Quick-Med Technologies completes the initial phase of its cosmetic product development programme and launches the first product, a 'high performance' ingredient for cosmetic anti-ageing formulations.
The product is the first in a series that Quick-Med Technologies has formulated with life science company the Collaborative group. The next batch of products will focus on other segments within the personal skin care market, reports the company.
"On schedule completion of R&D and this first product launch demonstrate that we're on track in executing our cosmetics business plan. Our cosmetics segment should provide a growing revenue stream starting in 2004," said Michael R. Granito, chairman of Quick-Med Technologies.
The company has been working on broadening its MMP Inhibition portfolio. MMPs, or Matrix Metalloproteinases, are naturally occurring compounds that recent research suggests could play a key role in skin appearance. Compounds that safely inhibit these effects, or MMPIs, can be applied to combat the adverse signs of aging.
Quick-Med Technologies has a family of MMPI-related technologies - MultiStat - consisting of over 10 patented compounds, patented formulae for the creation of new compounds, numerous use or method patents and other intellectual property or trade secrets involving the use of MMP Inhibition techniques in skin treatment.