Optigenex Inc. Signs New License and Distribution Agreement With Itochu Corporation of Japan
Company extends the term and expands territorial rights of its exclusive licensee in Japan after Itochu reaches market penetration milestone of 100 customer manufacturers in Japan for cosmeceutical and dietary supplement products using patented AC-11(R) (formerly known as C-Med- 100(R))
NEW YORK, April 6 /PRNewswire-FirstCall/ -- Optigenex Inc. (Pink Sheets: OPGX) announced today the signing of an extended and expanded new contract with its distribution partner in Asia (Itochu Corporation). Under the new license, Itochu has the right to market AC-11(R) technology exclusively in Japan and non-exclusively throughout the rest of Asia (Additional details were not disclosed). The new agreement represents the fulfillment of an important strategic objective to the company in terms of its business development plans for the Asia and further validates its business model in Japan and other countries in the region.
To date, Itochu has introduced AC-11(R) to over 100 companies in the cosmetic and dietary supplement market, with over 130 products containing AC-11(R) being marketed and sold. AC-11(R) is a patented, all-natural rain forest botanical extract that helps the body's natural ability to repair damage to its own DNA due to multiple causes, including harmful effects of UV radiation from over exposure to the sun, stress, environmental pollution and other toxins. In its standard bulk powder form, AC-11(R) supplement may be consumed orally or combined with liposomes and other delivery mechanisms for topical application on the skin.
The increase in demand for AC-11(R)-based products follows the issuance of a report in October 2008 by a leading French dermatological research center showing that orally administered AC-11(R) supplement increases the production of collagen III in the epidermis layer of the skin by stimulating expression of the COL3A1 gene. Collagen III is important for the development of skin and the cardiovascular system and for maintaining normal physiological functions in adult life. Results of the study suggest that oral and topical AC-11(R) products, when combined, are an inner and outer beauty solution to help reverse the signs of premature aging.
The French research, which was sponsored by Itochu, compliments earlier published third party studies demonstrating the effectiveness of AC-11(R) as a unique DNA repair adjuvant, as well as a natural inhibitor of pro-inflammatory agents and a natural immune system supporter.
Itochu partners with Optigenex under an Exclusive Supply and Trademark Licensing Agreement to market AC-11(R) bulk material and consumer products containing AC-11(R) under sublicenses in Japan and several other Asian countries.
Daniel Zwiren, president and CEO of Optigenex Inc. said, "We are excited by our new agreement with Itochu and equally with the results of the French laboratory study and by Itochu's joint commitment with us to expand the science behind AC-11(R). The personal care products market in Japan and the rest of Asia continues to grow. With Itochu's efforts, we are confident that Optigenex and AC-11(R) will be part of that growth."
Yusuke Itou of Itochu Corporation added the following, "We are very pleased with the positive reception AC-11(R) has received from manufacturers in Japan and our expanding role in marketing AC-11(R) in Southeast Asia. We anticipate strong demand for additional AC-11(R)-based products in the remainder of 2009 and beyond as consumer awareness of the benefits of AC-11(R) for healthy DNA maintenance and natural skin collagen production increases."
About ITOCHU Corporation:
Itochu Corporation is one of Japan's leading trading companies and is engaged in a wide variety of businesses, including food products, personal care products, textiles, technology multimedia, metals, energy, chemicals, forest products, retail and financial services. Itochu has approximately 45,690 employees maintains over 130 offices and owns over 651 subsidiaries and affiliates around the world. Itochu's sales last year reached 11.58 trillion yen (U.S. $95 billion.) (Update sales revenue and company figures)
About Optigenex Inc.:
Optigenex inc. is a formulator, distributor and provider of proprietary next generation skin care, supplements and bulk ingredient featuring AC-11(R) (Formerly known as C-MED-100(R)) a patented compound as it core product. AC- 11(R) is the bioactive, water soluble form of the medicinal herb Uncaria tomentosa. For more information about Optigenex please email the company at:
DATASOURCE: Optigenex Inc.
CONTACT: Daniel Zwiren, President, Optigenex Inc., +1-201-355-2098,