Products | Cosmeceutical
We have expanded our product pipeline to include cosmeceutical products, including our lead anti-cellulite formulation and our potential development programs of cosmeceutical products which includes hyperpigmentation and anti-aging formulations. We are pursuing discussions with potential sales and marketing partners for these cosmetic/cosmeceutical products.
Anti-Cellulite Formulation
In 2009, we entered into a license agreement with JH Direct, LLC (“JH Direct”) providing JH Direct with the exclusive worldwide rights to our anti-cellulite cosmeceutical product. On September 9, 2010, we reported that JH Direct has completed their initial product testing of Transdel's anti-cellulite formulation in 24 subjects, which consisted of observing the before and after results of applying the product over a 16 week period. The excellent results observed during this test have led JH Direct to initiate plans for a final test in approximately 25 subjects to be conducted by a third-party skin research center. JH Direct is planning a commercial launch of the product for the fourth quarter of 2010 or in early 2011 subject to successful completion of this final test.
Under the terms of its exclusive worldwide licensing agreement, JH Direct will pay Transdel initial royalty advances and a continuing licensing royalty on the worldwide sales of the anti-cellulite product. The product will be initially launched through a direct response television campaign created and managed by JH Direct, followed by a planned expansion into traditional channels of distribution, such as retail and wholesale channels.
In June 2010, we entered into a license agreement with Jan Marini Skin Research, Inc. ("JMSR") providing JMSR with the exclusive U.S. rights to our transdermal delivery technology for use in an anti-cellulite cosmeceutical product for the dermatological market. Under the terms of the agreement, JMSR will pay us a licensing royalty on the U.S. and worldwide sales of an anti-cellulite product using our delivery technology. JMSR obtained an exclusive right to promote and sell a product in the U.S. dermatological market for approximately one year after which time they have a non-exclusive right. Also, JMSR obtained a non-exclusive right to promote and sell the product in the ex-U.S. dermatological market. We anticipate that JMSR will launch the product during the fourth quarter of 2010 or the first quarter of 2011.
Anti-Cellulite Formulation
In 2009, we entered into a license agreement with JH Direct, LLC (“JH Direct”) providing JH Direct with the exclusive worldwide rights to our anti-cellulite cosmeceutical product. On September 9, 2010, we reported that JH Direct has completed their initial product testing of Transdel's anti-cellulite formulation in 24 subjects, which consisted of observing the before and after results of applying the product over a 16 week period. The excellent results observed during this test have led JH Direct to initiate plans for a final test in approximately 25 subjects to be conducted by a third-party skin research center. JH Direct is planning a commercial launch of the product for the fourth quarter of 2010 or in early 2011 subject to successful completion of this final test.
Under the terms of its exclusive worldwide licensing agreement, JH Direct will pay Transdel initial royalty advances and a continuing licensing royalty on the worldwide sales of the anti-cellulite product. The product will be initially launched through a direct response television campaign created and managed by JH Direct, followed by a planned expansion into traditional channels of distribution, such as retail and wholesale channels.
In June 2010, we entered into a license agreement with Jan Marini Skin Research, Inc. ("JMSR") providing JMSR with the exclusive U.S. rights to our transdermal delivery technology for use in an anti-cellulite cosmeceutical product for the dermatological market. Under the terms of the agreement, JMSR will pay us a licensing royalty on the U.S. and worldwide sales of an anti-cellulite product using our delivery technology. JMSR obtained an exclusive right to promote and sell a product in the U.S. dermatological market for approximately one year after which time they have a non-exclusive right. Also, JMSR obtained a non-exclusive right to promote and sell the product in the ex-U.S. dermatological market. We anticipate that JMSR will launch the product during the fourth quarter of 2010 or the first quarter of 2011.
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