Klox Technologies, LEO Pharma to establish Biophotonic dermatology company
Wednesday, March 8, 2017
Klox Technologies and LEO Pharma plan to establish a jointly owned company to further develop and commercialize Klox’s BioPhotonic technology in dermatology including Kleresca for acne and Kleresca for skin rejuvenation. Both companies bring in their contributions from their existing collaboration which started in 2014.
The Kleresca treatment for acne and the Kleresca treatment for skin rejuvenation combines a topical photo converter in conjunction with a multi-LED light to create hyper-pulsed multi-wavelength fluorescent light, resulting in photobiomodulation within the skin. It is based on Klox’s patented BioPhotonic technology platform in dermatology and is currently offered exclusively in professional clinics.
“We have now successfully introduced the BioPhotonic technology under the Kleresca brand in seven countries and have seen a strong interest from the market. We now want to further expand the offering and its geographical footprint,” said Dr. Patrice Baudry, LEO Pharma’s senior vice president, Global Strategy and Portfolio Management. “Creating a standalone company with the backing of Klox and LEO Pharma will allow for greater strategic expansion and accelerate growth.”
Mariano Rodriguez, chief operating officer and chief financial officer of Klox Technologies, stated, “This pivotal next step in Klox’s collaboration with LEO Pharma will bring our BioPhotonic technology in dermatology to new heights. We have made great progress throughout our initial partnership, and establishing a separate company was the natural next step. We are delighted to continue our collaboration with LEO Pharma through this new venture and look forward to accelerating market expansion.”
The new venture will be an independently managed company, led by Mr. Mikkel Schoedt, who previously oversaw the Kleresc Business Unit at LEO Pharma. To ensure a smooth transition and to continue delivering quality service to its customers, the Kleresca team at LEO Pharma will transfer to the new company, and LEO Pharma will for the time being, continue to be responsible for production and support. Further details of the agreement were not disclosed.