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Stroll along the cosmetics aisle in nearly any neighborhood drugstore, and you'll walk past a Neutrogena cosmetics display touting a new "active copper" anti-aging ingredient in its products.
The copper peptide technology behind Neutrogena's "Visibly Firm" cosmetics line was developed by Redmond biotech ProCyte Corp., originally as a healing gel for surgical incisions and such stubborn wounds as diabetic ulcers. But "healing the wounds of time" - the company's motto - has proven far more lucrative.
The cosmetics deal with the Johnson & Johnson subsidiary has produced royalties in the $800,000 to $1 million range since the "Visibly Firm" line launched last spring, said chief executive John F. Clifford. It marks ProCyte's successful repositioning from fledging drug company to a cosmeceutical. The biotech just posted its first ever profitable quarter since its founding 16 years ago and expects to end the year in the black.
With the success of Neutrogena's "Visibly Firm" cosmetic fine, which launches in Europe later this year, other skin-care companies within Johnson & Johnson are evaluating incorporating ProCyte's copper peptide technology in their products. ProCyte's copper peptides currently are used in a range of products from therapeutic gels for wounds to shampoos and conditioners for thinning hair to skin creams for use following facial peels, laser resurfacing, plastic surgery and hair transplants. The company's research shows copper peptides help renew tissue by stimulating new blood vessel formation and collagen synthesis - the network of elastic fibers that maintain the skin's resiliency.
Despite passing a significant financial milestone through its Neutrogena deal, ProCyte's celebration was typically lowkey, befitting a company...