Le Métier will use Glycinamide in its premium range of ‘Peau Vierge’ anti-ageing creams that will be commercialised initially across the USA through department stores such as Neiman Marcus, Bergdorf Goodman and Nordstrom. Le Métier is responsible for all future costs including formulation, manufacturing and marketing. Under the terms of the agreement Phylogica will receive a significant royalty on all sales of Le Métier’s cosmetic products that contain Glycinamide. Le Métier is making excellent progress towards a first launch in late 2013/early 2014. The formulation work is ongoing. It has identified a class of cosmetically acceptable solvents for the peptide and are currently combining the Glycinamide formulation with an effective skin penetration enhancer.
This could be worth something!! Page 5 of annual report.
PYC Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
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