BUENA, NJ August 16, 2007 - IGI, INC. (AMEX: IG) announces that it has signed an exclusive Manufacturing and Supply Agreement with Complexions by Dr. Watts Skin and Beauty Care Products, LLC. IGI developed a line of 9 Skin Care products for Dr. Watts using the Novasome® encapsulation technology. Dr. David Watts is a prominent plastic surgeon in New Jersey and his company, Complexions, has retained the services of a renowned marketing company to retail these products through direct sales channels.
"Complexions by Dr. Watts skin care line was created to fill a void that existed in the world of Plastic Surgery. Many Dermatologic lines are on the market, however, a skin care line specifically designed from a Plastic Surgery perspective is virtually non-existent. Working with the knowledgeable scientists at IGI we were able to create a revolutionary line using the NovasomeŽ Technology to prolong or prevent the need for Plastic Surgery as well as maintain the surgical result achieved once a Plastic Surgical procedure has been completed", stated Dr. Watts.
IGI will manufacture and supply finished packaged units of these products to Complexions in the 4th quarter of this calendar year for their January 2008 launch.
"This is in line with our business strategy of providing turn-key solutions to our customers starting from product development to providing commercial product. Partnering early in the product development stage and working together through product launches, establishes a solid long lasting relationship with our customers", stated Rajiv Mathur, President and CEO of IGI, Inc.
This report contains forward-looking statements relating to IGI's hopes and expectations for the future. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "will," "possible," "one time," "provides an opportunity," "continue" and similar expressions are intended to identify forward-looking statements. Such statements involve a number of risks and uncertainties and actual future events and results could differ materially from those indicated by such forward-looking statements due to general economic conditions, and the risk factors detailed in IGI's periodic reports and registration statements filed with the Securities and Exchange Commission.
Contact:
Rajiv Mathur President & Chief Executive Officer IGI, Inc. 856-697-1441 ext. 211 www.askigi.com