Navigation Links
Avicena Signs Worldwide Exclusive Distribution Agreement with RITA Corporation for its Proprietary Dermaceutical Compounds
Date:8/28/2007

PALO ALTO, Calif., Aug. 28 /PRNewswire-FirstCall/ -- Avicena Group, Inc. (OTC Bulletin Board: AVGO), a late-stage biotechnology company that develops central nervous system therapeutics for neurodegenerative diseases as well as dermaceutical products announced today that it has signed an exclusive worldwide distribution agreement with RITA Corporation, a leading supplier of specialty chemicals to the personal care industry. The agreement covers global rights to certain Avicena compounds for use in the personal care industry. Avicena's proprietary dermaceutical compounds incorporate the company's patented cell-nourishing technology which promotes optimal cellular regeneration and cellular protection, as well as anti-aging skin benefits.

"RITA is highly regarded as a leading, global supplier of specialty chemicals to the cosmetic and personal care industries", said Belinda Tsao-Nivaggioli, Ph.D., CEO of Avicena. "This makes RITA an ideal partner to distribute our proprietary dermaceutical ingredients and to significantly expand our existing dermaceutical business."

"We are excited to have the opportunity to distribute Avicena's scientifically based skin care ingredients", said Brian Goode, President of RITA. "The industry continues to shift toward ingredients that are backed by proven science and achieve measurable skin benefits. Avicena's products fit well into this growing trend."

ABOUT AVICENA'S DERMACEUTICAL BUSINESS

Avicena is leveraging its proprietary cellular energy technology to commercialize therapeutic dermaceutical products, as well as proprietary ingredients and formulations. Avicena's scientifically based skin care ingredients and formulations are designed to enhance the regeneration of healthier skin and to protect against the effects of aging, as well as oxidative and photo damage.

Avicena has developed Nurigene(TM), an advanced skin care regimen based on the company's patented cell-nourishing technology which enhances optimal cellular regeneration and protection by providing critical nourishment to skin cells. Clinical studies have demonstrated that Nurigene has significant anti-aging benefits, including improvements in skin cell turnover, skin firmness, skin elasticity and the skin's ability to retain moisture.

Avicena currently supplies its patent-protected ingredients to leading manufacturers of dermaceutical and cosmeceutical products. Avicena is also actively researching and developing additional proprietary formulations to complement its current dermaceutical product portfolio.

ABOUT AVICENA

Avicena Group, Inc. is a Palo Alto, California-based late-stage biotechnology company that develops central nervous system therapeutics for neurodegenerative diseases. The company's core technologies, supported by a robust intellectual property portfolio, have broad applications in both pharmaceuticals and dermaceuticals. Avicena's pharmaceutical program centers on rare neurological disorders (orphan diseases). The company is currently analyzing data from its Phase IIb/III trial in ALS. In the near term, Avicena intends to initiate a Phase III trial in Huntington's disease to accompany the ongoing NIH Phase III trial in Parkinson's disease. Avicena's science is well established and its products are safe and well tolerated. Unlike traditional biotechnology companies, Avicena's clinical programs are largely funded by government and non-profit organizations. Avicena presently derives revenue from the sale of proprietary dermaceutical ingredients to skin care manufacturers.

ABOUT RITA Corporation

Over the past 54 years, RITA Corporation has positioned itself as a leading supplier of specialty chemicals to the personal care industry. Headquartered in Crystal Lake, Illinois, RITA operates five wholly-owned distribution centers across the United States and is represented by international agents on six continents. In addition to exclusive distributorships with premier agents, RITA maintains state-of-the-art production, formulation and quality control laboratories to deliver unique solutions personalized to the needs of each customer.

SAFE HARBOR

This release contains forward-looking statements that reflect, among other things, management's current expectations, plans and strategies, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. See "Risk Factors" under "Item 6. Management's Discussion and Analysis of Financial Condition and Results of Operation" from our Annual Report on Form 10-KSB for the year ended December 31, 2006, and other descriptions in the company's public filings with the Securities and Exchange Commission for a discussion of such risks, including the company's need for additional funds, the company's dependence on a limited number of therapeutic compounds, the stage of the products the company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the company's ability to avoid infringement of the patent rights of others, and the company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Avicena does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.

Contact:

The Ruth Group (on behalf of Avicena Group)

Sara Ephraim / (investors)

(646) 536-7002

sephraim@theruthgroup.com

Janine McCargo / Jason Rando (media)

(646) 536-7033 / 7025

jmccargo@theruthgroup.com / jrando@theruthgroup.com


'/>"/>
SOURCE Avicena Group, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. JT Packard exec resigns after settling copyright disputes
2. Cray signs $250M deal to develop supercomputer
3. Donley resigns as WiCell director
4. WARF signs licensing pact with BD Biosciences
5. TeraMedica signs agreement with ThedaCare
6. CATI signs agreement for food processing technology
7. Doyle signs bill that impacts electronic medical records
8. Doyle signs "self-dealing" bill
9. Electronic signs for municipalities: Las Vegas or lost revenues?
10. NorthStar signs exclusive agreement with Illinois foundation
11. Renaissance Learning CEO resigns to start company
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... June 23, 2016 A person commits a crime, ... scene to track the criminal down. An outbreak ... and Drug Administration (FDA) uses DNA evidence to track down ... Sound far-fetched? It,s not. The FDA has increasingly used ... investigations of foodborne illnesses. Put as simply as possible, whole ...
(Date:6/23/2016)... 23, 2016   EpiBiome , a precision microbiome ... in debt financing from Silicon Valley Bank (SVB). The ... to advance its drug development efforts, as well as ... "SVB has been an incredible strategic partner to ... traditional bank would provide," said Dr. Aeron Tynes ...
(Date:6/23/2016)... , June 23, 2016  Blueprint Bio, a ... discoveries to the medical community, has closed its Series ... Matthew Nunez . "We have received a ... the capital we need to meet our current goals," ... provide us the runway to complete validation on the ...
(Date:6/23/2016)... Windsor, Connecticut (PRWEB) , ... June 23, 2016 ... ... will introduce a new line of intelligent tools designed, tuned and optimized exclusively ... place September 12–17 in Chicago. The result of a collaboration among several companies ...
Breaking Biology Technology:
(Date:6/15/2016)... York , June 15, 2016 ... new market report titled "Gesture Recognition Market by Application ... Forecast, 2016 - 2024". According to the report, the  ... 11.60 billion in 2015 and is estimated to ... USD 48.56 billion by 2024.  Increasing ...
(Date:6/2/2016)... -- The Department of Transport Management (DOTM) of ... US Dollar project, for the , Supply and ... and IT Infrastructure , to Decatur ... of Identity Management Solutions. Numerous renowned international vendors participated in ... was selected for the most compliant and innovative solution. ...
(Date:5/20/2016)... 2016  VoiceIt is excited to announce its ... By working together, VoiceIt and VoicePass will ... VoicePass take slightly different approaches to voice biometrics, ... and usability. ... partnership. "This marketing and technology partnership ...
Breaking Biology News(10 mins):