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IGI, Inc. Signs Five Year Manufacturing Service Agreement With Plastic Surgery Innovations, Inc.

Posted on: Monday, 11 July 2005, 15:01 CDT

IGI, Inc. (AMEX:IG) announced today that they signed a Manufacturing Services Agreement with Plastic Surgery Innovations, Inc. The agreement calls for IGI to be the exclusive manufacturer for a complete line of skin care products using the Novasome(R) trans-dermal delivery technology for a fourth quarter launch in 2005.

As President of Plastic Surgery Innovations, Mark A. Pinsky, M.D., P.A. is an accomplished board certified plastic surgeon whose expertise includes facial cosmetic surgery. Aside from his busy private practice in West Palm Beach, he works with the FDA as a clinical investigator for proposed dermatologic products and those used in conjunction with cosmetic surgery (Juvederm and Hylaronic Acid among others) prior to their introduction to the U.S. market. Dr. Pinsky is an active member of the prestigious Inamed Facial Academy whose purpose is to educate plastic surgeons on the latest techniques and innovative products in facial aesthetics.

Dr. Pinsky's knowledge, skill and experience have given him unique insight into the dynamics of facial aging. As a result, he has developed a "medical grade" collection of skin care products that replace hype with science regarding appearance and anatomical composition. According to Dr. Pinsky, "These products will be the most sophisticated formulations developed to date, working at creating beautiful skin at both the intracellular and extra cellular level."

IGI is a company committed to growth by applying proprietary technologies to achieve cost-effective solutions for varied customer needs. IGI offers the patented Novasome(R) nano-vesicular, transdermal delivery technology which contributes value-added qualities to cosmetics, skin care products, dermatological formulations and other consumer products, providing improved dermal absorption, controlled and sustained release as well as improved stability and greater ease of formulation. IGI has licensed Novasome(R) nano-vesicular delivery technology to leading global dermatological and skin care companies including Johnson & Johnson Consumer Products, Inc., Estee Lauder Corporation, Chattem Inc., Genesis Pharmaceutical, Inc. and Apollo Pharmaceutical, Inc., and recently sub-licensed the rights to obtain FDA approval for and market IGI's PTH (1-34) compound using Novasome(R) nano-vesicular delivery technology for psoriasis, which is slated for Phase II clinical trials, to Manhattan Pharmaceuticals, Inc. IGI is also exploring the licensing of the topical PTH (7-34) compound for the prevention/treatment of chemotherapy induced-alopecia in patients undergoing chemotherapy.

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.

Source: Business Wire

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