Senetek PLC Signs Kinetin Worldwide Licensing Agreement With Shaklee Corporation for Use in Direct Selling Channel of Distribution
Wednesday November 13, 8:06 am ET
NAPA, Calif., Nov. 13 /PRNewswire-FirstCall/ -- Senetek PLC (Nasdaq: SNTK - News), ( www.senetekplc.com ), a biopharmaceutical company focused on developing and co-marketing products in the key skincare/dermatologicals and sexual dysfunction categories globally, announced today that they have entered into a worldwide non-exclusive licensing agreement for Kinetin with Shaklee Corporation, a wholly-owned subsidiary of Yamanouchi Pharmaceutical Co., Ltd, Japan's third largest pharmaceutical company with sales exceeding $4 billion.
The agreement calls for the Shaklee Corporation to incorporate Kinetin in its existing skin care line and add new formulations for the direct selling distribution channel as well as catalogue sales and the Internet. The launch is targeted for mid-year 2003. The companies anticipate formulating a joint development arrangement in the near future, geared towards investigating new technologies.
Jim Greene, Vice President, Research & Development, Shaklee Corporation, stated, "We are delighted to add Kinetin to our portfolio, a compound that has been clinically proven to be highly effective in restoring the beauty of skin that has been photodamaged. We have been working closely with Senetek over the past two years on evaluating the advantages that Kinetin offers over the competition."
Frank J. Massino, Senetek's Chairman and CEO, reported, "This is another successful step forward in the execution of our business plan to expand Kinetin's availability to additional channels of distribution. Senetek is most pleased to be aligning itself with Shaklee, a leader in the direct selling arena."
Shaklee is a diversified consumer products company which sells nutritional, personal care and household products under the Shaklee name, and with direct mail products sold through its sister company Bear Creek Corp., which includes Harry & David gourmet fruits and food and Jackson & Perkins roses.
Senetek PLC is a biopharmaceutical company focused on developing and co-marketing products in key skin care/dermatologicals and sexual dysfunction categories worldwide. Its patented Kinetin ingredient is currently licensed to some nine other companies with leading positions in their fields including Revlon, The Body Shop and ICN Pharmaceuticals.
Visit Senetek PLC's web site: senetekplc.com .
Senetek PLC Investor Relations Contact:
1-707-226-3900 ext. 102
E-Mail: Pknopick@eandecommunications.com
Safe Harbor Statement:
This news release may contain statements that may be considered "forward-looking statements" under the Federal securities laws, including statements concerning the revenue and licensing income the Company may receive in the future under licenses of the Company's products, and the additional licensing agreements the Company may enter into during 2002. No forward-looking statement the Company makes is a guarantee of future performance or events. Actual results or events may differ materially from those in the forward-looking statements as a result of various factors, including the risks and uncertainties described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001 and Quarterly Report on Form 10-Q for the three months ended June 30, 2002, filed with the Securities and Exchange Commission.
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Source: Senetek PLC |
