Pittsburgh-based BIOSAFE Announces Strategic Partnership With Gelest
PITTSBURGH, Nov. 15, 2012 /PRNewswire/ -- Pittsburgh- based BIOSAFE, Inc. a supplier of a unique antimicrobial polymer technology, announced today that it has signed a strategic partnership agreement with Gelest, Inc. of Morrisville, Pennsylvania, who is recognized worldwide as an innovator, manufacturer and supplier of silane, metal-organic and silicone materials.
The deal includes a cash investment, along with certain manufacturing and support services. As part of the deal, Gelest, Inc. has an exclusive license of the BIOSAFE products for Skin Care and Cosmetic applications.
According to Max Fedor, BIOSAFE's CEO, "We have been working informally with Gelest for several years. This strategic deal formalizes our relationship, enabling us to scale our business more rapidly, while relying upon Gelest for high quality manufacturing and expertise in silane chemistry. Through this affiliation, BIOSAFE will be in a stronger position to support its customers and to formulate products that meet specific market needs and applications. BIOSAFE will continue to build its business development and corporate operations in Pittsburgh, Pennsylvania, currently at 2545 Penn Avenue."
BIOSAFE, Inc. is the developer of a patented, environmentally friendly antimicrobial polymer. The Company licenses its technology and supplies unique product formulations to leading consumer, medical and industrial products companies to protect against a wide range of microbes, including mold, mildew, bacteria, algae and viruses.
About the Pittsburgh Life Sciences Greenhouse (PLSG)
PLSG invests in and supports the growth of biosciences companies in western Pennsylvania. PLSG has a track record of excellence when it comes to attracting and growing life sciences companies in the region. Since its inception in 2002, the PLSG has invested $18.1 million in 73 companies which has leveraged $834million in additional capital to the region. The PLSG portfolio of companies represents an aggregate market valuation which the PLSG believes it conservatively estimates as over $1 billion. The PLSG has assisted 388 life sciences companies and has helped create or retain nearly 6,000 jobs in western Pennsylvania. In addition, 34 companies or venture capital firms have been provided with office or laboratory space and 13 have been relocated to Pittsburgh from outside of the region. www.plsg.com
SOURCE BIOSAFE, Inc.