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Entia Biosciences, Inc. (OTCQB: ERGO) Enters into Exclusive Worldwide Licensing Agreement for its GROH Beauty Products Line
Entia Biosciences, Inc. (OTCQB: ERGO) Enters into Exclusive Worldwide Licensing Agreement for its GROH Beauty Products Line.
About this update from Entia Biosciences Inc
[{"type":"text","content":"\n\n PORTLAND, Ore., Feb. 24, 2017 (GLOBE NEWSWIRE) -- Entia Biosciences, Inc. (OTCQB:ERGO) announced that it has licensed to GROH BEAUTY CORP of Deerfield Beach, Florida, the exclusive worldwide rights to manufacture and distribute its proprietary GROH® beauty care product line.  The license also has a companion agreement that provides for Entia to manufacture and supply its proprietary ErgoD2® product for use in GROH BEAUTY CORP's manufacture of the various products within the GROH product line.  Together, the license and its companion manufacturing agreement provide Entia with an upfront license fee, on-going royalties based on sales of products containing the ErgoD2 compound and sales revenue from supply of ErgoD2 to GROH BEAUTY CORP. \n “We are very pleased to be working with GROH BEAUTY CORP, a new business unit of a proven, successful developer and marketer of beauty and cosmetic products,\" stated Carl J. Johnson, President and Chief Executive of Entia.  “We are confident that they will generate significant success with the GROH brand and look forward to the additional resources that this license will provide to us.  This is an alternative but superior approach for Entia to the beauty care market and will better contribute to building value for our shareholders than the Company's previous efforts in this area.\"  Entia’s 2014 entry into the beauty care market did not achieve the success for which the then management had hoped.  Entia's new management has determined that beauty care is not an appropriate area of strategic focus for the Company, planning instead upon developing and profitably marketing clinically-proven health care products that are based upon the Company's novel and proprietary ErgoD2 technology in the nutritional supplement and/or medical food categories.  The Company is taking aggressive yet carefully planned steps toward that end.  Dr. Marvin Hausman, Chief Science & Technology Officer, indicated that Entia plans to introduce its first healthcare product before mid-2017.  The product will likely be introduced as a kidney health supplement.  Kidney health is a growing concern in the U.S. and around the world.  \"The Company's research studies among individuals with compromised kidney function have been quite enco...