TriStar Wellness Solutions Signs Exclusive Global Licensing Option Agreement With Polytherapeutics f
TriStar Wellness Solutions Signs Exclusive Global Licensing Option Agreement With Polytherapeutics for Treatment of Specific Skin Conditions and Wound Care
PharmaDur®Drug Delivery Technology to Form Basis of Novel Treatments
WESTPORT, Conn.--(BUSINESS WIRE)-- TriStar Wellness Solutions, Inc. (OTCQB: TWSI), a health and wellness company that targets opportunities in the self-care and professional marketplace, has signed an exclusive, three-year licensing option agreement with Polytherapeutics, Inc. for its PharmaDur® drug delivery technology, for over-the-counter ("OTC") products focused on the treatment of specific skin conditions and wound care applications.
The licensing option agreement enables TriStar Wellness Solutions to continue development of novel products using the PharmaDur® technology. Upon successful product development and regulatory approval the licensing option will convert into a full global license for this important technology. This technology enables a more effective and convenient delivery of therapeutic active ingredients that is expected to support important and differentiated superiority claims relative to current market competitors.
PharmaDur® is the second development in TriStar Wellness Solutions' wound care product line announced this month. Last week, TriStar announced its acquisition of HemCon Medical Technologies, a developer of bleeding and wound management technologies for surgical, healthcare, consumer and military markets, which will operate as a wholly owned subsidiary of TriStar.
"We are encouraged by the results of our initial testing of the PharmaDur® technology to deliver game-changing product performance that will greatly benefit consumers," said John Linderman, President of TriStar Wellness Solutions. "We are pleased to have added this important technology to our growing portfolio of capabilities in the skin care and wound care space. Considered in conjunction with our recent acquisition of HemCon Medical Technologies, we believe we are quickly establishing ourselves as a formidable and growing player in this vital area of healthcare."
Mr. Linderman continued, "We believe that long-term market success must be based on harnessing new science and technologies that deliver meaningful improvements in the quality of life for consumers. The PharmaDur® technology represents an exciting platform for TriStar that will span many unique product applications within the skin and wound care categories. TriStar is in an ideal position to find and apply technologies like PharmaDur® based on our strong internal product development and marketing expertise."
"We are delighted to be collaborating with TriStar in this venture to produce high-value healthcare products for consumers," said Kishore R. Shah, President of Polytherapeutics.
The PharmaDur® technology is based on novel polymer having a combination of both hydrophilic and hydrophobic characteristics, with long-lasting and controlled-release capabilities. Formulation of active ingredients with PharmaDur® polymer can significantly improve its performance when used topically. The performance improvement is attributed to PharmaDur® polymer's unique combination of bioadhesion and controlled release capability. These properties enable formulation of pharmaceutical and personal care products, which exhibit long lasting effectiveness while minimizing or eliminating toxic and undesirable side effects.
About TriStar Wellness Solutions
TriStar Wellness Solutions, Inc. (TWSI) is a health and wellness company that targets under-met consumer opportunities in the OTC and professional marketplace. Its core strategy plans to meet the growing demand for personalized, care solutions by leveraging proprietary innovation and healthcare technology with the rapid transformation of the healthcare marketplace to create innovative, science based solutions and brands. TriStar recently acquired HemCon Medical Technologies Inc., a developer, manufacturer, and marketer of innovative technologies for hemostatic devices for the control of bleeding resulting from trauma or surgery. It also owns the Beauté de MamanTM brand of women's health products. Additional information is available at www.tstarwellness.com.
Polytherapeutics is a research and development company having a mission of developing unique value added and patent protected technologies and healthcare products. It is focussed on commercializing health and beauty products based on its unique bioadhesive PharmaDur® actives delivery technology.
Additional information is available at www.pharmadur.com.
This press release for TriStar Wellness Solutions, Inc. contains forward-looking statements. Generally, you can identify these statements because they use words like "anticipates," "believes," "expects," "future," "intends," "plans," and similar terms. These statements reflect only our current expectations. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy and actual results may differ materially from those we anticipated due to a number of uncertainties, many of which are unforeseen, including, among others, the risks we face as described our filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements which apply only as of the date of this press release. To the extent that such statements are not recitations of historical fact, such statements constitute forward-looking statements that, by definition, involve risks and uncertainties. In any forward-looking statement where we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement of expectation of belief will be accomplished.
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