Oxygen nixes deal with Swiss firm
Morrisville drug and cosmetics manufacturer Oxygen Biotherapeutics killed a deal it had with Dermacyte Switzerland, Ltd. because Oxygen says the latter company did not buy enough of Oxygen’s cosmetic Dermacyte product, an oxygen carrier skin care product.
In a Dec. 15, 2010 deal, DSL agreed to buy 40,000 units by the end of 2011. It apparently missed that mark, and Oxygen (Nasdaq: OXBT) terminated both Dermacyte Switzerland Ltd. and Comercial Uni2, SA de C.V for breaching the contract. The deal with Comercial Uni2, SA de C.V was effective Feb. 28, 2011, though details about that deal were not immediately available.
In a news release, however, Oxygen President Michael Jebsen said the company was looking to bolster its U.S. markets, particularly in North Carolina and South Florida.






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