Profile: IGI Laboratories Inc. (IG)

IGI Laboratories, Inc. (IGI) is principally engaged in the development, manufacturing, filling and packaging of topical, semi solid and liquid products for pharmaceutical, cosmeceutical and cosmetic companies. The primary focus of the business is on the commercialization of its licensed Novasome encapsulation technology for skin care/treatment products. The Company licenses the Novasome encapsulation technology from Novavax, Inc. for the applications include animal pharmaceuticals, biologicals and other animal health products; foods, food applications, nutrients and flavorings; cosmetics, consumer products and dermatological over-the-counter and prescription products (excluding certain topically delivered hormones); fragrances, and chemicals, including herbicides, insecticides, pesticides, paints and coatings, photographic chemicals and other specialty chemicals, and the processes for making the same (collectively, the IGI Field).

The Company’s manufacturing operations include compounding, filling and packaging of Novasome based products, as well as conventional dermatological, cosmeceutical and cosmetic cream and lotion products. During the year ended December 31, 2008, the Company had sales to four customers, which individually accounted for more than 10% of the Company’s product sales.