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Cellmid receives Chinese import permits for its Jo-Ju® and Lexilis® branded shampoos

The health and beauty-tech business is focused on global distribution and sales of its scientifically validated innovative consumer products.

Cellmid Limited - Cellmid receives Chinese import permits for its Jo-Ju® and Lexilis® branded shampoos
The import permits allow the sale of the shampoo products in any channel in mainland China.

Cellmid Ltd (ASX:CDY) has received Chinese import permits for its Jo-Ju® and Lexilis® branded shampoos from the National Medical Products Administration (NMPA).

This marks an important milestone in the implementation of the distribution agreement signed in December 2020 with Ourui Health Management (OHM).

The company's shares have been almost 6% higher intra-day to 7.2 cents. 

Permits essential for sale of products

These permits are essential for the sale of the fully finished products in mainland China and are key to implementation of the distribution agreement signed with OHM.

The NMPA is the agency responsible for the registration of drugs, medical devices and cosmetics in China.

It regulates the marketing and undertakes post-market risk management of relevant products and without NMPA approval drugs, medical devices and cosmetics cannot be exported to China.

The permits do not have an expiry date and will remain valid so long as Cellmid complies with annual reporting requirements to the NMPA.

Sale agreement for biotech subsidiary

On April 29, the company signed a binding agreement with Provelmare Holding SA, a Panama-based company, for the sale of Lyramid Limited, Cellmid's wholly-owned research and development subsidiary focused on commercialising its midkine intellectual property portfolio.

Midkine, an important novel therapeutic target, is a growth factor abundant during embryonic development but is almost undetectable in healthy adults and it reappears in certain pathologies, including inflammatory diseases and cancer, becoming readily detectible in blood and other tissues.

Although the sale was not required to be approved by shareholders, approval was sought at Cellmid’s AGM in November 2020 where the resolution to sell Lyramid was passed.

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Cellmid expects to see strong revenue growth out of China ahead of...

Cellmid Ltd’s (ASX:CDY) Maria Halasz speaks to Proactive's Andrew Scott following the news it's received the first order from Ourui Health Management Limited (OHM) for the sale of its Japanese, Ju-Ju® and Lexilis® branded, anti-ageing hair and skincare products in China. The first order of...

on 27/1/21

2 min read