NEXGEL (NASDAQ:NXGL) announced that its CG Converting and Packaging subsidiary has executed a supply agreement with biopharmaceutical giant AbbVie Inc. to be a supplier of gel pads to be used with AbbVie's Rapid Acoustic Pulse device being investigated for improvement in the appearance of cellulite.
The provider of high-water-content hydrogel products said by leveraging its proprietary hydrogel technology, the gel pads will be an important component of the body contouring device.
"We are honored and excited that a company of AbbVie’s stature and reputation has selected our gel pad for use with their product," NEXGEL (NASDAQ:NXGL) CEO Adam Levy said in a statement.
NEXGEL is a leading provider of ultra-gentle, high-water-content hydrogels for healthcare and consumer applications.
Contact Sean at sean@proactiveinvestors.com