MIAMI BEACH, Fla.—Biotechnology company Divine Skin Inc., developer of personal care products, posted revenue of $2.1 million for the third quarter, up 35 percent from 2010. The rapidly expanding company reported nine-month revenue of $6.6 million, up 74 percent from last year.
"We are on track for another record-breaking year," said Divine Skin CEO Daniel Khesin. "These days, there are so many opportunities to commercialize new scientific discoveries, and we are taking full advantage. We couldn't be in a better position right now."
The positive results came after a busy quarter of big announcements.
In July: Divine Skin expanded into the lucrative market for supplements by partnering with NutraOrigin, developer of 63 blends of nutritional formulas; and the company launched a global partnership with India's huge Ranbaxy Laboratories to sell its DS Laboratories line of hair-growth treatments worldwide.
In August: Divine Skin debuted a new molecule, Nanoxidil, designed to stimulate follicles at the vertex of the scalp, eventually to surpass minoxidil for efficacy and tolerability; and it entered into new distribution agreements for South Korea, Canada, Australia, Taiwan, South Africa, Belgium and Finland.
In September: Divine Skin launched the market's first topical treatment to incorporate astressin-B, a complex peptide newly discovered to regrow hair on bald mice. The company also became the first to synthesize the peptide for human use in a cosmetic product, marketed as Spectral.F7 under the DS Laboratories brand.