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BTG Cosmetics Inc. announced that its board of directors has approved changing the corporate name to Biopharmetics Inc., effective Feb. 1, 2006, according to a report by Market Wire. The board noted that the new strategy it is implementing focuses on capitalizing on the emerging markets in biotechnology and pharmaceuticals. The company reportedluy will continue to develop cosmetics and cosmeceuticals.
BTG Cosmetics Inc. Chief Executive Officer (CEO), Paul D. Lisenby, said the company’s new name will reflect the opportunities that have materialized for the company over the past three months. The company says it has been approached by biotech companies to manufacture, license and distribute cosmeceutical products.