VANCOUVER, BC–(Marketwired – May 12, 2017) – Pacgen Life Science Corporation (“Pacgen” or the “Company”) (TSX VENTURE: PBS) announced today that it has entered agreements with DermaMed Pharmaceutical Inc. (“DermaMed”) and Deserving Health International Corp. (“Deserving Health”), granting Pacgen exclusive global marketing, sales, and distribution rights to their innovative personal care products. The agreements provide Pacgen with access to over 50 natural therapeutic and personal care products under the brand names of DermaMed™, DermaSoleil™ and Deserving Health™, as well as DermaMed’s current distribution network and warehousing facilities.
Since its establishment in 1997, DermaMed has been widely recognized as one of Canada’s leading manufacturers of natural therapeutic products. Using innovative phyto-technology and proprietary botanical extraction technology, DermaMed has developed a diverse selection of quality natural personal care products including therapeutic balms, sun protection, cosmetics, and private label formulations. Building on DermaMed’s 20-year innovative knowhow, an affiliated company, Deserving Health, was established to focus on developing premium quality natural personal care products, using the finest organic ingredients.
Global demand for natural and organic consumer healthcare products is growing rapidly and its market potential is expected to exceed US$20 billion by 2025 at an compound annual growth rate (CAGR) of over 9%, according to multiple sources. These new commercial rights allow Pacgen to expand its personal care product portfolio, which currently includes oral health and feminine hygiene products containing P113, an antimicrobial peptide derived from a naturally occurring histatin protein. These P113+™ products are currently marketed under the brand name of “Oh-Care” in Taiwan and Southern China. Pacgen intends on leveraging its existing distribution networks in these and other Asian regions to expand the DermaMed™, DermaSoleil™ and Deserving Health™ markets.
“Pacgen is focused on building a collaborative platform where a group of synergetic small and medium-sized enterprises (“SMEs”) can share common business capabilities, create critical mass, and centralize distribution to reach global markets,” said Christina Yip, President and Chief Financial Officer of Pacgen. “These deals align with Pacgen’s vision of capitalizing on the value of innovations available in the Canadian life sciences industry, while helping thriving SMEs such as DermaMed and Deserving Health reaching new markets,” added Ms. Yip.
Mr. Bernard Armani, founder of DermaMed and Deserving Health, indicated that “the growth potential in the personal healthcare market is attractive given the current emerging trends in preventive health and wellness.” “In addition, the convergence of interests of traditional pharmaceutical companies and non-traditional science-based consumer health companies has the potential to contribute to further growth in the personal healthcare sector,” added Mr. Armani.
Pacgen is a life sciences company focused on building a global commercial platform to market innovative consumer health products developed by SMEs in North America. Currently, the Company has marketing rights to four distinctive brands with over seventy different products in two reportable market segments, including oral care and skin care. These products marketed under the tradenames of P113+™, DermaMed™, DermaSoleil™ and Deserving Health™ have reached markets in Asia and North America.
For additional information, please visit www.pacgenlife.com.
About DermaMed and Deserving Health
DermaMed is one of Canada’s leading manufacturers of natural therapeutic products. DermaMed manufactures and develops high quality natural personal care products including therapeutic balms, sun protection, cosmetics, and private label formulations using innovative phyto-technology and proprietary botanical extraction technology. Deserving Health, an affiliated company of DermaMed, develops premium quality natural personal care products using the finest organic ingredients. Both DermaMed and Deserving Health are founded by Mr. Bernard Armani, who has a botanical extraction engineering background and practices modern European alchemy. Mr. Armani has close to 30 years of product development experience in the life sciences industries in Germany, Switzerland, and North America.
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Forward looking Statements
Certain statements included in this press release may be considered forward-looking. Statements relating to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments constitute forward-looking statements. All forward-looking statements are based on Pacgen’s current beliefs and expectations as well as assumptions relating to the successful completion of its product development, the time and process required to obtain regulatory approval for commercialization of its product, the ability of Pacgen to raise additional capital in future on favourable terms, the impact of competitive products and pricing in the market, acquisition of new products, and the successful and timely completion of corporate collaborations or licensing arrangements for its programs. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. Such factors include, among others, our stage of development, lack of product revenues, additional capital requirements, risk associated with completion of product development and obtaining regulatory approval, going concern assumption, dependence on collaborative and license partners, our ability to protect our intellectual property, our ability to stay competitive in a rapidly changing industry environment, and our ability to raise new capital.
Wherever possible, words such as “anticipate”, “believe”, “expect”, “may”, “could”, “will”, “potential”, “intend”, “estimate”, “should”, “plan”, “predict”, “project” or the negative or other variations of such expressions reflect Pacgen’s current beliefs and assumptions and are based on the information currently available to Pacgen. Certain risks and uncertainties, including those risk factors identified by Pacgen in its annual management’s discussion and analysis dated July 29, 2016, may cause our actual results, level of activity, performance or achievements to differ materially from those implied by forward looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. Pacgen disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For all forward-looking statements, Pacgen claims the safe harbour for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
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President and Chief Financial Officer