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Princeton,
NJ (November 15, 2002) -- Procter & Gamble (NYSE: PG)
is donating all the patents and intellectual property relating
to its proprietary NAC Depilatory Technology to TRI/Princeton,
an independent, non-profit research institute. NAC Depilatory
Technology holds promise for becoming the first-ever; leave-on
depilatory that can eliminate unwanted 'peach fuzz' facial
hair.
As the
sole new owner of the technology, TRI/Princeton will benefit
from all future revenues of the technology and will retain
all future rights to the technology, which includes 41 active
and pending patents and all accompanying intellectual property.
NAC is
so gentle to the skin that skin care products containing the
depilatory could be applied and left on indefinitely. Other
depilatories must be removed shortly after application or
risk potentially serious skin irritation. This characteristic
means NAC could be incorporated into products like facial
moisturizers that consumers already use, eliminating the need
for a separate product and reducing the time and steps for
consumers.
With further
development work and successful commercialization, it is estimated
that skin care products containing NAC technology could generate
annual sales exceeding $1 billion for the industry.
"We are
thrilled that TRI/Princeton will be able to continue the development
of this promising technology," said Greg Hillebrand, P&G Principal
Scientist. "TRI/Princeton is uniquely qualified to bring the
technology forward because of their depth of expertise in
the science of human hair and depilatory research."
In addition
to its technical expertise, TRI/Princeton is well poised to
bring the technology to market, as they already have strong
ties to corporate sponsors. TRI/Princeton focuses on advanced
research and education in polymers, fibers, films, human hair,
and porous materials.
TRI/Princeton
has a long-standing association with Procter & Gamble. "We
are very pleased that Procter & Gamble has recognized TRI/Princeton's
track record in corporate research and product development,"
said Dr. Gail Eaton, President of TRI/Princeton. "We look
forward to further developing NAC Depilatory Technology, and
ultimately taking it to market."
NAC
Depilatory Technology
NAC
Depilatory Technology arose from P&G's substantial commitment
to skin care research. The company is currently focusing its
skin care R&D on other promising technologies outside of hair
removal, but didn't want NAC to sit on the shelf. By donating
the technology to TRI/Princeton, the company helps ensure
NAC's depilatory benefits are further developed and eventually
commercialized.
P&G is
not able to devote resources to commercialize all of its more
than 27,000 patents. P&G licenses many technologies and donates
other select technologies that are not essential to current
product development activities and that can be best developed
elsewhere. P&G is granted more than one patent per day.
About
TRI/Princeton
TRI/Princeton,
founded in 1930 as the Textile Research Institute, is an independent,
nonprofit organization that serves clients in industry, government,
and academia throughout the United States and abroad. The
Institute provides members with advanced research and education
in human hair, fibers, nanotechnology, biotechnology, polymers,
and porous materials.
About
Procter & Gamble (P&G)
P&G
markets 250 brands to five billion consumers in 130 countries.
P&G invests nearly $2 billion a year to develop and improve
its products -- leading the way in R&D globally among consumer
products companies. P&G's Global Licensing and External Business
Development Unit is charged with ensuring the company maximizes
the value of its "treasure trove" of technologies by selling,
licensing and, in some cases, donating these technologies.
The unit is also responsible for licensing select P&G brand
trademarks.
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