Antaria strikes $2.4m licensing deal

Bentley-based Antaria has executed an exclusive $2.4 million licensing deal with a German pharmaceuticals company for the worldwide distribution of a technology used in cosmetics and industrial products.

The announcement is below:

Antaria Limited (Antaria) today announced it had executed a licensing agreement with the global pharmaceuticals and chemicals group Merck KGaA (Merck) of Darmstadt, Germany, for the exclusive worldwide rights to Antaria's plate-like alumina technology for use in Merck's cosmetics and industrial products.

This technology is employed in Antaria's soft focus cosmetics pigment, Alusion®, and also the AlPearl™ pearlescent paint pigment substrate. Under the agreement, Merck has exclusive rights to manufacture and sell products using this technology in cosmetics, coatings, printings, plastics and/or decorative applications.

The agreement provides for Antaria to receive an upfront payment of Euro 1.3 million in two installments over the first year of the license and an additional ongoing royalty on Merck's sale of products incorporating this technology.

During the initial period of the license, Antaria will toll manufacture Alusion® and other products for Merck and also provide contract research and development on a fee-for-service basis.

Bruce Cameron, Executive Chairman of Antaria stated "We are delighted to partner with such an outstanding company as Merck, and their decision to invest in this technology demonstrates the quality of the creative ideas that Antaria can deliver. Merck's internationally recognised expertise in alumina based pearlescent pigments combined with their market dominance should secure worldwide recognition for Antaria's unique plate-like alumina technology."