Senetek Announces Kinetin Agreement for Taiwan and Hong Kong
Wednesday March 12, 8:06 am ET
- The People's Republic of China, Thailand, Singapore, Malaysia and Vietnam Under Review -
NAPA, Calif., March 12 /PRNewswire-FirstCall/ -- Senetek PLC (Nasdaq: SNTK - News), ( www.senetekplc.com ), a healthcare technologies company focused on developing and co-marketing products applicable to the anti-aging markets in key skin care/dermatologicals and sexual dysfunction categories worldwide, today announced the signing of a license agreement with Panion & BF Biotech Inc., Taipei, a major manufacturer and marketer of pharmaceuticals and cosmeceuticals based in the Republic of China on Taiwan.
Under the agreement, Panion will launch a line of Kinetin-based skin care products in the ethical (physician) channel of distribution in Taiwan and Hong Kong. The launch is targeted for the second half of 2003. In addition, the two companies will work together to develop additional proprietary Kinetin-based products.
Panion was founded in 1978 and is one of the leading dermatological distribution organizations in Taiwan, with fast-growing capabilities in other key markets to include The People's Republic of China, Thailand, Singapore, Malaysia and Vietnam. Senetek is currently in process of evaluating these capabilities.
Frank J. Massino, Chairman and Chief Executive Officer of Senetek, commented, "Taiwan is a key gateway to Mainland China, which represents one of the largest skincare markets worldwide. Panion will prove to be an invaluable partner in opening up the entire Asian region. During the past two years, the two companies have worked together to identify patent infringers in the region, in which Senetek is taking an aggressive stance."
Senetek's patented ingredient, Kinetin, is a naturally occurring cytokinin that has proven to be highly effective in treated aging skin virtually without any side effects that are seen with other competing products. Senetek's other licensees to include ICN Pharmaceuticals, Revlon Inc. and The Body Shop have successfully introduced Kinetin in their respective channels of distribution and territories.
Visit Senetek PLC's web site: senetekplc.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 Company's financial stability, its expectations of continued growth and profitability and its intent to expand its overseas business. Forward-looking statements by their nature involve substantial uncertainty and there can be no assurance that actual results or events will not 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 Reports of Form 10-Q for the subsequent calendar quarters of 2002, filed with the Securities and Exchange Commission. In addition, while the Company has attempted to identify in those filings the principal factors that it believes could result in such material differences, there can be no assurance that it has identified all of such factors or all of the ways in which such factors may affect future results or events.
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Source: Senetek PLC |
