Most Popular in:
The Estée Lauder Companies; Unigen Sign Exclusive Product License and Supply Agreement
Posted: March 22, 2011
Unigen Inc. announced that it has entered into an exclusive product license and supply agreement with a subsidiary of The Estée Lauder Companies Inc. relating to the development and commercialization of Unigen's proprietary natural ingredients. Under the agreement, Unigen granted the Estée Lauder Companies exclusive rights to certain discoveries. Financial details of the agreement were not disclosed.
"The combination of Unigen's commitment to developing highly effective cosmetic ingredients with the Estée Lauder Companies' outstanding product development expertise will result in even better performing products for our consumers," said Harvey Gedeon, executive vice president global research, development and product innovation for the Estée Lauder Companies. "We are pleased to have the exclusive rights to important Unigen discoveries—the first of which is now being used in Clinique's exciting new products, Clinique Even Better Clinical Dark Spot Corrector and Clinique Derma White Clinical Brightening Essence. We look forward to working with Unigen's scientists to bring additional benefits to our other products and brands."
"The greatest reward for scientists is to see their discovery successfully commercialized and provide meaningful benefits," said Ed Cannon, PhD, president and CEO, Unigen. "We are delighted that a company with the Estée Lauder Companies' stature and global reach has committed to showcase our scientists' discoveries. Unigen shares a commitment to people and planet, and we are excited by the new product potential of combining the Estée Lauder Companies' skin biology expertise with Unigen's natural products chemistry and biology expertise."
For the Estée Lauder Companies, the agreement formalizes an important and commercially successful collaboration with one of the leading experts in discovery and development of proprietary natural ingredients for the dietary supplement, food, cosmetics/personal care and pharmaceutical industries. This strategic alliance, according to the press release, combines Unigen's innovative research and the Estée Lauder Companies' global reach, with a commitment to the highest quality products.