Cellmid (ASX:CDY) has had its FGF5 inhibitory hair loss technology published in a peer reviewed journal known as Clinical, Cosmetic, and Investigational Dermatology.
The journal article describes the development and screening program behind Cellmid’s FGF5 inhibitory technology and the discovery of novel, single molecule FGF5 inhibitors.
The article was based on a manuscript describing the screening approach and clinical study carried out by Cellmid’s wholly owned subsidiary, Advangen Limited.
Advangen sells hair growth products such as the évolis® range in Australia, Japan and the U.S, which were developed using FGF5 related intellectual property.
Few effective treatments exist for hair loss in both men and women.
The current market contains numerous products with unknown mechanisms of action, and/or cosmetic claims not verified by scientific data.
In contrast, Advangen’s technology is based around the inhibition of FGF5, an important molecule in the hair cycle that signals hair follicles to stop producing hair and rest.
The peer-reviewed publication of these data represents an important step for Cellmid and strengthens the position in the market of its products as effective hair loss treatments based on validated scientific rationale.
Cellmid has two business segments, consumer health and its midkine (MK) portfolio.
Cellmid aims to follow in the footsteps of FGF5 by commercialising its MK portfolio.
Cellmid recorded a 79% increase in December quarter hair loss product sales compared with the prior December quarter and will enter 2017 with a healthy $5.3 million in cash.