Transdel Pharmaceuticals, Inc. (OTC Bulletin Board: TDLP) ("Transdel") and Jan Marini Skin Research, Inc. ("JMSR") have entered into a licensing agreement providing JMSR with the exclusive U.S. rights to Transdel's transdermal delivery technology for use in an anti-cellulite cosmeceutical product for the dermatological market.
Under the terms of the agreement, JMSR will pay Transdel a licensing royalty on the U.S. and worldwide sales of an anti-cellulite product using Trandel's delivery technology. JMSR obtained an exclusive right to promote and sell a product in the U.S. dermatological market for approximately one-year after which time they have a non-exclusive right. Also, JMSR obtained a non-exclusive right to promote and sell the product in the ex-U.S. dermatological market.
"We are very excited with the establishment of our relationship with JMSR and look forward to building on this relationship in order to potentially launch additional cosmeceutical products," stated John Lomoro, Acting Chief Executive Officer and Chief Financial Officer. "They are a recognized leader in the dermatological market, so we are confident they will fully capitalize on the potential for this anti-cellulite technology."
"We believe that Transdel's anti-cellulite technology has the potential to provide us with an excellent opportunity in the dermatological market not only in the U.S. but also for the international market," stated Jan Marini, JMSR's President and Chief Executive Officer. "We look forward to collaborating with Transdel on this project and potentially other product opportunities."
Transdel Pharmaceuticals, Inc.