OPGX NEWS: Optigenex Inc. Agrees to Long-Term License Granting Promethean Corporation Exclusive North American Distribution Rights for Cosmeceutical and Dietary Supplement Products Containing AC-11(R) in the Direct Sales (Network Marketing) Distribution Channel
9:22a ET January 4, 2010 (Market Wire)
Optigenex Inc. (PINKSHEETS: OPGX) announced today the signing of a long term exclusive license agreement with Promethean Corporation for distribution and marketing of branded cosmeceutical and dietary supplement products containing AC-11(R), a patented, all-natural rain forest botanical extract manufactured by Optigenex that helps the body's natural ability to repair damaged DNA as a result of overexposure to the sun and other environmental stressors. Under the new agreement, Promethean through its wholly owned subsidiary, Ceres Living will market the "AIO Premium Cellular Health(TM)" line of advanced dietary supplements, as well as specially formulated next generation topical skin care products with AC-11(R). The contract vests Promethean with exclusivity in the North American "Direct Sales" or "Network Marketing" distribution channel coinciding with the expiration of similar channel rights previously held by former licensee. In addition to North American Direct Sales channel rights, Promethean will exercise exclusive rights and sublicensing rights in all channels in China and certain additional non-exclusive channel rights in North and Central America and Australia.
Daniel Zwiren, president and CEO of Optigenex Inc. said, "Teaming up with Promethean promises to be the perfect start of a new decade for Optigenex. The management at Promethean and its wholly owned subsidiary, Ceres Living are professionals with a proven record in business management and the Direct Sales (Network Marketing) distribution channel. We are excited to see the AC-11(R) brand and our unique theme of DNA health associated with the innovative technologies behind AIO Premium Cellular Health(TM)."
Matthew Henninger, Chairman & CEO of Promethean Corporation, added, "We had wanted to work with the Optigenex team and their product AC-11(R) since before we developed the AIO Premium Cellular Health(TM) product line. Now that timing has allowed our two companies to align, we look forward to continued collaborative research and development of products that offer the best technologies in cellular health and nutrition."
About Optigenex Inc.:
Optigenex Inc. is a technology-based developer of proprietary anti-aging ingredients for various health-related industries, including wellness, beauty and dietary supplements. AC-11(R) (formerly known as C-MED-100(R)) is the company's patented all-natural extract from the medicinal herb Uncaria tomentosa. From its origins in the Amazon Rain Forest, AC-11(R) delivers a unique bioactive compound of water soluble carboxy alkyl esters (CAEs(TM)) that form the backbone of the company's revolutionary approach to DNA care and healthy aging. For more information about Optigenex please visit our website: www.optigenex.com
About Promethean Corporation:
Promethean Corp. ("Promethean") is a New York City based Health Care related products and services company that develops, manufactures and distributes its own products. The company through its wholly owned subsidiary, Ceres Living produces and sells the AIO Premium Cellular Health(TM) product line. The company develops Advanced Nutraceuticals, Advanced Personal Care products and other Nutritional and Wellness Products and Services that it plans to sell in multiple channels of distribution. For more information about Promethean Corporation, please contact the company at (212)-355-5129.
*The statements made in this press release have not been evaluated by the Food and Drug Administration (FDA). The products mentioned herein are not intended to treat, diagnose, cure or prevent any disease.
Contact:
Optigenex Inc.
Dan Zwiren
president and CEO Optigenex Inc.
dzwiren@optigenex.com
201 355 2098
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