Phosphagenics Decides to Put its BioElixia®
Cosmetics Brand Up for Sale
• Decision to focus resources on delivering corebusiness opportunities
25 February 2015, Melbourne: Australian drug delivery company, Phosphagenics Limited
(ASX: POH; OTCQXPGNY), has put its branded cosmetics division, BioElixia®, up for
sale to allow resources to be focused on the Company’s core areas of strength.
Phosphagenics has recently received a number of expressions ofinterest in purchasingits
range of skincare products sold under the BioElixia® brand. The BioElixia® brand and
product range,which are formulated with the Company’s proprietary TPM® technology,
has been growingover the last few years and has the capacity to provide potential
purchasers with an opportunity to acquire a brand with an establisheddistribution network
and product differentiation based on the TPM® technology.
“Whilst we have demonstrated that the addition of TPM® has real potential across a large
number of areas, it is essential for a relatively small company like Phosphagenics to
recognise where it can maximise value for shareholders, and apply its precious resources
in those areas,” commented Dr Ross Murdoch, CEO. “This decision reflects our
commitment to focus on the areas where we believe we can add most value and find
experts to maximise shareholder valuefor the others.”
Chairman, Lawrence Gozlan, added “The brand has agrowing followingand growing
distribution network. It has unique and proprietary differentiation through its TPM®
technology, and the potential upside of the association with our other TPM® based clinical
assets. We are now focused on seeking to ensure that the ultimate sales arrangement
recognises the unique value of the brand and provides the opportunity for shareholder
upside.”
If commercially attractive terms are reached with a purchaser, thesale will likely be limited
to Phosphagenics’ own brand ofBioElixia®products. The Company’s ongoing strategy for
consumer skincareis to retain the rights to license TPM®to global or regional companies
for use in cosmetics products. The arrangement with GNC has been terminated and the
arrangement with Korean Drug Company will likely be changed, as Phosphagenics no
longer intends to retain the resources necessary to manufacture cosmetics products for
third parties. Licensing arrangements with Le Metiér de Beauté remain unchanged.
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