Topical Biomedics Announces Restructuring

25-Year Old Company with Safe, Natural Pain Relief Plans for Growth

Rhinebeck, NY: Topical BioMedics, Inc., makers of Topricin^® Pain Relief Cream, Topricin^® FIBRO Cream, and other natural topical pain relief medicines, has announced a series of business and management changes. This ongoing restructuring is intended to position the 25-year old company for increased growth and profitability.

Management believes that its safe, side-effect free, and scent-free OTC medicines, which contain up to 17 natural and proven active ingredients, can serve a large and largely untapped market, at a time when opioids, narcotics, and some conventional drugs used to treat common pain ailments and trauma injuries have proven dangerous and addictive.

Topricin^® medicines are sold at CVS, Walgreens, Rite Aid, Vitamin Shoppe, Whole Foods, Sprouts, Wegmans, Meijers, Kinney Drugs, Pharmaca, Nugget, and at thousands of natural markets and independent pharmacies. The products are also available online through Amazon.com, Jet.com, Walmart.com, and through the Company’s own website, Topricin.com.

Since the restructuring began in the second quarter of 2017, sales have grown by 10.2% (Q2), 12.5% (Q3), 23.6% (Q4), and 60.0% (Jan. 2018 to date). Sales were spurred in part by preliminary test consumer media campaigns. Over the 10-month period of restructuring (ending 1/31/2018), gross profits increased by 21%, operating profit increased by $226,000 (from a loss the prior period), and debt decreased by $459,000. Management plans future restructuring announcements including replacement of the current website, enhanced inventory and supply chain controls, and further scientific and medical initiatives.

As part of this restructuring, the Company named new executive management, including Dennis Barnett as Executive Chairman; founder Lou Paradise as co-Chief Executive Officer; Steven Spiegel as co-Chief Executive Office; Andy Kadison as Chief Operating Officer; Don Schreiber as Chief Financial Officer; founder Aurora Paradise as General Manager; and Mike Ossolinski as Financial Controller.

Chairman Mr. Barnett brings his experience as a US Marine officer, chemist, and senior management at Pepsico, the MTA, and other major corporations, and presently as President of Propinquity Associates Business and Management Consulting.

Founder and co-CEO Mr. Paradise will continue his focus on product research, development, and education. His first formulations were designed to treat his own carpal tunnel pain as a US Marine, serving in Vietnam.

Co-CEO Mr. Spiegel brings his experience as a merger/acquisition attorney including at Skadden Arps and Spiegel Legal, as well as an author, entrepreneur and CEO of companies in the wellness industry.

COO Mr. Kadison brings his experience as a SONY Music Executive VP for operations/creative, senior branding executive at Viacom, as well as a wellness entrepreneur and multi-platform content creator.

CFO Mr. Schreiber brings his experience in wealth management, securities brokerage, and as a founding investor in The Family Office Association of Greenwich, Connecticut.

Founder and General Manager Mrs. Paradise will continue her focus in daily sales, supply chain, and operations/events troubleshooting. Before co-founding the Company, she had an accomplished career as an entrepreneur and in sales at Mary Kay Cosmetics.

Financial Controller Mr. Ossolinski brings his background in accounting and financial controls at private and public companies, including several companies focused on manufacturing and distribution.

Commenting on the restructuring, co-CEO Lou Paradise says, “We’ve put the best team together to help guide Topricin into a brilliant and financially sound future. I speak for Aurora and myself when I say I couldn’t be prouder of this moment and I look forward to an increasingly successful and joyful future, not only for all of us but for our shareholders, our families and our customers. We believe this restructuring will help us achieve the original vision of our products, helping countless millions of people in pain.”

Co-CEO Steve Spiegel adds, “Topricin is a gem. With this restructuring, the company, its products, and its team now have the opportunity to achieve our collective vision of making Topricin one of the world’s great pain relief platforms. This restructuring and its remarkable history defines our culture and demonstrates our team’s resolve for collaboration and thought leadership, and I am humbled and delighted to be here now as part of this very exciting and positive next chapter in Topricin’s history.”