Helix BioMedix, Inc, a developer of bioactive peptides, has acquired 30 per cent ownership interest in NuGlow Cosmaceuticals, LLC (NuGlow). As part of the transaction, the companies have also entered into a three year supply agreement in which Helix BioMedix will provide NuGlow with finished skin care products, including certain private label cosmeceutical, sun care and acne care products. NuGlow will place its first order by July 31, 2010.
“We are pleased to announce our investment and supply agreement with NuGlow, which creates the opportunity to bring the next generation in advanced skin care technology products to consumers,” stated R Stephen Beatty, president and chief executive officer of Helix BioMedix. “NuGlow has established a tested, cost-effective and proven direct response model that I believe will increase the value proposition for the commercialization of Helix BioMedix technologies. We currently expect the initial marketing campaign to begin in the Fall with NuGlow targeting 28-50 year-old women. This campaign complements our Striking Skin Care marketing focus by including a younger demographic. Today’s announcement is particularly exciting in that it comes at a time when we expect to announce record quarterly revenue for the second quarter. We are very pleased with our continued progress as we execute on our strategic growth initiatives.”
“We are very fortunate to be able to partner with Helix BioMedix Inc.,” said Steven Sheiner, chief executive officer of NuGlow. “Their advanced line of peptides and superior formulations will allow us to expand our offerings significantly. We spent a great deal of time looking for a company with which we could build a strong direct-toconsumer business and in every way Helix BioMedix is that company.”
Helix BioMedix is a biopharmaceutical company with an extensive library of diverse bioactive peptides and patents covering six distinct classes and hundreds of thousands of peptide sequences.