Oxygen Biotherapeutics, Inc. ("OBI") (NASDAQ: OXBT), announced today
that it has entered into a License and Supply Agreement with the
Cosmetics Division of Valor SA of Lausanne, Switzerland, for Dermacyte,
a perfluorocarbon based cosmetic product currently manufactured and
distributed by Oxygen Biotherapeutics. Per the agreement, Valor was
granted the exclusive right to sell, import, export, distribute,
package, label and otherwise commercialize Dermacyte. Valor also is
authorized to sublicense the license granted under this agreement
provided that such sublicenses are consistent with the terms of the
original licensing agreement.
Per the terms of the agreement, Valor must pay OBI an annual,
non-refundable license fee as well as a royalty on all sales of
Dermacyte when a specific agreed upon sales goal is achieved.
"We believe this licensing agreement is a big step forward in the
reorganization process that our company has undertaken over the last
year and a half," said Michael Jebsen, President and Chief Financial
Officer of OBI. "We have returned to our roots as a drug development
company creating our perfluorocarbon-based drug, Oxycyte®,
for traumatic brain injury, stroke and decompression sickness. Currently
we are working diligently to resume our TBI trials in Israel and
Switzerland; we are collaborating with Aurum Biosciences to develop
better MRI diagnostics for stroke patients; and we continue to provide
Oxycyte to the U.S. Navy through a material transfer agreement, which is
conducting preclinical studies using Oxycyte for decompression sickness.
In addition, we continue to make significant progress in our domestic
preclinical study program designed to urther establish the safety
profile of Oxycyte. We believe that program remains on track for
completion in June with reports being written this summer."
About Dermacyte skin care products
Dermacyte Concentrate is a highly concentrated oxygen carrier skin care
product made with our proprietary oxygen-carrier technology. It gives an
"ultra" boost to trouble spots on your face that need it most, such as
around your mouth, on your forehead, blemishes, and fine lines around
Dermacyte Oxygenating Eye Complex is a lightweight, paraben-free
oxygen-carrying serum bolstered by restorative ingredients such as
Vitamin C, soothing oat kernel, antioxidants, hydrating sunflower oil
and avocado essence. Furthermore, seed extracts from the Pacific and
Northeast Meadowfoam plant aid in water loss prevention, a vital
component to help overcome the drying effects of winter.
Oxycyte is a sterile, milky white, sub-micron (median diameter of
200-250 nm) perfluorocarbon (PFC) emulsion intended for intravenous
injection. It contains two key ingredients,
perfluoro(t-butylcyclohexane) and egg yolk phospholipids (an
emulsifier), along with several minor ingredients dispersed in water.
Research has shown that PFCs can dissolve and release large amounts of
gases, including oxygen and carbon dioxide. When formulated and
delivered as an intravenous emulsion, PFCs have been shown to enhance
the oxygenation of ischemic tissue.
About Oxygen Biotherapeutics, Inc.
Oxygen Biotherapeutics, Inc. is developing medical products that
efficiently deliver oxygen to tissues in the body. The company has
developed a proprietary perfluorocarbon (PFC) therapeutic oxygen carrier
called Oxycyte® that is currently in clinical and preclinical
studies for intravenous delivery for indications such as traumatic brain
injury, decompression sickness and stroke. The company has also
developed PFC-based creams and gels for topical delivery to the skin
potentially for wound care and dermatologic conditions. In addition, the
Company has commercialized its Dermacyte® line of skin care
cosmetics for the anti-aging market which, as noted above, has been
sublicensed to Valor, SA, Cosmetics Division.
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by the
company that involve risks and uncertainties and reflect the company's
judgment as of the date of this release. The forward-looking statements
are subject to a number of risks and uncertainties including matters
beyond the company's control that could lead to delays in the
commercialization of Dermacyte by Valor, our clinical study, new product
introductions and customer acceptance of these new products, and other
risks and uncertainties as described in our filings with the Securities
and Exchange Commission, including in the current Form 10-Q filed on
December 14, 2012, and our annual report on Form 10-K filed on July 24,
2012, as well as other filings with the SEC. The company disclaims any
intent or obligation to update these forward-looking statements beyond
the date of this release. This caution is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
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