Biochemics and Pacific Pharmaceutical to collaborate on skin products

BioChemics, Inc. (BCI) has announced the signing of a research collaboration agreement with Pacific Pharmaceutical Co., Ltd, a publicly held Company in South Korea to evaluate the use of BCI's VALE® based compositions in cosmetic applications.

Pacific Pharma is a fully integrated company with R&D, manufacturing, marketing and sales capabilities. BioChemics is a specialty pharmaceutical company that has developed a novel, transdermal drug delivery system called VALE® (Vaso-active Lipid Encapsulated), that allows a wide variety of actives to be delivered into the skin.

"BCI is extremely excited about this collaboration with Pacific Pharma because we see the broader applications of our VALE® based technology for cosmetic procedures" said John J. Masiz, Esq., President & CEO of BioChemics. "Amore Pacific, the parent company to Pacific Pharma is one of the leading companies in cosmetics and healthcare industry in South Korea and we are delighted to be working with the Pacific Pharma team on this program.”

Aesthetic Market Opportunity

Medical Insight, Inc., an independent aesthetic treatment market research firm, has estimated the number of procedures for all aesthetic treatments worldwide to increase by 5.6% per year from 81 million in 2008 to 101 million in 2012. The global aesthetic market was worth approximately $5 billion in 2008 and is expected to increase by 11.7% per year to $8.2 billion in 2012. In neighboring China, the sales from cosmetic laser procedures have increased by 25% per year.