Living Proof is branching out into the dermatological skin care market this spring with a product its CEO said has the potential to be “bigger than Botox.”

The Cambridge, Mass.-based problem/solution hair care company, best known for its innovations in fighting frizz (No Frizz) and creating volume (Full), has entered into a global venture with Valeant Pharmaceuticals International to develop and sell dermatologist grade products in the medical sector via Valeant’s existing distribution base.

Its first product for consumers via doctor’s offices will target the under-eye area, specifically puffiness and dark circles. CEO Jill Beraud said the product is a “game changer” and aims to be to under-eye puffiness what Latisse is to wimpy eyelashes and Botox is to wrinkles.

The cash value of the deal exceeds $75 million, which is what Valeant paid for the rights to distribute the products using the cross-linking polymer film, Strateris, as well as 60 percent of profits.

Living Proof’s proprietary technology was designed to reshape the appearance of skin and was invented by an interdisciplinary team of researchers and clinicians at Living Proof, led by Dr. Bob Langer, award-winning MIT Institute Professor; Dr Betty Yu, an expert in trans-dermal drug delivery; and world-renowned dermatologists, Dr. Rox Anderson of Harvard University and Dr. Barbara Gilchrest of Boston University.

Funded by Polaris Partners, the technology has been in development for almost 10 years and has been tested on more than 600 women.

“This first application of Strateris technology was developed to address the effects of aging on the appearance of the face, notably to reduce the appearance of under-eye bags and smooth wrinkles caused by lax skin within one hour of application,” the company said.

While Living Proof will be the brand on Strateris products, a sub-brand is in the works for the under-eye item, and will be announced at the end of January, Jill said.

The firm is not yet announcing marketing plans but will “leverage the strong enthusiasm from the medical community as to how unique this is and how it solves a problem,” Jill said, adding that Jennifer Aniston, a co-owner of Living Proof, will not help hawk Strateris as she is “strictly a hair care spokesperson” for Living Proof.

Jill has tried the new under-eye product but said she doesn’t really suffer from bags or puffiness.

“I have other issues,” she joked, adding, “I have of course tried it but everybody who tries it wants to pour it on their body. [Under-eye puffiness] is a very, very big market and what we’re hearing from dermatologists and plastic surgeons is that there isn’t a good solution for this issue. What’s so exciting about Strateris is that it is immediate in results and consumers can apply it themselves every day.”

The technology can go beyond the face, Jill explained, to address a multitude of skin issues.

“This is the next phase in making Living Proof a total beauty company. We had a great year. We more than doubled our [retail] business. My mission has been to elevate the profile of the company’s innovation, expand our presence on a global level and become one the largest independently owned beauty companies.”

In late September 2013, the company also announced it had received a patent on a hair color technology. Jill said the company is still evaluating whether Living Proof will go to market with the technology itself or partner with another company in its distribution.

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