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Commercial update ABT
1. Development and positioning of Moana Skincare and new product series series from DCP
In connection with ABT's acquisition of all rights to Moana Skincare, the company has engaged the advertising and media agency Atyp for the further development and positioning of Moana Skincare. Furthermore, ABT has engaged Glitch Studios to develop the first two cosmetic series from the DCP collaboration. As part of these two ongoing development processes, ABT will also update its own websites and e-commerce solution. The acquisition of the rights of Moana Skincare and the strategic agreement with DCP also means that ABT will offer skin care products such as private labels to pharmacy chains, spa and skin care chains, perfumeries and other professional point of sales, as well as brand owners nationally and internationally.
2. Update product series from DCP
ABT's work with cosmetic safety studies for the product series Nordic Beauty and Balance & Vitality is in the final phase and has so far proceeded without negative feedback. ABT expects a positive conclusion of the cosmetic safety studies which means that the product series will be ready for distribution and sale in the first half of 2021.
3. Restorsea's commercialization of ABT's hatching fluid ingredient
ABT's US partner Restorsea has since 2012 invested large sums to have the exclusive right to use ABT's hatching fluid ingredient as the main ingredient in its own and licensed products. As mentioned in ABTs stock exchange announcement of 27th October 2020 and Conversion Labs stock exchange announcement of 26th October 2020, ABT's US partner Restorsea has entered into an agreement to license Aquabeautine XL to Conversion Labs. Conversion Labs intends to launch its new product series Nava MD, which is based on Aquabeautine XL, in the first quarter of 2021.
Conversion Labs has in stock exchange announcements of November 4th, November 10th, November 16th, and November 20th, published information that they have strengthened the board and management and carried out a private placement of MUSD 15 to institutional investors in connection with the listing process on NASDAQ Capital Market (NASDAQ). Restorsea has informed the company that during 2020 the company has entered into two other license agreements with US partners.
3. Covid-19
Covid-19 affects many companies, including ABT, but the company works to make good use of time in this difficult situation so that ABT is well prepared and positioned when the pandemic allows this.
For further information, please contact Espen Kvale, CEO, telephone +47 916 28 092 - espen.kvale@aquabiotech.no. 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 the Axess market of the Oslo Stock Exchange.
