The consumer health segment generates revenue by selling anti-ageing functional cosmetics and consumer health products for hair, face and wellbeing.
The segment generated $5.64 million in revenue in FY2018 and as Cellmid expands its product range and selling markets, it is closing in on profitability.
Cellmid’s product range features évolis® and Fillerina®.
évolis® is a clinically validated, TGA listed portfolio of hair care treatment products specifically formulated as an anti-ageing hair solution.
The product range is sold across Australia, New Zealand, Japan, China and the US.
Fillerina® is the first non-injectable transdermal filler that has been clinically validated to reduce wrinkles and increase facial volume.
In April 2018, Cellmid entered into a distribution agreement for Fillerina to be sold in Australia and New Zealand through Labo International, a European cosmetics company.
At the end of August 2018, Cellmid commenced the instore launch of its anti-ageing hair care range, évolis® Professional in Neiman Marcus and Soft Surroundings stores across the US.
As part of the launch, a series of experiential marketing events will be held in flagship Neiman Marcus stores in Hawaii (Ala Moana), California (Fashion Island), Florida (Orlando) and Texas (Northpark and Houston).
Cellmid’s CEO Maria Halasz said: “Store presence is expected to increase sales significantly from what has been a very successful online launch of the évolis® Professional products in Neiman Marcus and Soft Surroundings.”
Monetising its pre-clinical therapeutic assets
Cellmid’s second business segment, pre-clinical therapeutic assets refers to its midkine (MK) portfolio.
The évolis® hair growth product range was developed using FGF5 related intellectual property.
Cellmid aims to follow in the footsteps of FGF5 by commercialising its MK portfolio through various deals and partnerships.
Two separate entities setup to make deal transactions easier
Lyramid Limited and Kinera Limited are Cellmid’s wholly-owned subsidiaries that own and develop MK related research and development programs.
Kinera holds MK protein for the treatment of heart failure, chronic heart conditions and ischemic diseases.
Lyramid holds MK antibodies for the treatment of myocarditis, cancer, fibrosis, chronic kidney disease and associated conditions.
In September 2018, Cellmid received positive efficacy results from its lead anti-midkine antibody, CAB102, against focal segmental glomerulosclerosis (FSGS), a rare kidney disease.
Notably, the humanised antibody reduced the area of kidney injury 3-fold compared to vehicle-treated control mice with FSGS, while renal function was improved.
This was a critical step in progressing Cellmid’s antibody assets towards clinical trials in kidney patients.