Bothell biotech buys interest in skin care firm
Published 5:49 pm Thursday, July 8, 2010
Bothell-based Helix Bio- Medix Inc., a developer of bioactive peptides, today announced it has acquired 30 percent ownership interest in NuGlow Cosmaceuticals LLC. As part of the transaction, the companies have also entered into a three-year supply agreement in which Helix BioMedix will provide NuGlow with finished skin care products, including certain private label cosmeceutical, sun care and acne care products. NuGlow, which is based in Los Angeles, will place its first order by July 31. “We are pleased to announce our investment and supply agreement with NuGlow, which creates the opportunity to bring the next generation in advanced skin care technology products to consumers,” R. Stephen Beatty, president and chief executive officer of Helix BioMedix, said in a prepared statement.
First-time jobless aid requests decline
First-time requests for jobless aid dropped last week to their lowest level since early May, the government said Thursday, erasing increases made in the past two months. Still, economists say it’s hard to detect a trend in one week of declines. Initial claims have seesawed for several weeks and are not much lower than they were in January. Elevated unemployment claims, along with last month’s weak jobs report and a struggling housing market, have suggested that the recovery is slowing. “While the report is good news, it would need to be followed up by several more weeks to suggest a pickup in hiring,” Julia Coronado, an economist at BNP Paribas, said in a note to clients.
Tesla hires former Microsoft expert
Tesla Motors Inc. said Thursday it hired a former Microsoft and Apple real estate expert to help the maker of high-end electric cars expand its network of retail stores. George Blankenship, 57, joins Tesla as vice president of design and store development. Tesla recently raised $226 million in an initial public offering and started selling a new version of its Roadster sports car, which starts at $109,000. Blankenship’s work will become increasingly important as Tesla prepares to launch a second, more affordable electric car, the $57,000 Model S, in 2012. In 2009, Blankenship joined Microsoft Corp. as a consultant as the company drew up plans for its own network of retail shops to show off PC software, the Xbox 360 video game system and other Microsoft products.
Chrysler offers to pay first two months
Chrysler says it will make two months worth of payments on most new vehicles bought this month as the automaker tries to boost sales. Starting Thursday, the company is also allowing customers to return any new vehicle within 60 days if they’re not satisfied. Other July incentives include zero-percent financing on most Chrysler, Dodge, Ram and Jeep vehicles. Automakers have been trying to limit incentives, which erode profits and hurt brand image.
From Herald news services
