BOTHELL, Wash.—Helix BioMedix Inc., a developer of bioactive peptides, acquired 30 percent ownership interest in NuGlow Cosmaceuticals LLC. As part of the transaction, the companies have also entered into a three-year supply agreement in which Helix BioMedix will provide NuGlow with finished skin care products, including certain private label cosmeceutical, sun care and acne care products. NuGlow will place its first order by July 31, 2010.
“We are pleased to announce our investment and supply agreement with NuGlow, which creates the opportunity to bring the next generation in advanced skin care technology products to consumers,” stated R. Stephen Beatty, president and CEO of Helix BioMedix. “NuGlow has established a tested, cost-effective and proven direct response model that I believe will increase the value proposition for the commercialization of Helix BioMedix technologies. We currently expect the initial marketing campaign to begin in the fall with NuGlow targeting 28 to 50-year-old women. This campaign complements our Striking™ Skin Care marketing focus by including a younger demographic. We are very pleased with our continued progress as we execute on our strategic growth initiatives.”
“We are very fortunate to be able to partner with Helix BioMedix Inc.,” said Steven Sheiner, CEO of NuGlow. “Their line of peptides and formulations will allow us to expand our offerings significantly. We spent a great deal of time looking for a company we could build a strong direct-to-consumer business,and in every way Helix BioMedix is that company.”