Phylogica inks cosmetics licensing deal

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Peptide drug discovery company Phylogica Limited (ASX:PYC) has licensed one of its products to luxury cosmetics company, Le metier de Beaute. 
Phylogica’s skin-repair peptite PYC35 will be licensed for use in cosmetic products including anti-aging creams in the US, UK and Hong Kong markets. 
Phylogica says it will receive a significant royalty on all sales of the cosmetic products that contain its PYC35 peptite. 
Le metier says it is excited about the license as it will assist in meeting demand for products preventing scars and repairing skin. 
Phylogica says the non-exclusive cosmetics deal opens up a new market opportunity and could generate meaningful near term revenue. 
Phylogica has also today said it expects to announce new alliances in the coming months relating to its core drug discovery. 
Phylogica reported a net loss of $3.9 million in the 2012 financial year.