Alliqua, Inc. (Formerly known as HepaLife Technologies Inc.) to Explore Business Development Efforts for Hydrogel Transdermal Delivery Platform in the Cosmeceutical Industry
Published: Nov 19, 2012
NEW YORK, Nov. 19, 2012 /PRNewswire/ -- Alliqua, Inc. (OTCQB:ALQA) ("Alliqua" or the "Company"), a biopharmaceutical company focused on the development, manufacturing and distribution of proprietary transdermal wound care and drug delivery technologies, today announced the Company's exploration of business development efforts for its proprietary transdermal delivery platform in the cosmeceutical industry.
According to market research data from the Freedonia Group, the cosmeceutical market reached $6.4 billion in 2010 and is projected to grow to $8.5 billion by 2015, largely fueled by consumers searching to stave off the physical signs of aging. While this market has traditionally been focused on consumers aged 45 and older, recent trends show younger consumers are seeking out anti-aging products designed to prevent or treat even early signs of aging including fine lines and wrinkles. Alliqua believes its transdermal platform is ideal for administering the key ingredients of these anti-aging products more effectively to targeted areas of the body. In doing so, the Alliqua technology has the potential to greatly enhance the performance of a variety of cosmeceutical products across a broad spectrum of areas. Additionally, the time to market for cosmeceutical products is typically much shorter than for traditional drug delivery making it a very attractive business opportunity for Alliqua.
James Sapirstein, CEO of Alliqua stated, "The cosmeceutical industry represents a vast market opportunity for our proprietary transdermal platform. What is equally as exciting for Alliqua is that with our hydrogel technology, we can reach the market in a relatively short time frame when compared to traditional drug delivery platforms. We intend to aggressively pursue partnerships with various manufacturers to help them increase the effectiveness of their products and achieve more optimal results for the consumer. By doing this we have the potential to build a highly profitable business segment for Alliqua in the cosmeceutical marketplace."
About Alliqua, Inc.
Alliqua, Inc. (ALQA) ("Alliqua") is a biopharmaceutical company focused on the development, manufacturing and distribution of our proprietary transdermal wound care and drug delivery technologies. Alliqua's leading technology platform produces hydrogels, a 3-dimensional cross-linked network of water soluble polymers capable of numerous chemical configurations.
Alliqua currently markets its new line of 510K FDA approved hydrogel products for wound care under the SilverSeal® brand. The Company's electron beam production process located at its 16,000 square foot GMP manufacturing facility in Langhorne, PA, allows Alliqua to aggressively develop and custom manufacture a wide variety of hydrogels. Alliqua's hydrogels can be customized for various transdermal applications to address market opportunities in the treatment of wounds as well as the delivery of numerous drugs or other agents for the pharmaceutical and cosmetic industries. Additionally, the Company's drug delivery platform, in combination with certain drugs, provides pharmaceutical companies with potential greater patient compliance and could potentially extend the life of valuable drug patents.
Any statements contained in this press release regarding our ongoing research and development and the results attained by us to-date have not been evaluated by the Food and Drug Administration.
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SOURCE Alliqua, Inc.