BERGEN, Norway—Aqua Bio Technology (ABT), a Norwegian marine biotech firm developing, producing and selling patented marine based ingredients and technologies to the international cosmetic and skin care industry, entered into a sales agreement with an Asian manufacturer of skin care products. As a part of the agreement, ABT will supply its bioactive ingredient Zonase X™ to be the key ingredient in a new product line the manufacturer will launch in January 2011. The new line will consist of five products, developed in collaboration with ABT.
The new skin care line will initially be introduced in the Asian markets through the manufacturer's existing distribution channels. In addition, the manufacturer is also in discussion with distributors in Australia and selected European countries regarding launch in those markets. Due to competitive reasons, the manufacturer has requested that it is not named until the products are launched. The reason is the manufacturer considers Zonase X a novel and highly innovative technology.
"ABT is very satisfied that we have finalized this supply agreement with a highly regarded manufacturer of skin care products," said Thor A. Talseth, executive chairman of ABT. “Since we first signed an NDA in November 2009, we have in close collaboration developed a number of exciting products demonstrating the wide application of Zonase X".