SkinMedica, Inc. and New York University announced today that they have entered into a global license agreement to develop novel products to address skin hyperpigmentation based on technology invented at NYU.
"Our scientific discovery involves natural products that act by an entirely novel mechanism to modulate skin pigmentation," said Seth J. Orlow, M.D., Ph.D., Chair of the Ronald O. Perelman Department of Dermatology at NYU, and Director of the Program in Cutaneous Biology and NYU Langone Medical Center's Center of Excellence in Cancers of the Skin. "The treatment of hyperpigmentation remains a major unmet need, and we are especially pleased to partner with SkinMedica to advance new products to address this problem."
Under the terms of the agreement, SkinMedica has licensed exclusive rights to develop and market products based on the NYU technology, with a range of applications in the modulation of skin pigmentation.
"Dr. Orlow has a long history of innovation and invention in dermatology and skin biology, and we are proud to partner with him and NYU to deliver novel products for pigmentation," said Mary Fisher, SkinMedica President and CEO. "Hyperpigmentation is a very common problem worldwide, with limited treatment options. We look forward to advancing this program, which has enormous global market potential."