LOS ANGELES, CA--(Marketwire - Jan 10, 2013) - Hanover Portfolio Acquisitions (OTCQB: HVPA) and its wholly owned subsidiary IP Resources International, an intellectual property licensing and commercialization company, announced today that it has concluded an international commercialization and licensing agreement with Personal Cell Sciences Corp., the developer of U Autologous™, a skin care suite that uses a person's own stem cells to create "the world's first skin care line designed and created especially for you."
IP Resources has participated in the development of an exclusive license between Personal Cell Sciences and BALS Holdings Limited for the commercialization and distribution of Personal Cell Sciences' U Autologous™ skin care line in Hong Kong and Macau. As a result of the transaction, IP Resources is to receive royalty revenues from the distributor's future sales of U Autologous™ products in Hong Kong and Macau.
U Autologous™ is a cutting-edge innovative personalized anti-aging skin care line developed by Personal Cell Sciences Corp. The proprietary ingredient Autokine-CM™ is created through a manufacturing and processing collaboration with American CryoStem Corporation. To create the U-Autologous™ product, Adipose Tissue (fat) is collected from the customer using American CryoStem's proprietary, CELLECT™ adipose tissue collection system and processed at American CryoStem's laboratory to create the individual's unique Autokine-CM™. Personal Cell Sciences and U Autologous™ Skin Care were listed on the Forbes Top 10 Fashion and Beauty Startups for 2012 and as the "Biggest Beauty Breakthrough of 2012" by Glamour.com
Hong Kong and Macau are special administrative regions of the People's Republic of China. According to MarketLine, the Asia-Pacific skincare market had total revenues of $41.9 billion in 2011, representing a compound annual growth rate (CAGR) of 4.6% between 2007 and 2011. Market growth is expected to accelerate and to reach $57.8 billion by 2016.
"With Hong Kong and Macau being major luxury shopping destinations for mainland China, one of the largest and fastest growing skin care markets in the world, we believe Personal Cell Sciences' personalized skin care line will gain traction in this thriving market," stated Alan Collier, CEO and Chairman of Hanover Portfolio Acquisitions and IP Resources International. "This licensing transaction is an important milestone and example of IP Resources' ability to execute on its core business of commercializing and monetizing innovative technologies through joint ventures and international licensing agreements."
American CryoStem Corporation is a leading biotech company focused on marketing its clinical processing services and patented products for adipose (fat) tissue and adipose derived adult stem cells. Our clinical tissue processing, patented cell culture media products and tissue storage platform supports cosmetic and regenerative medicine applications being developed globally. The Company provides high quality, clinically processed viable cells, while at the same time developing cutting edge applications, therapies, patented laboratory products and services for consumer and commercial applications.
About Hanover Portfolio Acquisitions & IP Resources International
Hanover Portfolio Acquisitions, through its wholly owned subsidiary, IP Resources International, is an intellectual property management firm that specializes in the commercialization of compelling technologies through joint ventures and international licensing. The Company specializes in the commercialization of technologies within the healthcare, energy, consumer electronics, and internet industries.
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