Optigenex Inc. Signs New License and Distribution Agreement With Itochu Corporation of Japan
06 April 2009 - 10:41PM
PR Newswire (US)
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,
Web Site: http://www.optigenex.com/
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