US life sciences company signs non-exclusive license agreement to market, sell and distribute brand’s Herman lip balm
Tauriga, a US life sciences company, has entered into a license agreement to market, sell and distribute cosmetics company Ice + Jam’s Herman lip balm.
The balm is made from raw ‘hand-scooped’ cupuacu butter sourced from the fruit of the cupuacu tree in the Amazon basin.
The two companies will split revenue and profits made through Tauriga’s efforts evenly.
The company has already identified several potentially interested retailers and distributors.
Tauriga has paid for the first production run of Herman and is hopeful of generating revenues during H1 2017.
The licensing deal is due to run for an initial 12 months with the option to extend for another 12 on mutual agreement.
Tauriga's CEO Seth Shaw said the company is “pleased” to have the opportunity to market the product.
He said: “This product is packaged similarly to successful existing lip balm products and brands and the company has already identified several potentially interested retailers and distributors.”
Ice + Jam is headquartered in Cleveland, Ohio, US and specialises in lipsticks with moisturising benefits.