Balm Innovations of Little Rock, parent company of Omnibalm skin cream products, has received a $100,000 Seed Capital Investment Program (SCIP) grant from the Arkansas Science & Technology Authority to help launch a new product, to be announced, and expand its current distribution into new markets.
The new cream is expected to join Omnibalm Daily Foot Therapy, a cream for general and diabetic foot care, as early as the first quarter of 2009.
"The support of organizations like the Arkansas Science & Technology Authority have helped us develop new formulas to enhance our already highly effective products and make them more widely available to Arkansans and those beyond our state borders," said Lydia Carson, president and CEO of Balm Innovations.
Balm Innovations launched Omnibalm Daily Foot Therapy in June 2008 in USA Drug stores. In less than a year, the product has expanded into more than 110 stores throughout the South and received national recognition as a "Small Chain Niche Pick" and a "Key Special Niche Product" in the respected Chain Drug Review’s Second Annual Niche Products Report.
"Daily Foot Therapy continues to grow in popularity since becoming available last year," said Carson. "It has furthered our tradition of producing great results for customers, and we’re sure this financial vote of confidence will boost our new product to produce even more impressive results."
Balm Innovations is one of 17 UAMS BioVentures startups licensed to take UAMS’ inventions from the laboratory to the marketplace. For more information on Balm Innovations or Omnibalm creams, visit www.omnibalm.com or contact Lydia Carson at 1-888-577-6580.
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