PanaceaNano Inc., the US-based company pioneering nanotechnology solutions, has successfully achieved high-volume production capability of its patented Organic Nano-Cube (ONC) materials. ONC-based anti-aging skin formulations has between 8-12 times longer duration of anti-aging benefit with continuous and steady efficacy, making it far superior to comparable products in the market today.
ONC nano-materials are produced based on the molecular engineering technology developed by Sir Fraser Stoddart, founder and CTO of PanaceaNano; the technology won the 2016 Nobel Prize for its revolutionary capabilities.
ONC molecules which measure three nanometres are made of organic, renewable and edible materials and display extraordinary properties such as functioning as controllable nano reservoirs that can be used to store and release various ingredients of critical importance. Applications for ONC nano materials are wide reaching from the medical, food and agriculture, to the cosmetics industries due to its composition and properties. To put things into perspective, the width of a human hair is about 100,000 nanometres.
PanaceaNano used its patented ONC technology to formulate, develop and manufacture a new product line of highly-effective anti-aging skin care solution. Dr. Youssry Botros, CEO and co-founder of PanaceaNano, stated “we are proud to announce achieving high-volume production capacity of the ONC nano-materials after overcoming several technical challenges, starting from the fundamental scientific breakthroughs at Sir Fraser’s labs until reaching sophisticated and highly-effective anti-aging skin care formulations infused into our ONC nano-materials.”
Dr. Botros added: “Thanks to the ONC technology, PanaceaNano has demonstrated through extensive lab testing that the ONC-based anti-aging skin formulations has between 8-12 times longer duration of anti-aging benefit with continuous and steady efficacy, making it far superior to comparable products in the market today.”
The global anti-aging skin care market is forecasted to reach AED 495 billion (US$135 billion) as early as 2021 with annual growth rate close to 20% while the Middle East and Africa (MEA) is the world’s fastest growing cosmetics market at an annual rate of 6.4% for the next five years. At present, the MEA beauty market is valued at AED 93.2 billion (U$ 25.4 billion).
However, for the next five years’ consumers in the UAE are expected to be the highest per capita spenders on beauty products, while the sector is expected to grow at a CAGR of 5.8% annually during the same period. Consumers in the UAE spent AED 7.7 billion in 2016 on cosmetics.
“We decided to start with UAE as our first station of marketing activity outside the US as we believe cosmetic consumers in the UAE are savvy and high-tech. We also think of the UAE as a regional gateway to the Middle East and Africa cosmetics markets,” commented Dr. Botros on the company’s plan to visit the UAE.
PanaceaNano is planning to hold a technology update and products awareness event in Dubai in the first week of December.