Oxygen Biotherapeutics has entered into an agreement with the newly formed, independently owned and operated Dermacyte Switzerland (DSL) of Zurich for the sale of Dermacyte products.
Under the terms of the agreement, DSL has exclusive rights to sell and distribute Oxygen Biotherapeutics’ Dermacyte skin care products that it purchases throughout the European Union, Switzerland and Russia.
The agreement also grants DSL the option to add South America as an exclusive territory if purchase volume milestones are achieved.
As per the agreement, DSL commits to purchase a total of 40,000 units of Dermacyte products by calendar year-end 2011.
Oxygen Biotherapeutics does not have an ownership stake in DSL but has granted rights to DSL to use the product trademark.
Oxygen Biotherapeutics chairman and CEO Chris Stern said expansion into Europe is a key component of their overall sales strategy for Dermacyte skin care products and they believe that DSL will allow them to reach this key customer base.