Cellmid launches hair care products in Australia
Cellmid Limited (ASX:CDY) has launched its evolis® range of professional anti-aging hair care products.
The biotechnology company operates across life sciences and also develops and markets innovative novel therapies and diagnostic tests for fibrotic diseases, cancer ischemic diseases of the heart and hair loss.
Cellmid generates millions of dollars of revenue through its hair loss business, known as Advangen and holds the most comprehensive portfolio of intellectual property for FGF-5, selling its FGF-5 inhibitor hair growth products in Australia and Japan.
The Australian launch of its hair care products is an important step in Cellmid’s strategic plan to fully exploit the benefits of its FGF-5 technology to the broader market and prepare for evolis branded products internationally.
Cellmid will use the knowledge gained from their Australian launch to enter major markets including the US.
The launch has been 12 months in the making, including planning, product development and manufacturing through the Advangen subsidiary.
The hair loss product is designed to prevent hair loss and increase hair growth, as well as maximise scalp health and hair condition. In Australia the evolis products will be made available to salons.
Sales will commence in NSW, eventually targeting 400 salon customers during the test period.
Revenues are expected to increase gradually as Cellmid rolls out its evolis range nationally.
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