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.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.