Pressure BioSciences announces a letter of intent to acquire SkinScience Labs, the holding company for Dr. Denese Skin Care & Anti-Aging Lines.
WHO: SkinScience Labs, Inc. is the holding company for Dr. Denese Skin Care & Anti-Aging skincare ranges. Dr. Adrienne Denese, MD, PhD (Cornell, Harvard), is an industry leader in scientific skincare breakthrough technologies. Over the past 17 years, her skincare and anti-aging product lines have been top sellers on QVC.
Pressure Biosciences was founded in 1978 by Harvard-trained serial entrepreneur Richard Schumacher. PBI specializes in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to worldwide biotechnology, biotherapeutics, cosmeceuticals, nutraceuticals, and food & beverage industries.
Cannaworx is a diverse portfolio of products and intellectual property developed by its founders Bobby Ghalili, DMD, and Adrienne Denese, MD, PhD. Cannaworx and its principals have 12 products, including several novel products that utilize the company’s patented / patent pending, full and partial spectrum, hemp-derived phytocannabinoid formulations for pain relief. Cannaworx plans to launch many of these products in 2020, two of which with a pain indication allowed under an FDA OTC monograph, which the company believes will make them the only oral hemp-derived phytocannabinoid-containing products available in today’s market with such a claim.
WHY: According to PBI, the Dr. Denese SkinScience product lines will leverage PBI’s Ultra Shear Technology (UST) for preparing nanoemulsions, to propel its product lines through new frontiers in product quality and effectiveness, for both existing cosmetics formulations and the introduction of new nutritional and therapeutic components that clearly reposition them into the rapidly emerging cosmeceuticals applications arena.
IN THEIR OWN WORDS: Richard T. Schumacher, President and CEO of PBI, said: “The Dr. Denese SkinScience brand has reached top performing status on QVC for a skin care line, selling over 25 million units and receiving multiple QVC customer choice beauty awards. Adrienne’s tremendous brand recognition, regularly repeating customer base, and major existing sales momentum brings immediate accretive impact into the PBI portfolio—and we know that our UST nanoemulsions will create powerful new leverage and opportunities for her expanding product lines. Our team has worked very hard to bring this pivotal transition together for PBI and its shareholders, and we are very excited about the prospects for growth and value appreciation in our combined companies going forward.”
Dr. Bobby (Babak) Ghalili partnered with Dr. Denese to create Cannaworx, Inc., bringing their combined medical and product design innovation backgrounds together to build a wide portfolio of products for Cannaworx in the cosmeceuticals industry. Dr. Ghalili added: “We are very proud to have a luminary like Dr. Denese bringing her vision and dedication to breakthrough innovations and quality in skin care and anti-aging products, and her large and loyal following of dedicated customers into our new, combined company.”
Adrienne Denese, MD, Ph.D., characterized the compelling case for combining the three companies: “Our strong long-term repeating sales across a wide range of skin care & anti-aging products has been achieved with a passion for optimizing the consumer’s experience and outcomes with our products. The potential for PBI’s UST platform to deliver ultra-low nanoemulsions that yield higher and more consistent bioavailability of nutrients and therapies, while minimizing the need for added stabilizers and improving safety, created an undeniably convincing case for applying it to our products. In addition, we believe PBI’s UST process will drive the nanoemulsion droplet sizes so small they not only will deliver new levels of silkiness, absorbability, and appeal, but should also turn previously cloudy mixtures into high-quality transparent products.”
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