- Merger of Pressure BioSciences, SkinScience Labs and Cannaworx, Inc. is expected to close by June 30, 2020
- SkinScience Labs is the parent company of the award-winning Dr. Denese skin care and anti-aging product lines, a top QVC seller generating sales of over $500M since 2003
- The $3.5M order is for an initial four-month supply of SkinScience Labs’ (SSL)premium grade hand sanitizer
- Hand sanitizer market is growing exponentially; it is expected to reach $5.5 billion by 2024
- SkinScience Labs and Cannaworx product lines will leverage Pressure BioSciences’ proprietary Ultra Shear Technology (UST) for preparing high quality nanoemulsions to drive product quality and effectiveness, while reducing manufacturing cost
Pressure BioSciences (OTCQB: PBIO), a leader in the worldwide pressure technologies industry, announced that SkinScience Labs, a pending accretive acquisition of the Company, has received an initial $3.5 million order for its premium FDA-registered dermatological hand sanitizer product (http://ibn.fm/3UXmq).
SkinScience Labs (“SSL”) is the creator and parent company of award-winning Dr. Denese skin care & anti-aging product lines. Developed by founder Adrienne Denese, MD., Ph.D., this skin care company has a global customer base that numbers in the thousands; it has recorded revenue over $500 million on QVC since 2003 and $18 million in 2019 alone. As QVC has been SSL’s only sales channel to date, the merger with Pressure BioSciences represents an opportunity for dramatic growth in sales.
On May 14, SSL announced it had developed a premium grade hand sanitizer that would allow the company to penetrate the fast-growing hand sanitizer market, expected to reach $5.5 billion by 2024 (http://ibn.fm/TeOH0). SSL continues to receive positive feedback for its product and has received significant interest from many large retailers.
Pressure BioSciences will acquire SSL through its planned acquisition of Cannaworx, Inc. Both companies offer PBIO a diverse portfolio of products and intellectual property developed by its founders Dr. Adrienne Denese and Dr. Bobby Ghalili, DMD. These acquisitions by PBIO were announced on April 28, 2020 (http://ibn.fm/t7OWx). The merger of SSL, Cannaworx, Inc., and Pressure BioSciences is in the final stages, pending due diligence and acquisition financing, and is expected to close by June 30, 2020.
The resulting entity will operate under the name of Availa Bio, while each of the three companies will operate as 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 CEO Jim Morrison, former President of L’Oreal, StarShop, and Graham Webb. Mr. Morrison is widely regarded as one of the top brand strategists in the global personal care industry.
The $3.5 million order announced on June 11 is merely the initial order for a four-month supply of the premium, dermatological hand sanitizer product. Mr. Morrison expects future orders and other substantial ongoing growth in the hand sanitizer product area. “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,” he said.
Dr. Denese added that the new product is a direct response of the significant shortages of hand sanitizers reported by stores all over the U.S. over the past few months. “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,” Dr. Denese explained. “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.”
The Dr. Denese SkinScience product lines, as well as the Cannaworx product lines, will leverage Pressure BioSciences’ Ultra Shear Technology (UST) for preparing high quality nanoemulsions to drive product quality and effectiveness, while concomitantly reducing manufacturing costs. This will benefit both existing cosmetics formulations and future nutritional and therapeutic components. It will also position SkinScience Labs as a leader in the rapidly emerging cosmeceuticals applications market.
The newly merged company will be off and running as soon as it is formed, as Availa Bio will own 31 patents, have hundreds of corporate and thousands of retail customers, and will have several hundred products on the market already generating revenue: SSL saw $18 million in 2019 revenue (without the hand sanitizer), and Pressure BioSciences saw approximately $2 million in 2019 revenue without the recently announced new order for an additional $2.4 million. Although Cannaworx had no products on the market in 2019, a new immune booster product will be launched in mid-July, followed by several other unique, hemp-derived, CBD infused products. It is extremely exciting to think what the combination of these three companies will yield!
For more information, visit the company’s website at www.PressureBioSciences.com.
NOTE TO INVESTORS: The latest news and updates relating to PBIO are available in the company’s newsroom at http://ibn.fm/PBIO
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