Pressure BioSciences Inc PBIO has teamed up with Dr. Adrienne Denese for a two-year Collaborative Research and Development Agreement.
What Happened: Dr. Adrienne Denese is the creator and President of Dr. Denese SkinScience – one of the long-lasting skincare lines in the history of QVC, a part of Qurate Retail Inc QRTEA
The companies will prioritize specific skincare projects to pursue. Statements of Work will be developed with approved budgets, timetables, and remuneration formulas.
Pressure BioSciences and Dr. Denese have already agreed to focus on using PBI's Ultra Shear Technology (UST) nano emulsification platform to enhance existing and develop new skincare products for Dr. Denese SkinScience.
The UST platform can process oil-based active ingredients into effectively water-soluble formulations.
Why It's Important: Dr. Adrienne Denese said the company had achieved over $560 million in QVC sales over 20 years.
Richard Schumacher, President & CEO of Pressure BioSciences, observed: "From 2019 - 2021, Dr. Denese averaged close to $20 million per year in total sales. In 2022, with help from the new channel partner Costco, sales are expected to increase significantly."
"The launch of a new generation of products processed by PBI's patented UST platform, for the first time in the cosmeceuticals area, is planned for 2023, which we expect to result in a very fulfilling and exciting year for Dr. Denese and her loyal customers – and PBI," Schumacher added.
Price Action: PBIO shares closed at $1.77 on Tuesday.
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