Phosphagenics signs Indian skincare licensing deal

Phosphagenics (ASX:POH) has signed a licensing agreement covering the Indian market for three skin care products.

The company has agreed to license the products, which have been specifically formulated for Indian market, to India's Intas Pharmaceuticals.

Phosphagenics markets a range of skin care and beauty products under the label BioElixia.

Under the terms of the deal Intas will market the products to Indian dermatologists and GPs, and will pay Phosphagenics an undisclosed royalty on sales.

Phosphagenics CEO Dr Esra Ogru said the company views India as a key potential market, and plans to launch a full dermatological line of products in the nation if the first three products sell well.

This is the third Asian deal Phosphagenics has announced since early March, after a pre-licensing deal for OTC pain patch TPM/diclofenac with Japan's Nippon Zokia Pharmaceutical, and a deal to supply BioElixia products to Korean Drug Company.

Each of the three products due to debut in India incorporate Phosphagenics' targeted penetration matrix (TPM) topical and transdermal delivery technology.

This is the same technology behind TPM/diclofenac and the company's TPM/oxycodone chronic pain relief patch, both of which are progressing through the trial phase..

Phosphagenics (ASX:POH) shares were trading at $0.225 on Thursday, down 4.26% from Tuesday.