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 further 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 productsDermacyte 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 your eyes.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV