Corporate Banner
Satellite Banner
Molecular & Clinical Diagnostics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Sydney Based Cellmid Acquires Japanese Advangen

Published: Thursday, May 09, 2013
Last Updated: Thursday, May 09, 2013
Bookmark and Share
Strategic acquisition of Japanese healthcare company boosts Cellmid’s cashflow potential.

Cellmid Limited announced that it will acquire Advangen Inc., Japan (Advangen), the Company that owns the FGF-5 inhibitor hair growth technology. Cellmid already markets the successful évolis® hair product range, which was originally derived from this technology, outside of Japan on behalf of Advangen. This is a highly strategic acquisition that will significantly increase Cellmid’s revenues in the short to medium term.

Under the terms of the agreement Cellmid will acquire 100% of the shares of Advangen in a deal involving the payment of JPY120M (AU$1.2M) in cash and the issuing of 55,737,624 shares at a nominal issue price of 5 cents each. All of the shares will be subject to voluntary escrow agreements for up to 12 months.

The deal gives Cellmid full ownership of the FGF-5 inhibitor technology platform, which underpins the Company’s existing successful évolis® hair product range and is the basis of other Advangen Inc. brands generating solid revenues in Japan. The acquisition also has important strategic benefits for Cellmid, which will gain immediate access to the established Japanese hair growth market. New market opportunities will also be pursued including China where import permits are already in place for the Lexilis® and Jo-Ju® branded products.

One of the institutional investors participating in the deal is the Tokyo based venture capitalist, Biotech Healthcare Limited Partners. Director, Dr Takeo Matsumoto, welcomed the deal and said:

“We have been very impressed by Cellmid’s progress with évolis® on the Australian market and are happy to be invested in Cellmid shares.”

Cellmid CEO, Maria Halasz, commented:

“This is a game changing deal. Our objective is to establish Cellmid as a global leader in scientifically and clinically validated hair growth technology. We plan on generating substantial revenues in the next three to five years.”

The market for hair loss products is US$1-2 billion annually in the USA alone, affecting 52 million patients (US Department of Health and Human Services, 2009). The global market is estimated to be several times this amount. There is an outstanding potential for Cellmid’s clinically proven FGF-5 inhibitor product range to gain a significant share of this market.


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
The Changing Tides of the In Vitro Diagnostics Market
With the increasing focus in personalized medicine, diagnostics plays a crucial role in patient monitoring.
Poor Survival Rates in Leukemia Linked to Persistent Genetic Mutations
For patients with an often-deadly form of leukemia, new research suggests that lingering cancer-related mutations – detected after initial treatment with chemotherapy – are associated with an increased risk of relapse and poor survival.
'Fountain of Youth' Protein Points to Possible Human Health Benefit
Patients with higher blood levels of growth factor have lower risk of cardiovascular problems.
Signature of Microbiomes Linked to Schizophrenia
Studying microbiomes in throat may help identify causes and treatments of brain disorder.
Imaging Software Could Speed Breast Cancer Diagnosis
Technology could improve access to diagnostic services in developing countries.
Data Mining DNA For Polycystic Ovary Syndrome Genes
A new Northwestern Medicine genome-wide association study of PCOS – the first of its kind to focus on women of European ancestry – has provided important new insights into the underlying biology of the disorder.
Algorithm Interprets Breathing Difficulties to Aid in Medical Care
Researchers from North Carolina State University have developed an efficient algorithm that can interpret the wheezing of patients with breathing difficulties to give medical providers information about what’s happening in the lungs.
Researchers Develop qPCR Prognosis Test for NSCLC Patients
A nine-gene molecular prognostic index (MPI) for patients with early-stage non-small cell lung cancer (NSCLC) was able to provide accurate survival stratification and could potentially inform the use of adjuvant therapy in patients struggling with the disease.
Genetic Test Could Improve Blood Cancer Treatment
Testing for genetic risk factors could improve treatment for myeloma – a cancer of the blood and bone marrow – by helping doctors identify patients at risk of developing more aggressive disease.
PTR-MS Breath Test Shows Potential for Detecting Liver Disease
Researchers at the University of Birmingham have published results that suggest a non-invasive breath test for liver disease using an IONICON PTR-MS.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!