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MORRISVILLE, N.C., March 10, 2011 (GLOBE NEWSWIRE) -- Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) (SIX Swiss Exchange:OXBT) today announced it has entered into an agreement with independently owned and operated Comercial Uni2, S.A. de C.V. of Mexico, for the sale of DERMACYTE products. Per the terms of the agreement, Comercial Uni2 has exclusive rights to sell and distribute Oxygen Biotherapeutics' DERMACYTE
® skin care products throughout Mexico.
Per the agreement, Comercial Uni2 commits to purchase a total of 10,000 units of DERMACYTE products over the next year. An escalating purchase requirement is in effect for the following four years. The agreement also includes an option for Comercial Uni2 to add Central America as a territory.
"Oxygen-based skin care treatments are at the cutting edge of today's cosmetics. DERMACYTE skin care lotions provide a unique value proposition in a growing Mexican cosmetics market," said Felix Bautista, owner of Comercial Uni2 S.A. de C.V. Co-owner, Luc Albert, agreed: "DERMACYTE skin care lotions form a perfect fit under our firm's mission to distribute differentiating products in Mexico."
According to DataMonitor Research, the market for skincare in Mexico increased at a compound annual growth rate of 5.2% between 2004 and 2009. The facial care category led the skincare market in Mexico, accounting for a share of 51.3%. The National Chamber of the Perfumery, Cosmetics and Toiletries Industry of Mexico anticipates 5% growth in the cosmetics and toiletries sector for 2010, the latest number available.