SENETEK PLC TO ACQUIRE ASSETS OF CARME, INC. FOR ABOUT $4 MILLION
"By becoming an affiliate of Senetek, PLC, Carme International will allow Senetek, PLC to expedite the introduction of its VivaKin products into the North American and international consumer markets. Senetek PLC is establishing distribution in parts of Asia and Europe," said Dr. Gerlof Homan, President and Chief Executive Officer of Senetek PLC. "I believe that VivaKin will provide a new approach to reducing the signs of aging."
"With the investment in Carme International, we acquire access to a base of $8 million in annual sales, as well as established manufacturing, marketing, and sales capabilities that serve our national and international target markets," said Alan L. Hofstein, President of Senetek PLC's Skin Care Division. "VivaKin is introduced as part of a family of products to allow both men and women to look younger and healthier with advancing years."
Carme International, Inc. will honor all outstanding orders and contracts to supply products. Mr. Hofstein will join Carme International as President and Chief Executive Officer of Carme International, Inc.
Carme has successfully developed and established a market for skin care products in a number of market niches. Its Allercreme brand name line, which is marketed to physicians, is a leader in hypo-allergenic products for sensitive skin. Its Mill Creek product line is marketed primarily to the health food segment, and its Silver Fox products are targeted to the growing graying population.
Carme has been in the vanguard of the development of cruelty-free non-animal tested personal products.
Senetek PLC owns the patent rights to the use of Kinetin for skin treatment. Kinetin, a plant growth hormone, is the active ingredient in VivaKin. In 1994, the results of a study were reported in the scientific journal Biochemical and Biophysical Research Communications on the anti-aging effects of Kinetin. The study provides experimental evidence that Kinetin can prevent completely or partially a variety of aging-related changes in the appearance and function of human skin cells. The VivaKin products will be introduced as a complete skin care regime to ameliorate the effects of aging.
The acquisition of Carme will give Senetek PLC the ability to manufacture and market VivaKin skin care products through an established distribution channel. Carme has the capacity to manufacture in excess of $50 million worth of products per year using a multi-shift operation. Through Carme, Senetek PLC will establish an immediate presence in the $56 billion skin care market.
Senetek PLC is dedicated to the development of technologies to provide better solutions for a broad array of aging-related health and appearance problems around the world. Besides skin care and the treatment of skin diseases, Senetek PLC is also focusing on the development of novel therapeutics for erectile dysfunction, including an auto injector system designed to provide a significantly improved and virtually painless method of drug delivery suitable for untrained patients.
Senetek PLC is a technology based company dedicated to the development, manufacture and sale of health care products addressing the needs of the world's aging population. Senetek (SNTKY) is a publicly traded company with its corporate headquarters in the U.K.
/CONTACT: Dennis Nebbe, Senetek PLC, 800-869-1696/
CO: Senetek PLC ST: Missouri IN: MTC SU: TNM
SD-BR -- AT008 -- 0955 08/02/95 09:15 EDT
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|Date:||Aug 2, 1995|
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