Quick-Med Technologies, Inc. Signs Manufacturing and Distribution Agreement with BASF Beauty Care Solutions
Proprietary MultiStat™ Technology Offers Multifaceted Capabilities for the
$20 Billion Global Anti-Aging Cosmetics Market
Gainesville, Florida – June 11, 2008 - Quick-Med Technologies, Inc. announced today that it has entered into a new multi-year exclusive worldwide Manufacturing and Distribution Agreement with BASF Beauty Care Solutions, L.L.C., to manufacture and distribute Quick-Med’s proprietary anti-aging technology MultiStat for use in cosmetics.
BASF Beauty Care Solutions is the premier provider of active ingredients and advanced formulations to the global cosmetics industry. It is a unit of BASF Group, the world’s largest chemical company and the world leader in active ingredients and encapsulation systems for skin care.
MultiStat is Quick-Med’s proprietary family of compounds – generally called Matrix Metalloproteinase Inhibitors – that represent a new frontier in anti-aging skin care. BASF will focus on one particular advanced and patented compound that has been shown to significantly benefit the appearance and maintenance of skin in more than 250 research studies and academic papers.
MMP Inhibitors have been proven effective in broad-based applications, including improving the appearance of fine lines and wrinkles associated with natural aging or sun-induced premature aging and damage. In addition to exclusive rights to the compounds themselves in its target markets, Quick-Med now also owns the exclusive right to use MMP Inhibitors for key anti-aging products based on its license agreement with the University of Michigan signed in 2007.
“As the premier supplier to the cosmetics industry, BASF is the ideal partner to achieve MultiStat’s exciting market potential." said J. Ladd Greeno, CEO of Quick-Med Technologies. “Our new agreement with BASF Beauty Care Solutions marks an important milestone for Quick-Med Technologies. And our exclusive rights to use this important technology in anti-aging products should help drive our success.”
The new agreement supersedes previous agreements between the two companies and provides a basis of collaboration through December 31, 2010.
About BASF Group
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals. As a reliable partner BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF has more than 95,000 employees and posted sales of almost €58 billion in 2007. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available at www.basf.com.
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