separation Agreement) governing other terms of
their business relationship. The effective date for all three agreements would
be the closing date of Ruthigen's proposed initial public offering, if any
should occur.

Pursuant to the license and supply agreement, Oculus agreed to exclusively
license certain of its proprietary technology to Ruthigen to enable Ruthigen's
research and development and commercialization of the newly discovered
RUT58-60, and any improvements to it, in the United States, Canada, European
Union and Japan, referred to as the Territory, for certain invasive procedures
in human treatment as defined in the license and supply agreement. 

In addition, the license and supply agreement provides Ruthigen with the
exclusive option, exercisable within the first five years following the
effective date of the agreement, to expand the license to certain other
therapeutic indications upon payment of a license expansion fee of $10 million
within the first two years following the effective date of the agreement or,
after the two-year period, the same fee plus certain out-of-pocket costs
Oculus may incur in developing products for any of the indications.
Additionally, Oculus will be prohibited from using the licensed proprietary
technology to sell products that compete with Ruthigen's products within the
Territory, and Ruthigen cannot sell any device or product that competes with
Oculus products being sold or developed as of the effective date of the
license and supply agreement.

Ruthigen will be required to make a total of $8,000,000 in payments to Oculus
based upon the completion of certain development and other future milestones,
and at the time of drug approval, if any should occur, supplemented with
royalty payments, which will vary between three percent and 20 percent,
increasing upon achievement of various net annual sales thresholds and
dependent upon the country of sale. 

Oculus and Ruthigen also entered into a shared services agreement that would
take effect upon the completion of Ruthigen's proposed initial public
offering, if any should occur, pursuant to which Oculus will provide Ruthigen
with general services, including general accounting, human
resources, laboratory personnel and shared R&D resources, while Ruthigen plans
to establish an independent facility and systems.   As a wholly owned
subsidiary, Ruthigen will be financed by Oculus until the completion of the
proposed initial public offering, if any should occur, and after such event,
Ruthigen would become responsible for its own expenses. 

About Oculus Innovative Sciences, Inc.

Oculus Innovative Science is a global healthcare company that designs,
manufactures and markets prescription and non-prescription products in over 20
countries. The company's products are used to treat patients in
surgical/advanced wound management, dermatology, women's health and animal
health; addressing the unmet medical needs of these markets, while raising the
standard of patient care and lowering overall healthcare costs.  The company's
headquarters are in Petaluma, California, with manufacturing operations in the
United States and Latin America. More information can be found
at www.oculusis.com

About Ruthigen

Ruthigen, Inc. is a wholly owned subsidiary of Oculus Innovative Sciences,
Inc. Ruthigen is a biopharmaceutical company focused on the discovery,
development, and commercialization of pharmaceutical-grade hypochlorous
acid-based therapeutics designed to prevent and treat infection in invasive
applications. Its lead drug candidate, RUT58-60, is a broad-spectrum
anti-infective being developed for the prevention and treatment of infection
in surgical and trauma procedures.

Forward-Looking Statements

Except for historical information herein, matters set forth in this press
release are forward-looking within the meaning of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995, including statements
about the Company's commercial and technology progress and future financial
performance. These forward-looking statements are identified by the use of
words such as "growth," "expansion" and "build," among others. Forward-looking
statements in this press release are subject to certain risks and
uncertainties inherent in the Company's business that could cause actual
results to vary, including such risks that regulatory clinical and guideline
developments may change, scientific data may not be sufficient to meet
regulatory standards or receipt of required regulatory clearances or
approvals, clinical results may not be replicated in actual patient settings,
protection offered by the Company's patents and patent applications may be
challenged, invalidated or circumvented by its competitors, the available
market for the Company's products will not be as large as expected, the
Company's products will not be able to penetrate one or more targeted markets,
revenues will not be sufficient to fund further development and clinical
studies, the Company may not meet its future capital needs, and its ability to
obtain additional funding, the ability to complete the proposed initial public
offering of Ruthigen, clearance by the relevant regulators of the regulatory
filings relating to the proposed initial public offering of Ruthigen, as well
as uncertainties relative to varying product formulations and a multitude of
diverse regulatory and marketing requirements in different countries and
municipalities, and other risks detailed from time to time in the Company's
filings with the Securities and Exchange Commission including the annual
report on Form 10-K for the year ended March 31, 2012. Oculus Innovative
Sciences disclaims any obligation to update these forward-looking statements
except as required by law.

CONTACT: Media and Investor Contact:
        
         Oculus Innovative Sciences, Inc.
         Dan McFadden
         VP of Public and Investor Relations
         (425) 753-2105
         dmcfadden@oculusis.com
        
         Ruthigen Inc.
         Sameer Harish
         Chief Financial Officer
         sharish@ruthigen.com
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