PROOF OF LIFE: Beauty company Living Proof, Inc. is expected to announce today that they have entered into a global venture with Valeant Pharmaceuticals International, Inc. to develop, distribute and commercialize products for aesthetic dermatology. The deal is worth more than $75 million in upfront and milestone payments and profit splits, according to a Living Proof spokesperson.
The first product is based on Strateris, a proprietary cross-linking, breathable polymer film technology invented by the team at Living Proof. That team includes Dr. Bob Langer, a professor at the Massachusetts Institute of Technology, and Doctors Betty Yu, Rox Anderson and Barbara Gilchrest. Valeant will sell a version of the film through its direct-to-physician distribution. That film is said to also said to be flexible and imperceptible during daily use, which the company claims can reshape the appearance of skin. It is expected to bow at the March 2014 American Academy of Dermatology conference.
“By combining Living Proof’s innovative research and development capabilities and entrepreneurial agility with Valeant’s enormous expertise and global scale in aesthetic dermatology, together we have created a powerful commercial opportunity,” said Jill Beraud, chief executive officer of Living Proof.