Oxygen Biotherapeutics Announces License, Supply Deal for Dermacyte Products with Valor Cosmetics Unit
Oxygen Biotherapeutics, Inc. (“OBI”) (NASDAQ: OXBT), announced today that it has entered into a License and Supply Agreement with the Cosmetics Division of Valor SA of Lausanne, Switzerland, for Dermacyte, a perfluorocarbon based cosmetic product currently manufactured and distributed by Oxygen Biotherapeutics. Per the agreement, Valor was granted the exclusive right to sell, import, export, distribute, package, label and otherwise commercialize Dermacyte. Valor also is authorized to sublicense the license granted under this agreement provided that such sublicenses are consistent with the terms of the original licensing agreement.
Per the terms of the agreement, Valor must pay OBI an annual, non-refundable license fee as well as a royalty on all sales of Dermacyte when a specific agreed upon sales goal is achieved.
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