- GBI & PARTNERS
- Huadong Med's UK unit invests in Kylane, takes global rights to medical cosmetic products
Huadong Med's UK unit invests in Kylane, takes global rights to medical cosmetic products
China-based Huadong Medicine Co., Ltd (000963.SZ) announced that its UK unit Sinclair Pharma Ltd has entered into an equity investment and licensing agreement with Swiss medical cosmetics firm Kylane Laboratoires SA. Per the agreement, Sinclair will acquire a 20% stake in Kylane for EUR 6 million (USD 7 million) and be awarded one seat on Kylane's board. Sinclair will also take exclusive global rights to the latter’s two key products in the facial and body filler fields for an undisclosed amount of development fees and other monies. In addition, Sinclair retains priority negotiation rights to Kylane ‘s other products in future.
Huadong previously struck a licensing deal with Kylane in Q1 2020, according to the announcement, obtaining exclusive global rights to the latter’s MaiLiseries hyaluronic acid products. CE certificate was secured in June this year, with marketing expected next year in the EU. China is expected to be the largest medical cosmetic services market by 2021, citing Frost & Sullivan, and is forecast to be generating RMB 360.1 billion (around USD 53 billion currently) in market sales by 2023.