Full Press Release Details
E-mail: investors@nexgel.com
NEXGEL, Inc. Announces the Acquisition
Sport Defense LLC Product Line
PA - NEXGEL, Inc. ("NEXGEL") announces the acquisition of Sport Defense LLC's ("Sport
Defense") line of products. This strategic acquisition allows NEXGEL to vertically integrate and build out its portfolio
of branded consumer products.
Sport Defense is a marketing and distribution
company that leverages the unique benefits of ultra-gentle, high-water content hydrogels, manufactured by NEXGEL, to build brands
that treat various ailments of the skin caused by athletic training, such as blisters, turf burns, scrapes and skin irritations.
Sport Defense has been successful in building niche brands to serve a myriad of challenges, their brands include:
Sport Defense works to address under-served
opportunities in the market with FDA approved therapeutic products, previously reserved for the professional wound care market
and applies them to the consumer sport market.
Sport Defense first achieved success with
Dancer Dots, a brand designed for point ballet dancers around the world. The company partnered with Gaynor Minden, a world-renowned
leader in ballet shoes, to deliver relief and protection to dancer's who often have major issues with foot sores and blisters
from their rigorous training and performances.
"Sport Defense's proven model
of applying medical technology to the sports market fits perfectly with NEXGEL's vision of using many of the same medical
technologies for beauty and cosmetics, podiatry and OTC remedies," stated NEXGEL CEO, Adam Levy. This transaction has been
approved by NEXGEL's Board of Directors and is scheduled to close on Friday, May 29th 2020. The terms of the transaction
NEXGEL has been a leading provider of ultra-gentle, high-water
content hydrogels to leading medical companies around the world. Based in Langhorne, Pennsylvania, we've been developing
and manufacturing electron-beam cross-linked hydrogels for over 23 years. In that time, our team has formulated over 200 different
combinations to bring some of the best OTC, cosmetic, and natural ingredients to the skin in a gentle patch that can be worn for
long periods of time with little to no irritation. NEXGEL, Your Skin Friendly Patch Co.
Forward Looking Statements
This press release contains certain
forward-looking statements, including those relating to the Company's product development, market opportunity, competitive
position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements
that are predictive in nature. Additional written and oral forward-looking statements may be made by the Company from time
to time in filings with the Securities and Exchange