Getting blasted in the face with pepper spray has never felt so good.
Eleven years after a shot of pepper spray during a self-defence demonstration inspired Wayne Perry to develop a headache and sinus relief nasal spray using an ingredient from cayenne peppers, the Rotterdam resident has sold the multi-million-dollar business the incident spawned.
A Parsipanny, N.J. startup natural products company announced Friday its acquisition of Perry’s SiCap Industries, which manufacturers the Sinus Buster nasal spray. Sinus Buster is sold in over 5,000 stores worldwide including Price Chopper and Hannaford supermarkets.
With the support of SiCap parent Dynova Laboratories, Perry hopes Sinus Buster will be sold at all major drug store chains by spring.
“The plan’s to be in every major distribution channel in the world,” said Perry.
The nasal spray’s alleviation powers stem from resins of capsaicin, an ingredient that gives peppers their spiciness. Some resins are derived from jalapenos and habaneros peppers.
Sinus Buster is Dynova’s first of what it expects to be a series of over-the-counter natural product brands. SiCap will remain in Albany, where it employs seven. Its management will remain in place.
Dynova is headed by former executives from pharmaceutical giant Novartis and medical supplies manufacturer Cardinal Health. Dynova is backed by Aisling Capital, a New York private equity firm that primarily invests in biopharmaceutical companies.
Perry, 44, stared mass marketing sinus buster three years ago, though he started selling homemade bottles of the nasal spray over eBay while he was unemployed in 2003. In 2006, SiCap’s sales in 2006 totaled $1.3 million and $2 million last year. Perry declined to disclose SiCap’s sale price.
Dynova Chief Executive Officer Lynne Millheiser-Swanbeck did not immediately return a call Friday seeking comment. Millheiser-Swanbeck previously served as Novartis’ senior vice president for its North American over-the-counter division.