Uni-Bio Science And Chongqing Minji Establish Strategic Partnership, Targeting Hundreds Of Billions Of Yuan of Medical Aesthetics Device Market
- Written by Telegraph Magazine
HONG KONG SAR - EQS Newswire - 10 July 2024 - Recently, Uni-Bio Science Group Limited (the "Company", together with its subsidiaries (Beijing Genetech, Shenzhen Watsin, Dongguan Watsin), the "Group") is pleased to announce a strategic cooperation with Chongqing Minji Medical Device Co.
, Ltd. (hereafter "Chongqing Minji"). This partnership expands the Group's business into the medical aesthetics device sector and enhances its long-term strategy in biopharmaceuticals and medical aesthetics.
In the realm of skincare, amidst the escalating global aging population, rising prevalence of chronic diseases, and growing aspirations for improved aesthetics, there is a surging demand for specialized skincare products post-procedures such as general surgery, cosmetic operations, burns, and accidental injuries. Public data forecasts that by 2026, the market size for medical device dressings and functional skincare products in China will reach CNY 253.8 billion and CNY 623 billion, respectively. This alliance with Chongqing Minji, based on market analysis and growth opportunities, will leverage both parties' strengths in product registration, R&D, market channels, and brand influence. Together, they aim to develop a new business model combining biopharmaceuticals and medical devices to meet diverse market needs.
As an initial step, Uni-Bio Science Group has secured the exclusive distribution rights nationwide for Chongqing Minji's flagship product – a hydrogel wound dressing designed for post-skin injury and minimally invasive surgery wound healing. This class II medical device complements the Group's flagship product, GeneTime® (rEGF recombinant human epidermal growth factor), which is well-established in the domestic market for burn and trauma treatment. The addition of the hydrogel wound dressing further enriches the Group's product pipeline, providing patients with a full-range solution from treatment to recovery.
Uni-Bio Science Group has also attained the exclusive distribution rights for Chongqing Minji's soon-to-be-approved collagen liquid dressing, another class II medical device targeting premium demands in medical aesthetics and daily skincare. This aligns with the Group's self-developed medical aesthetic product pipeline, including fibronectin repair fluids and essence, advancing the group's integrated strategy of "Medicine + Devices + Cosmetics" for a seamless transition from therapy to beauty, offering consumers a full-cycle skin care solution.
Most notably, both companies will collaborate on developing medical device products based on Uni-Bio Science Group's proprietary core patented ingredient – Skbrella, a small molecular highly active recombinant human fibronectin. Fibronectin, naturally present in the dermis layer of human skin, boasts remarkable effects in skin repair and nourishment, presenting immense potential in medical aesthetics and premium skincare markets. This joint project aims to develop and launch China's first batch of class II medical devices utilizing fibronectin, reinforcing the company's leadership in skincare and medical aesthetics.
Lastly, Uni-Bio Science has the option to deepen its strategic alliance with Chongqing Minji by investing in and potentially acquiring the company within the next 24 months. Seizing this cooperation opportunity, the Group aims to enhance its technological innovation and market expansion in biopharmaceuticals, high-end medical devices, and medical aesthetics. Filled with confidence, the Group aspires to jointly embark on a new chapter in the healthcare industry with Chongqing Minji, introducing more innovative and high-quality products and services to the global skincare market.
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The issuer is solely responsible for the content of this announcement.
