Under the terms of the agreement, R+F will be responsible for all development and commercialisation of TPM-based personal care products.
4 December 2017, Melbourne: Australian drug delivery company, Phosphagenics Limited (ASX: POH; OTCQX: PPGNY), is pleased to announce the signing of a non-exclusive license agreement with Rodan + Fields (R+F) for the use of TPM® in proprietary personal care products in USA, Canada, Australia, Japan and South Korea.
Under the terms of the agreement, R+F will be responsible for all development and commercialisation of TPM®-based personal care products. Phosphagenics will receive a one-time $50,000 USD payment, within the next 30 days, for granting R+F non-exclusive access to the TPM® technology. The parties have executed a formal supply agreement enabling Phosphagenics to be the exclusive provider of TPM® derived from either a natural or synthetic Vitamin E source on commercially attractive terms.
Phosphagenics’ Chief Executive Officer, Dr Ross Murdoch, said, “R+F has spent some considerable time assessing TPM®. We are thrilled to have passed the rigorous due diligence of yet another multinational company, and are excited to continue progressing the benefits of TPM® in the personal care space. We see this relationship as having the potential to drive new products and add great value to both companies.”
Phosphagenics will keep the market informed of further progress as appropriate.
Enquiries
Dr Ross Murdoch
Phosphagenics Limited
+61 3 9002 5000
Kyahn Williamson
WE Buchan
+61 3 9866 4722 / +61 401 018 828
About Phosphagenics
Phosphagenics Limited is focused on developing and commercialising innovative Human Health, Animal Health and Personal Care products using its proprietary drug delivery system called TPM® (Tocopheryl Phosphate Mixture). TPM® is derived from Vitamin E using a unique, proprietary and patented process and has been proven to enhance the solubility and oral, dermal and transdermal absorption of drugs and nutrients.
Amongst its major projects, Phosphagenics’ is developing TPM® enhanced patches, gels and injectable products for the human health market and is also developing TPM® to enhance the feed efficiency and health of livestock.
Phosphagenics' shares are listed on the Australian Securities Exchange (POH) and its ADR – Level 1 program in the US is with The Bank of New York Mellon (PPGNY).
About Rodan + Fields
Founded by Dr. Katie Rodan and Dr. Kathy Fields, Rodan + Fields’ dermatology-inspired skincare products and proprietary, technology-driven social enterprise platform are changing the way people engage in the skincare category, shop for products and care for their skin. In 2007, the Company made the unprecedented move out of department stores and into the world of community commerce in order to realize the doctors' vision for providing the closest cosmetic alternative to a professional skincare experience outside of a medical office and, in the process, empowering entrepreneurial opportunity. Products are available through Rodan + Fields Independent Consultants and at www.rodanandfields.com.
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