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Cellmid driving towards profitability with anti-ageing product range

Snapshot

The company sells clinically validated anti-ageing products for hair, skin and body.

consumer health segment overview

Quick facts: Cellmid Limited

Price: 0.2 AUD

ASX:CDY
Market: ASX
Market Cap: $16.72 m
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Cellmid Ltd (ASX:CDY) has three wholly owned subsidiaries operating in two distinct business segments – (1) consumer health; and (2) pre-clinical therapeutic assets.

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.

Recently in December 2018, Cellmid revealed that it expected its sales revenue to reach a record $2.2 million for the December quarter.

READ: Cellmid expecting record sales in December quarter, shares up 15%

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.

Recent sales driven by Japan’s Jo-Ju® hair growth products

The expectations for a strong December sales quarter were supported by a sales event on its Japanese television shopping channel that delivered sales revenue of $1.1 million.

Cellmid’s Jo-Ju® branded Japanese hair growth products have proven to be one of the most successful cosmetics ever on the Japanese television shopping channel QVC.

Cellmid’s CEO Maria Halasz said: “With around 50,000 QVC customers, a large number of them regulars, we have a strong following for our Jo-Ju® products in Japan.

“We intend to build on this to maximise the potential for our recently launched évolis® products in multiple sales channels in Japan.”

READ: Cellmid launches évolis® Professional products in 17 store locations across the US

In November 2018, Cellmid successfully completed the initial 17-store launch in the US for its anti-aging hair care range, évolis® Professional.

With a substantial increase in store locations across the US, Cellmid is focused on implementing a cost-effective experiential marketing solution.

The company signed an agreement with a US retail specialist providing local brand ambassadors on a contract basis from the end of November 2018.

Notably, as a result of the strong response during these launch events, all three retail partners (Bloomingdales, Neiman Marcus and Soft Surroundings) advised Cellmid on additional store locations for the products.

READ: Cellmid partners with NZ pharmacies to distribute anti-ageing products

Furthermore, during November 2018, Cellmid also appointed Pharmaceutical Services Ltd (PSL) as the exclusive distributor of its anti-ageing consumer products in New Zealand.

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.

Lyramid Limited and Kinera Limited are Cellmid’s wholly-owned subsidiaries that own and develop MK related research and development programs.

READ: Cellmid builds IP for midkine portfolio with new patents

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

READ: Cellmid’s study confirms effectiveness of lead antibody against rare chronic kidney disease

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.

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