NEXGEL, Inc. Announces the Acquisition of the Sport Defense LLC Product Line
May 26th, 2020, NEXGEL Inc., announces the acquisition of all of the assets of Sport Defense LLC for an undisclosed amount. Sport Defense LLC, is a product development company that uses hydrogels (manufactured by NEXGEL) to treat various aliments of the skin caused by athletic training, such as blisters, turf burns, scrapes and skin irritations. Sport Defense’s products are redesigned or co-engineered from pre-existing medical technologies that address preventative and therapeutic treatments for a multitude of skin conditions, Sport Defense applies those medical advancements to address multiple athletic issues. Current products of Sport Defense LLC are:
- Dancer Dots/Dancer Dot Minis, developed for point ballet dancers
- Turfguard, addresses turf burn, made w/silver lined hydrogel
- Foot Defense, to reduce blistered feet (Q2 2020 launch)
- Nip Guard, to eliminate irritation for male distance runners
Sport Defense LLC looks to find opportunities, with FDA approved therapeutic products utilized in the wound care market, and applies them to the consumer OTC market for sport applications. f Sport Defense first achieved this with Dancer Dots. Point ballet dancers around the world have major issues with foot sores and blisters. Sport Defense partnered with a world-renowned leader in ballet shoes, Gaynor Minden and launched Dancer Dots in October, 2016.
“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” says NEXGEL CEO, Adam Levy. This transaction has been board approved and is scheduled to close on Wednesday May 27th 2020.
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