Press Release, $3,500,000 Initial Order for FDA-Registered, Premium Hand Sanitizer Catapults SkinScience Labs, a Pending Accretive Acquisition of Pressure BioSciences, Into the Multi-Billion Dollar Hand Sanitizer Market.
SkinScience Labs, Creator of Award-Winning Dr. Denese Skin Care & Anti-Aging Product Lines, Enters Hand Sanitizer Market with Proprietary Formula Developed by Founder Adrienne Denese, MD., Ph.D.
SOUTH EASTON, Massachusetts, June 11, 2020 /PRNewswire/ -- Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company"), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology, biotherapeutics, cosmeceuticals, nutraceuticals, and food & beverage industries, today announced that its merger partner SkinScience Labs, Inc. has received an initial $3.5 million dollar order for its newly developed, premium, dermatological hand sanitizer product. PBI announced plans on April 30, 2020 to acquire SkinScience Labs (SSL Acquisition), parent company of the award-winning Dr. Denese skin care and anti-aging product lines. PBI's rights to acquire SkinScience Labs, Inc. arise through its planned acquisition of Cannaworx, Inc., announced on April 28, 2020 (Cannaworx, Inc. Acquisition).
Adrienne Denese, M.D., Ph.D. (Cornell, Harvard) is an industry leader in scientific skin care breakthrough technologies. As founder of the award-winning Dr. Denese SkinScience® product lines, it has been Dr. Denese's mission in life to help women look and feel younger, and live healthier lives. Her skin care and anti-aging product lines have consistently been top sellers on QVC, generating sales of about $18 million in 2019 and over $500 million since 2003 (https://drdenese.com).
Dr. Denese commented: "Our goal has always been to develop and supply the highest quality of personal care products expected by our very loyal customer base. Over the past few months, shortages of hand sanitizers have been reported by stores all over the US. With SkinScience Labs' nearly two decades of experience in formulation, manufacturing, and distribution, and my expertise and training as a scientist and physician, it became clear that we could become an important new part of the solution. With particular focus on the adverse effects that the high alcohol content in typical hand sanitizers have on skin, we went back to the lab and formulated a premium quality, dermatologically driven hand sanitizer. We recently made the decision to release this very effective, premium product to the market (Hand Sanitizer Launch)."
According to a 2019 report by Radiant Insights, the global hand sanitizer market was estimated to be $2.4 billion in 2017 and is anticipated to reach $5.5 billion by 2024 (Radiant Insights Report).
The merger of SkinScience Labs, Cannaworx, Inc., and Pressure BioSciences is expected to close by June 30, 2020. At that time, the company will change its name to Availa Bio. PBI, Cannaworx, and SkinScience Labs will operate as three separate, highly synergistic divisions under the Availa Bio umbrella. The new parent company will be publicly traded as a QB company on the OTC Marketplace. Availa Bio will be led by Jim Morrison (Availa CEO), former President of L'Oreal, StarShop, and Graham Webb. Mr. Morrison is also renowned for his long history in working with celebrities to launch beauty and personal care lines, including Kylie Jenner, Britney Spears, Christie Brinkley, and Rob Lowe. Mr. Morrison is widely regarded as one of the top brand strategists in the personal care space worldwide.
Mr. Morrison said: "Dr. Adrienne Denese is an accomplished doctor, scientist, businesswoman, and skin care visionary. It therefore came as no surprise that she chose to expand her very popular cosmetics line with the addition of a premium quality hand sanitizer based on her own proprietary formulation. With the high quality and care that Adrienne famously builds into all of her products, combined with her enormously loyal customer base, we believe this very well-timed $3.5 million dollar hand sanitizer order, which we understand is an approximate four month supply for our customer, is just the beginning of a new and very exciting era for Dr. Denese SkinScience."
Mr. Morrison continued: "I have been fortunate during my 30+ years in the personal care space to have gained significant experience launching products and driving sales through a myriad of retail channels worldwide. Since the May 14 announcement that we were entering the multi-billion-dollar hand sanitizer market, I have taken the opportunity to discuss our new, premium grade hand sanitizer product with several large U.S. retail outlets. The reception we received was extremely positive. We are expecting substantial on-going growth in this exciting and innovative new product line."