The US hair care brand has entered into a global venture with Valeant Pharmaceuticals
US hair care brand Living Proof has entered into a global venture with global pharmaceuticals giant Valeant Pharmaceuticals to develop, distribute and commercialise products for aesthetic dermatology. The deal, which is said to be worth over $75m in upfront and milestone payments as well as a 60/40 profit split, will see the companies develop products based on Living Proof's proprietary, cross-linking polymer film technology, Strateris, which reshapes the appearance of skin. The products are expected to be sold exclusively through Valeant's direct-to-physician channel.
Inspired by the attributes of youthful skin, scientists at Living Proof have been developing Strateris for almost 10 years. According to the company, the technology works as a breathable, flexible and imperceptible film that can be worn all day to reshape the appearance of skin.
"By combining Living Proof's innovative R&D 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, CEO of Living Proof.
Valeant and Living Proof plan to launch the first product using Strateris technology at the American Academy of Dermatology conference in March.