On Track to Meet First Major 2007 Milestone
BOTHELL, Wash., April 23 /PRNewswire-FirstCall/ -- Helix BioMedix, Inc.
(OTC Bulletin Board: HXBM) today announced that it has expanded its
strategy to take a finished peptide-based product to market. Key to this
strategic decision is the signing of two related agreements to provide
technology and services to DermaVentures, LLC, a newly established personal
care company. The joint venture includes the provision of a license to
DermaVentures for one of Helix BioMedix's advanced peptide technologies as
well as a services agreement pursuant to which Helix BioMedix will manage
the day-to-day operations of the company in return for an equity position.
"This is a significant advancement towards the company's milestone to
share in the market value created by the launch of a new peptide-enhanced
personal care product in 2007," commented R. Stephen Beatty, President and
Chief Executive Officer of Helix BioMedix. "We are executing on our plan to
get closer to the point of sale, which should make us more effective and
increase the profit potential from our technology."
Taking charge of this joint venture initiative is Helix BioMedix's
Chief Operating Officer, Lori Bush. "Lori has a great record of success
with other consumer products such as Johnson & Johnson's Neutrogena. Her
leadership in the areas of marketing and product development is a key
reason we asked Lori to join the Helix BioMedix management team and should
prove beneficial as we work together to take this new product to market,"
Beatty added.
DermaVentures' flagship product, P.A.C. Perfect (peptide-powered acne
control), is a new acne treatment system to be marketed initially via
Spanish language direct TV and other Spanish language media outlets. In
addition to benefiting from Helix BioMedix's proprietary peptide
technology, DermaVentures will leverage certain aspects of Helix's
infrastructure, including administrative and supply chain support, for
which it has assigned Helix a significant minority stake in DermaVentures'
business.
DermaVentures is currently administering clinical testing and expects
to complete its consumer and media testing for the P.A.C. Perfect Acne
Treatment System launch in time for a market rollout in late 2007. Dr.
Stephen Schleicher, Director of DermDx Centers for Dermatology and
coordinator of the DermaVentures clinical testing, added, "The initial
response in the Hispanic community has been extremely gratifying. Many
subjects enrolled in the study have experienced improvement faster than
expected."
Beatty concluded, "At Helix, we're delighted to have the opportunity to
be involved with this program in a way that not only creates a new royalty
stream but that should also allow us to more materially share in the upside
value of our technology in the marketplace."
About Helix BioMedix
Helix BioMedix, Inc. is a biopharmaceutical company with a vast library
of diverse bioactive peptides and patents covering six distinct classes and
hundreds of thousands of peptide sequences. The company's mission is to
enrich clinical practice and the patient and consumer experience by
expanding opportunities to tap the health, beauty and safety benefits of
advanced bioactive small molecule technology. Our vision is to be
recognized as the world leader in the identification, qualification and
commercialization of natural and synthetic peptide technology.
The company's core competencies include peptide design, synthesis and
characterization together with assay development, screening, tissue culture
and microbiology. These areas of expertise are leveraged through
relationships with contract research organizations and peptide
manufacturers for the capability to take a program from theoretical concept
to a validated and qualified skin care active with respect to both efficacy
and safety. Applications for Helix BioMedix peptides include anti-aging
cosmeceutical skin care, acne treatment and other topical anti-infective
pharmaceuticals and wound healing. In addition to our primary focus on
peptides for dermatological applications, our peptide library also holds
promise for advancements in other therapeutic and industrial areas such as
oral care, biocides and animal health.
More information about the company and its proprietary peptides may be
found on the company's website at http://www.helixbiomedix.com .
Important Notice
This press release contains forward-looking statements (statements
which are not historical facts) within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
include statements regarding activities, events or developments that the
company expects, believes or anticipates may occur in the future, including
statements related to our potential growth, product development and
commercialization, and revenue and profitability. A number of factors could
cause actual results to differ from those indicated in the forward-looking
statements, including the company's ability to successfully raise
additional capital, enter into revenue generating license agreements,
continue its research and development efforts, including pre-clinical and
clinical studies, and general economic conditions. Additional assumptions,
risks and uncertainties are described in detail in our reports and other
filings with the Securities and Exchange Commission. Such filings are
available on our website or at http://www.sec.gov. Readers are cautioned that such
forward-looking statements are not guarantees of future performance and
that actual results or developments may differ materially from those set
forth in the forward-looking statements. The company undertakes no
obligation to publicly update or revise forward-looking statements to
reflect subsequent events or circumstances.
Contact:
Investor Relations:
Cameron Associates
Alison Ziegler, 212-554-5469
alison@cameronassoc.com
SOURCE Helix BioMedix, Inc.
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Related links:
http://www.helixbiomedix.com/
CONTACT:
investors, Alison Ziegler of Cameron
Associates, +1-212-554-5469, alison@cameronassoc.com
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