Avicena, RITA ink deal
This article was originally published in The Rose Sheet
Executive Summary
Late-stage biotech firm Avicena has signed an exclusive, worldwide distribution agreement with RITA Corporation, a supplier of specialty chemicals for the personal-care industry. The deal grants RITA global rights to some of Avicena's proprietary dermaceutical compounds, which incorporate the company's "cell-nourishing technology" to protect cells, stimulate cellular regeneration and convey anti-aging benefits. "The industry continues to shift toward ingredients that are backed by proven science and achieve measurable skin benefits. Avicena's products fit well into this growing trend," RITA President Brian Goode states. Avidena announced in June it was seeking a partner to market its cosmeceutical skin care Nurigene, formulated with creatine - a substance often found in bodybuilding supplements - which increases metabolic activity in the skin and strengthens the defenses of skin cells against aging and damage, the company says (1"The Rose Sheet" June 18, 2007, p. 8)...