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ProCyte Contributes Its TiSilc Sun Protection
Product At The Entertaining Liza Benefit
REDMOND, Wash., June 14 /PRNewswire/ -- ProCyte Corporation (OTC Bulletin Board: PRCY - news), a leading skin
care and tissue repair company, announced today that its TiSilc(TM) Advanced Sun Protection product was presented as a
key note gift to attendees of Liza Minnelli's ''Entertaining Liza'' benefit for Recording Artists, Actors, and Athletes Against
Drunk Driving held on June 7, 1999.
The product's unique safety coated, micronized titanium, silicon and vitamin rich formula is a favorite of dermatologists and
plastic surgeons for use with their patients. Offering both UVA and UVB protection, TiSilc(TM) helps prevent sun damage,
which is associated with premature aging and skin cancer. The popular product is in an elegant, tinted lotion base, and is easily
applied.
In this era of consumer demand for sun protection products, more than 90% of dermatologists recommend sunscreens for their
patients. The importance of daily UVA/UVB protection has become a critical healthcare issue. A recent report by the National
Cancer Institute noted that generally overall cancer rates were dropping, except in the area of skin cancer.
''Sun protection products are a huge market for men, women and children,'' said ProCyte President and CEO, Jack Clifford.
''TiSilc is recommended by leading dermatologists and plastic surgeon's due to its reputation as a superior sunscreen and the
company's reputation for innovative technologies.''
''Sun protection is a must for our clients,'' said Lana Stone, Director of Solutions Skin Care in Beverly Hills. ''Our customers
love TiSilc's elegant formulation, so we know that they will use the product on a daily basis.''
About ProCyte:
In addition to TiSilc(TM), ProCyte's product portfolio includes comprehensive skin care lines for therapeutic care, pigmentation
concerns, anti-aging product and products for thinning hair. ProCyte Corporation is a healthcare products company that
develops, manufactures and markets products for tissue repair, skin health and hair care. The Company's products incorporate
its patented copper peptide technology and are marketed both directly and through distribution partners.
This report may contain forward-looking statements. The Company's results may vary significantly from quarter to quarter and
will depend among other factors on product launches and market acceptance, manufacturing contracts, and distribution
agreements.
Contact: Jack Clifford, President/CEO of ProCyte Corporation, 425-869-1239; or Michael S. Manahan, Principal of
Magnum Financial Group, LLC, 213-488-0443, for ProCyte Corporation.
SOURCE: ProCyte Corporation
Turnaround Well Underway at ProCyte; New
Member Added to the Board
REDMOND, Wash., June 4 /PRNewswire/ -- ProCyte Corporation (OTC Bulletin Board: PRCY - news), a leading
healthcare products company that develops, manufactures and markets products for tissue repair, skin health and hair care,
announced today that it held its annual meeting of shareholders on Wednesday, May 26, 1999 at the Doubletree Hotel in
Bellevue, Washington.
At the meeting, all six nominees for the board of directors of the Company were elected. Two prior board members, Mr.
William Sullivan and Mr. Thomas Tierny, retired from the board, and concurrently the number of board members was reduced
from seven to six.
Mr. Glenn Oclassen was elected to the board for the first time this year. Mr. Oclassen founded Oclassen Pharmaceuticals, Inc.
in 1985, served as president and CEO through to 1991, and served as chairman of the board through to 1997 when the
company was sold to Watson Pharmaceuticals. Previously, in 1977, Mr. Oclassen founded the Neutrogena Dermatologics
division of Neutrogena Corp. and served as president of that division until 1982. Mr. Oclassen also worked for Allergan
Pharmaceuticals for six years, and founded NextDerm, Inc., a company focused on the development and marketing of topical
therapeutics for cosmetic skin defects, which ProCyte will acquire in June, 1999.
Mr. Jack Clifford, President and Chief Executive Officer of ProCyte, said, ''Having someone with Glenn Oclassen's stature
and reputation in the dermatology industry on our board is a welcome asset. He is recognized as a leader in the field, and I
anticipate that his contributions to our business strategy and product line will be significant. Further, Glenn has business
relationships throughout our industry and our customer base that should facilitate penetration of the market.''
During the meeting Mr. Clifford, reviewed the Company's operations and financial performance during the year ended
December 31, 1998, and outlined plans for fiscal 1999. In his presentation, Mr. Clifford noted that revenues from product
sales in 1998 increased to over $2.2 million from $184,000 in 1997, and the Company expects revenues to double in 1999 as
compared to 1998. Mr. Clifford credited the significant increase in sales to the market-focused strategy he developed and
began implementing in 1997. That strategy included redesigning packaging for a new, consumer oriented look, expansion of the
product line from 37 to approximately 200 SKUs, two strategic acquisitions, and an expansion of the Company's sales force to
14 people. As a result of this strategy, the Company has achieved average compounded sales growth over the last five quarters
of 52%. Further, Mr. Clifford noted that since he joined the Company he has made tremendous strides in reducing costs, and
as a result, anticipates break-even performance in the first quarter of 2000.
Mr. Clifford stated, ''ProCyte is a turnaround situation. When I arrived in mid-1996 I inherited from the previous management
a superior scientific research facility, an army of researchers, and an intriguing technology -- copper peptides. Unfortunately, we
had virtually no sales and marketing, no products, and we were burning through cash at an alarming rate.''
''With the assistance of a few key dedicated staff members we took on the challenge of moving ProCyte from an R&D
company to a product/market driven company, and I am pleased to report our very positive success. In only a few short years,
we have developed a comprehensive product line directed into three very substantial markets -- hair restoration, anti-aging, and
wound care, we have designed and implemented sales and marketing strategies, and we have achieved significant increases in
sales. But the turnaround story has only just begun -- our near term objectives are to solidify our brand identity, drive sales, and
generate profits. Long term, I believe we are positioning ProCyte to be a significant player in the cosmeceutical landscape,
which is a $5 billion industry.''
About ProCyte:
ProCyte Corporation is a healthcare products company that develops, manufactures and markets products for tissue repair,
skin health and hair care. The Company's products incorporate its patented copper peptide technology and are marketed both
directly and through distribution partners. Two of the Company's more significant product lines are riding the tide of the aging
baby boomers. One product line is designed for sale into the hair restoration market, and the other product line targets the
anti-aging market.
This report may contain forward-looking statements. The Company's results may vary significantly from quarter to quarter and
will depend, among other factors, on product launches and market acceptance, manufacturing contracts, and distribution
agreements.
CONTACT: Jack Clifford, President/CEO of ProCyte Corporation, 425-869-1239, www.procyte.com; or Michael S.
Manahan, Principal of Magnum Financial Group, LLC, 213-488-0443, www.magnumfinancial.com
ProCyte in National Anti-Aging Awareness Tour
Thinning Hair a Concern for 60 Million Women and Men
REDMOND, Wash., April 23 /PRNewswire/ -- ProCyte Corporation (OTC Bulletin Board: PRCY - news) today announced
its participation in a multi-city media tour, Beauty Beyond 40, featuring well-known model Diane DeWitt. In the tour, Ms.
DeWitt discusses how aging affects both skin and hair and reviews several breakthrough anti-aging products including the new
Tricomin® technology. Tricomin® Advanced Care for Thinning Hair products have been specially formulated to deliver the
essential micronutrient copper to the hair follicle creating a healthy scalp environment. ProCyte has developed and patented the
triamino copper complex used in Tricomin® in conjunction with hair specialists who also worked on the development of
Propecia® and Rogaine®.
The initial programs have been aired on the Crook and Chase Country Talk show where Diane DeWitt discussed Tricomin®
Follicle Solution and shampoo products along with other anti-aging products for skin care. Additional programs will be airing
on the daytime news and talk shows in the major markets on NBC, FOX, and CBS. This media tour marks the expansion of
the Tricomin® promotion, and supporting the tour is an expanded advertising campaign beginning with the May issue of Esquire
magazine.
Tricomin® Advanced Care for Thinning Hair has been receiving positive comments from physicians and hair specialists for its
ability to maintain an optimal scalp environment and reduce hair loss.
Anti-aging products are of high interest to the baby boomer population and thinning hair affects over 60 million Americans.
Both men and women can safely use Tricomin®. The company has received numerous enthusiastic user comments which can
be viewed on the new www.Tricomin.com web site. This web site now contains an e-commerce location where Tricomin®
hair care products can be purchased directly from the company.
ProCyte Corporation is a healthcare company that develops, manufactures and markets products for tissue repair, skin health
and hair care. The Company's products incorporate its patented copper peptide technology and are marketed both directly and
through distribution partners. ProCyte stock quotes may be found on Internet Web sites such as Yahoo.com
(PR Wires) DJ: ProCyte Announces 1st Quarter Results
DJ: ProCyte Announces 1st Quarter Results
Product Revenues Increase 300%
REDMOND, Wash., April 15 /PRNewswire/ -- ProCyte Corporation (OTC Bulletin
Board: PRCY) today reported revenue of $1,137,000 for the quarter ended
March 31, 1999 versus $263,000 for the same period in 1998. Product sales
for the first quarter of 1999 were $950,000 compared to $236,000 for the
first quarter of 1998, an increase in excess of 300%. When compared to
fourth quarter 1998 product sales of $692,000, the increase for the first
quarter is 37%.
For the 3-month period just ended, ProCyte had a net loss of $958,000 or 7
cents a share as compared to a loss of $1,049,000 or 8 cents a share for the
first quarter of 1998.
Product sales continue to increase in all categories of skin and hair care.
During the first quarter, ProCyte introduced its newly redesigned packaging,
including a new icon and tagline -- "Healing the Wounds of Time(TM)," and
attended several leading medical conventions, receiving an enthusiastic
response. The sales force was expanded with the addition of four part-time
contract sales representatives. Several major teaching institutions such as
Harvard Medical Center in Boston and Truman Medical Center in Kansas City,
have begun using the ProCyte therapeutic skin care products.
Sales of Tricomin(R) continue to grow in the medical markets as ProCyte
seeks to expand into the consumer segment via its Neutrogena agreement or
direct through the Internet. The newly designed www.Tricomin.com web site
is now capable of handling E-commerce transactions and is linked to numerous
other sites.
At March 31, 1999, ProCyte had $6,373,000 in cash and short-term investments
versus the year-end position of $6,939,000.
"We continue to make good strides in growing our revenues while controlling
expenses," said Jack Clifford, President and CEO. "We will launch several
exciting anti-aging products in May including a collagen-elastin repairing
moisturizer which will further expand our product offering containing copper
peptide technology."
ProCyte Corporation is a healthcare company that develops, manufactures and
markets products for tissue repair, skin health and hair care. The
Company's products incorporate its patented copper peptide technology and
are marketed both directly and through distribution partners.
This report may contain forward-looking statements. The Company's results
may vary significantly from quarter to quarter and will depend among other
factors on product launches and market acceptance, manufacturing contracts,
and distribution agreements.
PROCYTE CORPORATION
First Quarter 1999
Selected Financial Data
Statements of Operations Data: Three months ended March 31,
1999 1998
REVENUES
Product sales $949,581 $236,460
Contract manufacturing 104,320 26,363
Licenses, royalties and other 83,397 --
Total operating revenue 1,137,298 262,823
Cost of product sales 358,121 127,543
779,177 135,280
OPERATING EXPENSES
Selling, general & administrative 1,340,610 817,859
Research & development 479,684 542,281
Total costs and expenses 1,820,294 1,360,140
OPERATING LOSS (1,041,117) (1,224,860)
INTEREST INCOME 82,978 176,253
NET LOSS $(958,139) $(1,048,607)
Net Loss per common share $(0.07) $(0.08)
Weighted average number of common shares
used in computing net loss per
common share 14,522,198 13,364,958
Balance Sheet Data: March 31, December 31,
1999 1998
Cash and short-term investments $6,372,795 $6,938,981
Accounts receivable, net 655,667 692,196
Inventories, net 2,049,409 1,982,890
Property and equipment, net 5,027,089 5,163,967
Intangibles, net 3,102,599 3,159,101
Other assets 364,911 365,243
Total Assets $17,572,470 $18,302,378
Total Liabilities $836,059 $622,828
Stockholders' equity 16,736,411 17,679,550
Total Liabilities and
Stockholders' Equity $17,572,470 $18,302,378
/CONTACT: Jack Clifford, President/CEO of ProCyte Corporation,
425-869-1239/
08:31 EDT
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