HONG KONG, July 30, 2015 /PRNewswire/ -- Bloomage
BioTechnology Corporation Limited ("Bloomage" or "The Company",
Stock Code: 00963.HK) announces a strategic cooperation with the
South Korean BioTech Company Medytox Inc. ("Medytox", Stock Code:
086900.KS) to establish a joint venture Medybloom to develop and
promote Type A Botulinum Toxin ("Botulinum Toxin") business in
China.
Medytox, the Botulinum Toxin brand, occupies the highest market
share in Korea, and is also the fourth company in the world
successfully developed and produced Botulinum Toxin, leveraging on
its outstanding technical capability. After Medytox's launch in
2006, the sales volume of its Botulinum Toxin product exceeds
Allergan and ranked No. 1 in Korea market share now. At present,
its product has been approved for sale in 27 countries around the
world.
The joint venture Medybloom will be principally engaged in the
registration, promotion and sales of certain products mainly
consisting of Botulinum Toxin products in China. Each of Bloomage and Medytox has 50%
shareholding interest in Medybloom.
This cooperation is a concrete result from Bloomage's efforts
promptly grasping the globally development prospect of biomedical
Industry, integrating of the world's leading biomedical products
and searching for appropriate investment projects and mergers and
acquisitions. Bloomage will accelerate its development in
China's medical aesthetics
industry by leaps and bounds.
Remarkable Results of Strategic Transformation from
"Raw Materials" to "Medical Aesthetics
Ecosystem"
In July 2012, Bloomage's modified
hyaluronic acid sodium gel ("hyaluronic acid filler") was approved
by China Food and Drug Administration (CFDA). In 2013 and 2014, it
achieved remarkable results with fast growth, recorded RMB 87 million and RMB 160
million of sales respectively.
Within two years, Bloomage's 'BioHyalux' hyaluronic acid filler
has become the leading brand in China market. It acquired over 30% market
share and has been widely recognized by dozens of cosmetic surgery
institutions.
"This is one of the important milestones of Bloomage, "Mr. Jin
Xuekun, CEO of Bloomage said. "In China, the medical industry is a
trillion level market, while the size of medical aesthetics market
is more than 100 billion. Our cooperation with Medytox will further
enhance Bloomage's medical aesthetics ecosystem stickiness, make
Bloomage to play its unique advantages of 'medical aesthetics
ecosystem' strategy i.e., 'End
products+Applications+Content+Platform' more effectively and lay
solid foundation for the transformation to be a medical aesthetics
solutions provider."
The CEO of Medytox, Hyunho Jung
said, "We are confident that the joint venture Medybloom will add
valuable contributions to both companies' growth as it benefits
from both Bloomage's sales network in Chinese Medical Aesthetics
market and Medytox's globally recognized unparalleled
technology."
About Bloomage BioTechnology Corporation Limited
Bloomage BioTechonology Corporation Limited (Stock Code:
00963.HK) is the world's largest hyaluronic acid (referred to as
"HA") raw material manufacturer, China's leading HA fillers and HA medical skin
care product manufacturer. And The Company is committed to
developing into the provider of the full series of products and
medical aesthetics solutions provider. The company was listed on
the HKEX in 2008.
For more details, please visit company website:
www.bloomagebio-tech.com
Investor Contact:
|
Bloomage BioTechnology Corporation
Limited
|
Ryan Yau
|
David Li
|
Tel: 852-96562130
|
Tel: 86-10-85670099-1506
|
Email: ryan.yau@biobloomage.com
|
Email: lizhen@biobloomage.com
|
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