TORONTO--(BUSINESS WIRE)--Easton Pharmaceuticals, Inc. (OTC: EAPH) a specialty pharmaceutical company that designs, develops, and markets a premium array of topically-delivered therapeutic healthcare products, today announces it has signed a letter of intent to acquire a line of Anti-Ageing and beauty care products.
The company has 60 days to perform its due diligence and review the line of products as well as any intellectual property including any patents or patent pendings that may come with the acquisition. The list of products includes an Anti-Ageing HEMP based Anti-Ageing Moisturizer, a product fortified with HEMP oil which is derived from a different form of Cannabis plant known to have high amounts of proteins and amino acids to compliment the companies medical Marijuana initiatives. As well as encompassing HEMP oil, the HEMP based Anti-Ageing moisturizer uses pure botanical natural ingredients derived from plants, including organic herbs. Other products include a specialized anti-ageing serum fortified with high amounts of Vitamin C, a skin discoloration / age spot treatment gel and an anti-cellulite varicose veins treatment system.
The Product line and the company the products are being acquired from will stay confidential until closing of a final definitive agreement, which the company believes has a high probability of closing. Both companies have 60 days in which to come to terms and close on the final agreement. Whether the transaction closes or not, it is anticipated that Easton will be providing assistance to these products by lending the use of its own technology to help improve the products efficacy and delivery through the skin. Should the deal close, this acquisition will bring Easton into the $426 Billion a year Cosmetics Industry which will coincide and complement its therapeutic line of products including its main product, “VIORRA”, a product to help treat FSAD (Female Sexual Arousal Disorder) utilizing ingredients which the FDA classifies as safe (GRAS).
In other developments, the Company has received its shipment of its main ingredient HA for final trial batch samples of Viorra and its other products, but is still waiting on additional ingredients which are expected shortly. Once complete, the trial samples will be shipped to Mexico and other parts of Latin America where the company anticipates completing and obtaining governmental regulatory approval which would allow the products to be sold in those vast markets. Although its new revised website has experienced delays for various reasons including final design labeling, all of these products as well as its current line of therapeutic products and recently acquired FSAD Drug will be listed and detailed very shortly.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company that designs, develops, and markets a premium array of topically-delivered drugs, therapeutic healthcare products and beauty anti-aging cosmetic products. Its therapeutic healthcare products are focused on conditions that impact a large and expanding number of consumers including health and lifestyle issues related to female and male sexual dysfunction, treatment of certain pain, wound healing, scar and stretch marks, cellulite and varicose veins. The world market for these conditions is in excess of $10 billion while the world market for anti-ageing / beauty cosmetics is estimated at over $426 Billion.
The company's updated gel formulation is an innovative and thought to be unique transdermal delivery system. Easton Pharmaceuticals’ flagship product, VIORRA, is an over-the-counter aid for the treatment to restore and improve vaginal moisture and elasticity which has a very positive effect on women’s sexual desire and arousal, FSAD (Female Sexual Arousal Disorder) the world market for these female conditions are in excess of $2 billion. VIORRA is a topical, daily-use product classified by the FDA as containing Generally Recognized as Safe ingredients.
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intent to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing and other risks and uncertainties as stated in the company's financial reports and filings.