This is expected to see the Lexilis Black™ and Jo-Ju™ brands in the market in February 2014.
Fortuitously, Cellmid is able to get rapid market access in China given the previous Japanese owner of Advangen having Chinese import permits for Lexilis™ and Jo-Ju™ already in place.
The agreement is exclusive for these brands in China, over a 3 year period, subject to minimum performance requirements, and may extended if minimum sales are met.
Huana Likang is a direct marketing company with primary channels through television shopping networks and web-based sales.
However, Cellmid has been able to achieve rapid market access due to its acquisition of Advangen Inc. in May 2013, which had Chinese import permits for Lexilis™ and Jo-Ju™ already in place.
In selecting Huana Likang Biotechnology, Cellmid has found a partner with strong growth potential and a dedicated sales force for its FGF-5 inhibitor brands.
Costs associated with marketing and sales will be met solely by the distributor, and Cellmid will provide assistance by supplying marketing information and product designs.
It is estimated that the premium Chinese hair growth market exceeds $3 billion, assuming that around 5 million people, or 0.37% of the total population, are or will be using hair growth enhancing products.
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