Restorsea's commercialization of Aqua Bio Technologies ASA's hatching fluid ingredient (Aquabeautine XL) continues.
As mentioned in the commercial update on November 26, 2020, Restorsea has recently entered into two license agreements with two partners in addition to the license agreement with NASDAQ-listed Conversion Labs.
In connection with Hydrafacial`s merger with Vesper Healthcare and the contemplated listing on NASDAQ Capital Market (NASDAQ), Restorsea is presented as Hydrafacial's new partner from 2021. In Q3 2020, Hydrafacial has 15,124 skincare machines in 87 countries.
As mentioned in the stock exchange announcement on 27 October 2020, Restorsea has entered into an agreement to license Aquabeautine XL to the company Conversion Labs, which was listed on NASDAQ on 10 December 2020. Conversion Lab has today officially launched its new Veritas MD telecommunications health platform, which will roll out the new skincare brand Nava MD nationwide. Nava MD is based on Aquabeautine XL.
The positive trend from Restorsea's commercialization of ABT's proprietary technology increases the likelihood that ABT will receive additional renewal payment and increased revenue from the sale of ingredients and royalties from Restorsea and its licensees.
For further information, please contact Espen Kvale, CEO, telephone +47 916 28 092
Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skin care products. ABT's cosmetics ingredients are effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skin care products developed by partners towards consumers and professional users. ABT's focus on commercialization and development of natural ingredients and natural skin care products has been, and will continue to be, an important part of the company's strategy going forward. Aqua Bio Technology is listed on Euronext Expand.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.