Aug 29 2007
Avicena Group, Inc., a late-stage biotechnology company that develops central nervous system therapeutics for neurodegenerative diseases as well as dermaceutical products announced today that it has signed an exclusive worldwide distribution agreement with RITA Corporation, a leading supplier of specialty chemicals to the personal care industry.
The agreement covers global rights to certain Avicena compounds for use in the personal care industry. Avicena's proprietary dermaceutical compounds incorporate the company's patented cell-nourishing technology which promotes optimal cellular regeneration and cellular protection, as well as anti-aging skin benefits.
"RITA is highly regarded as a leading, global supplier of specialty chemicals to the cosmetic and personal care industries", said Belinda Tsao-Nivaggioli, Ph.D., CEO of Avicena. "This makes RITA an ideal partner to distribute our proprietary dermaceutical ingredients and to significantly expand our existing dermaceutical business."
"We are excited to have the opportunity to distribute Avicena's scientifically based skin care ingredients", said Brian Goode, President of RITA. "The industry continues to shift toward ingredients that are backed by proven science and achieve measurable skin benefits. Avicena's products fit well into this growing trend."