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Klox Technologies Inc.

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Klox Technologies and LEO Pharma set up company for BioPhotonic in dermatology

LAVAL, Quebec and BALLERUP, Denmark, 2017-03-06 16:49 CET (GLOBE NEWSWIRE) -- --Klox Technologies Inc.(‘Klox’) and LEO Pharma A/S (‘LEO Pharma’) 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”, Baudry continued.

Mr. 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 Kleresca® 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.

About Klox Technologies Inc.

Klox is a specialty pharmaceutical company focused on developing and commercializing products based on its proprietary BioPhotonic technology platform to address skin and soft tissue disorders. Klox is advancing its programs as part of its multiple franchises focusing on indications across Dermatology, Wound Care, and Oral Health. For more information please visitwww.kloxtechnologies.com

About LEO Pharma A/S

LEO Pharma helps people achieve healthy skin. By offering care solutions to patients in more than 100 countries globally, LEO Pharma supports people in managing their skin conditions. Founded in 1908 and owned by the LEO Foundation, the healthcare company has devoted decades of research and development to delivering products and solutions to people with skin conditions. LEO Pharma is headquartered in Denmark and employs around 5,000 people worldwide.

For more information, visitwww.leo-pharma.comandwww.kleresca.com
Subscribe to our YouTube channel:www.youtube.com/leopharmaglobal
Follow us on Twitter:www.twitter.com/leohealthyskin
Visit us at LinkedIn:www.linkedin.com/company/leo-pharma

Contact

Klox Technologies Inc.
Carlo Bellini
ir@kloxtechnologies.com
+1 (450) 232-2230

LEO Pharma A/S
Henrik Heskjaer Kyndlev
Henrik.kyndlev@leo-pharma.com
(+45) 3140 6180

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