Cellmid Limited (ASX:CDY) has achieved key milestones and operational targets for the quarter ended 31 December 2017.
The company’s consumer health subsidiary Advangen sells hair growth products in Australia, Japan and the U.S. and currently generates all of Cellmid’s revenue.
Significantly, Cellmid’s ‘million-dollar day’ sale on 21 December 2017 on the QVC television shopping channel in Japan has been an outstanding success.
Advangen concept store launched in Japan
The store launch in October 2017 was a well-attended public relations event, followed by several articles on Advangen’s technology and products in local publications.
Located in Tokyo’s prestigious Ginza Core shopping centre, the retail store provides hair analysis services in addition to selling products, and is co-promoted with the QVC shopping channel.
Further retail expansion in the U.S.
The company recently signed up with its second U.S. retail partner, Soft Surroundings. Cellmid had successfully launched its product range on Neiman Marcus online earlier last year.
There will be an online launch initially for Soft Surroundings in a similar path to Neiman Marcus since established retailers require new brands to perform online before they commit to store launches.
The évolis® Professional range launched in Australian salons
The évolis® Professional anti-aging hair care products were launched in Australian salons in November 2017.
The roll-out, primarily through wholesale relationships, will continue in 2018.
Cellmid will engage a small sales force in 2018 to optimise return on investment in this channel, as sales are expected to increase gradually.
Kidney disease studies in Australia progressing well
The ‘in live’ phase of the FSGS (a rare disease that attacks the kidney) studies at the Westmead Institute in Sydney was completed in December 2017.
The tissue and blood data are currently being analysed by Cellmid.
Importantly, there is an early indication that one of the company’s antibodies, not previously tested, is showing efficacy in this model.
The company recently received $1 million in the form of a strategic investment from U.S. based investor, Dennis Eck.
Eck is a professional investor with 40 years’ senior management experience in the retail sector including beauty.