-ImmuDyne signs non-binding term sheet to in-license disruptive, dermatologist-backed hair loss product with definitive agreement expected in August
-Company preparing for an expected global product launch online and in leading retail stores in Q4’16
MT. KISCO, N.Y., July 12, 2016 (GLOBE NEWSWIRE) -- ImmuDyne (OTCQB:IMMD), a leader in the development and marketing of OTC healthcare products, today announced the signing of a non-binding term sheet with Pilaris Laboratories, LLC, for an exclusive worldwide license to commercialize the PilarisMax line of hair loss products.
Pilaris Laboratories (“Pilaris”) was founded by Dermatologists Steven D. Shapiro M.D. and Michael T. Borenstein M.D. Ph.D. after 5 years of clinical research on topical dihydrotestosterone (DHT) inhibitors. Dr. Shapiro has 27 years of clinical experience with treating hair loss and hair transplant procedures. Dr. Borenstein holds a PhD in Pharmacology and has a background in scientific research and clinical dermatology.
Pilaris Laboratories’ lead product is a shampoo with three potent naturally occurring DHT blockers in an innovative sulfate free base that has shown to be safe and effective in supporting hair health and thickness in both men and women. Pilaris Laboratories and Immudyne will immediately begin work on developing a conditioner with a complimentary ingredient profile.
“We are thrilled to partner with Dr. Shapiro and Dr. Borenstein on the global launch of an innovative, breakthrough product aimed at helping millions of men and women that struggle with thinning hair,” stated Mark McLaughlin, President & CEO of Immudyne. “After a thorough due diligence process and independent product testing, Immudyne’s leadership and scientific team believe Pilaris’ solution may be superior to currently marketed products in the hair loss category, and could become a successful global brand under the leadership of Immudyne PR, our direct marketing division.
“Our goal as physicians and scientists has been to find a marketing partner with integrity and a successful track record in the direct marketing space,” stated Michael Borenstein, M.D., PhD, “We feel ImmuDyne is the right partner to get our products in the hands of men and women around the world that want a safe and effective product for hair loss.”
According to www.ibisworld.com, the hair loss treatment market is estimated to be $3.5 billion per year worldwide.
Immudyne expects to execute a Definitive Licensing Agreement with Pilaris Laboratories in August and has already commenced preparing for launch of the product online.
About ImmuDyne, Inc.
ImmuDyne, Inc. (the “Company”) develops, manufactures and sells natural immune support products containing the Company’s proprietary yeast beta glucans. The Company also has a majority owned direct marketing division that markets immune support, skincare and hair loss products directly to consumers around the world. All of ImmuDyne’s intellectual property is protected by patents and/or trade secrets. Additional information can be found on the web at www.immudyne.com.
Forward-Looking Statements
Cautionary language regarding Forward-Looking Statements Safe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Certain statements in this press release, including projections with respect to ImmuDyne’s results of operations, may contain words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "projects," "plans," "targets" and other similar language and are considered forward-looking statements. These statements are based on management's current expectations, estimates, and forecasts. These forward-looking statements are subject to important assumptions, risks and uncertainties, which are difficult to predict and therefore the actual results may be materially different from those discussed.