updated 6/6/2011 11:46:18 AM ET 2011-06-06T15:46:18

TEL AVIV, June 6, 2011 (GLOBE NEWSWIRE) -- mBeach Software Inc. ("MBHS") (OTCBB:MBHS), the holding company for Skin Cancer Scanning Ltd. (SCS), announced today that on May 31, 2011 it entered into a binding Memorandum of Understanding (MOU) to acquire 51% of Pomega, Inc., a cosmeceutical and nutraceutical company specializing in therapeutic skin care made with proprietary Omega 5 oil technology and knowhow and sold under the Pomega5® brand. Capitalizing on the synergies between these companies, the contemplated acquisition will position MBHS as a leader in diagnostic skin health systems and topical aesthetic applications.

Under the MOU, MBHS will acquire 51% of Pomega, partly by investing no less than $2.550 million in Pomega and partly by issuing new MBHS shares to Pomega shareholders in exchange for a portion of their shares in Pomega. The MOU is contingent upon funding, limited in time and is subject to a definitive agreement.

The de-facto merger, when concluded, will allow the group to conduct clinical trials in the area of Omega 5 CLA (sourced from pomegranate seed oil) and develop products for the aesthetic medicine industry, which currently has no ultra-green only botanical-sourced skin care lines. Pomegranate seed oil contains up to 80% punicic acid and has been reported to possess medicinal properties including anti-carcinogenic activity against breast cancer and skin cancer. Other benefits of pomegranate seed oil have been reported to act in the areas of immune function, cancer prevention and therapy, cardiovascular health, skin health, and healthy lipid metabolism.

MBHS's CEO, Mr. Joseph Biderman, Col (ret.) stated, "We feel that the acquisition of a controlling interest in Pomega will greatly increase shareholder value. We believe Pomega is a very exciting company with strong potential to succeed in the global market for advanced skin care technologies and wellness, and we expect the merger to bring together complementary visions about innovation, efficiency, and accountability to the skin treatment industry."

"Pomega is committed to exploring new ways to extend targeted, efficacious skin care formulations to various market segments," said Pomega's CEO, Mrs. Tzeira Sofer. "We anticipate that this acquisition will bring new botanical healing solutions to skin ailments by combining SCS's research capabilities with Pomega's market ready products. We look forward to working together to continue to improve and grow both companies."

About SCS

Skin Cancer Scanning Ltd. (SCS) is a medical device company pioneering the development and commercialization of a revolutionary and proprietary imaging system for the early detection and diagnosis of skin cancer.

Our product, SkinScan 650, is a non-invasive, point-of-care (in the doctor's office) system to detect and identify different kinds of skin nevi, tumors, lesions and cancers. SkinScan 650 enables physicians to diagnose skin cancer at an earlier, more curable stage. This will reduce the number of biopsies, lower treatment costs, and improve quality of life.

For more information on SCS, visit www.scs-med.com .

About Pomega

Pomega, based in California, has emerged as a worldwide pioneer in developing the only line of skin care / skin rejuvenation products based on the therapeutic efficacy of pomegranate seed oil. The Pomega5® brand is an award-winning line, created by Tzeira Sofer, the company's CEO and President, and formulated to reflect a balanced combination of essential fatty acids, botanical extracts and essential oils – completely without the use of any parabens, petrochemicals, fillers, or synthetics. The line has been featured repeatedly in leading health, beauty, and dermatology magazines, and caters to all age groups and skin types. Pomega's products are now available at select spas, as well as at health/wellness stores nationwide, and select online retailers.

For more information on Pomega, visit www.pomega5.com

Forward-Looking Statements

This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of SCS' or Pomega's products, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.

CONTACT: Mr. Joseph Biderman, CEO
         Email: ybiderman@scs-med.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.97%
$30K home equity loan FICO 5.23%
$75K home equity loan FICO 4.67%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.28%
13.21%
Cash Back Cards 17.74%
17.70%
Rewards Cards 17.01%
16.96%
Source: Bankrate.com