Proactiveinvestors USA & Canada Cellmid Ltd https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Cellmid Ltd RSS feed en Mon, 20 May 2019 05:35:56 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Cellmid is a well funded life sciences company that see a path to profitability ]]> https://www.proactiveinvestors.com/companies/stocktube/13366/cellmid-is-a-well-funded-life-sciences-company-that-see-a-path-to-profitability-13366.html Wed, 15 May 2019 10:20:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13366/cellmid-is-a-well-funded-life-sciences-company-that-see-a-path-to-profitability-13366.html <![CDATA[Media files - Cellmid expanding products, portfolio and markets; and approaching profitablity ]]> https://www.proactiveinvestors.com/companies/stocktube/10004/cellmid-expanding-products-portfolio-and-markets-and-approaching-profitablity-10004.html Wed, 01 Aug 2018 16:59:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/10004/cellmid-expanding-products-portfolio-and-markets-and-approaching-profitablity-10004.html <![CDATA[News - Cellmid gets green light for hair loss patent in U.S. ]]> https://www.proactiveinvestors.com/companies/news/172457/cellmid-gets-green-light-for-hair-loss-patent-in-us-172457.html Cellmid (ASX:CDY) has been issued a notice of allowance for a patent entitled “Method of Treatment or Prevention of Hair Loss or for Enhancement of Hair Growth” by the U.S. Patent and Trademark Office.

The midkine (MK) alopecia patent will expire in February 2031 and it adds to the significant intellectual property rights related to the commercialisation of hair loss technologies.

The company’s other patents relate to the evolis® line of hair products which prevent hair loss and increase hair growth.

Cellmid has two business segments, consumer health and its midkine (MK) portfolio.

The consumer health segment currently sells hair growth products in Australia, Japan and the U.S, which were developed using FGF5 related intellectual property.

Cellmid aims to follow in the footsteps of FGF5 by commercialising its MK portfolio.


Patent details

The MK alopecia patent complements other members already granted in the patent family in Japan, Australia and the U.K. providing broad geographical protection over the use of the MK protein for the treatment of a number of conditions resulting in hair loss.

The alopecia patent also adds to the key patent families that ensure the company’s dominant intellectual property position over the treatment of inflammatory, ischaemic and autoimmune diseases, cancer and bone disorders by targeting or using MK.

Cellmid’s total patent portfolio currently comprises 75 patents and applications in 16 patent families.

This includes patents covering the use of MK and anti-MK agents for therapeutic purposes in a number of diseases such as cancer, inflammatory conditions and autoimmune diseases.


December quarter sales growth

Cellmid recorded a 79% increase in December quarter hair loss product sales compared with the prior December quarter and will enter 2017 with a healthy $5.3 million in cash.

The company only recently launched its lead revenue driving évolis® hair loss products into the U.S. market.

Hair loss product sales reached $943,000 for the December quarter, up 79% on the prior December quarter.

A comprehensive marketing strategy will be fully deployed in the U.S. in the coming months to build e-commerce based sales.

Advertising activity in Australia is expected to increase substantially as the U.S. e-commerce strategy is deployed.

While Cellmid continues to grow its hair loss product sales, it is also developing its MK portfolio and looking to commercialise these assets through various deals and partnerships.

]]>
Wed, 01 Feb 2017 09:30:00 -0500 https://www.proactiveinvestors.com/companies/news/172457/cellmid-gets-green-light-for-hair-loss-patent-in-us-172457.html
<![CDATA[News - Cellmid Ltd: New research shows midkine antibody restores bone loss ]]> https://www.proactiveinvestors.com/companies/news/165211/cellmid-ltd-new-research-shows-midkine-antibody-restores-bone-loss-70329.html Cellmid Ltd (ASX:CDY) has received positive research for its midkine (MK) antibodies and their use in fracture healing in an animal model of osteoporosis.

Cellmid holds the largest and most comprehensive portfolio of intellectual property relating to the MK and FGF5 globally.

MK modulates many important biological interactions such as cell growth, cell migration and cellular adherence, which is relevant to cancer, inflammation, autoimmunity, ischemia, nerve growth/repair and wound healing.

The study was conducted and published by Cellmid collaborators at the University Medical Centre in Ulm, Germany.

The current findings demonstrate that MK antibodies were effective in accelerating bone healing in osteoporotic settings.

This means the MK antibodies have potential to be developed for a clinically validated therapeutic strategy.


Background

Cellmid has two business segments, consumer health and its MK portfolio.

Cellmid holds the largest and most comprehensive portfolio of intellectual property relating to the MK and FGF5 globally.

Cellmid's consumer health division currently sells hair growth products in Japan and Australia, which were developed using FGF5 related intellectual property.

Cellmid aims to follow in the footsteps of FGF5 by commercialising its MK portfolio.

Cellmid has recently set up dedicated subsidiaries, Lyramid Limited and Kinera Limited as part of its clinical development plan to commercialise its MK antibody assets.


FY16 unaudited results

The Consumer Health business segment delivered FY16 results of $3.1 million in sales and revenue.

Japan contributed $2.3 million, which means the company delivered on its previously stated target of $2 million in sales from Japan.


Cellmid enters U.S. market

Cellmid has entered into a distribution partnership with Colour Collective in the U.S. for the launch of Cellmid’s Advangen evolis® hair growth products.

This provides Cellmid with an accelerated, direct route to U.S. sales channels that have proven successful in Australia and Japan.

The U.S. is the biggest single market for hair loss treatments with combined sales of circa US$3.5 billion annually.

U.S. sales will commence in 2016 through e-commerce channels with distribution to high-end retail and other direct to consumer opportunities to follow.


U.S. opportunity with women

The US$3.5 billion U.S. market is comprised 57.7% of minoxidil based products, which cater mostly for men.

Cellmid’s evolis® range is formulated for both men and women.

This is particularly important as almost half of those suffering from hair loss are women without a safe and effective treatment alternative. 


Analysis

Development of Cellmid’s MK portfolio has the potential to be a high value catalyst for the company.

These study results show that the portfolio has the opportunity to generate value for the company through partnerships and external investment.

With a market cap of circa $30 million Cellmid is generating over $3 million in revenue which is growing annually at over 70%.

Major value inflection points such as U.S, European and Chinese sales are expected to begin over the short to medium term.

Cellmid’s most likely news flow will be coming from overseas markets such as the U.S.

There is also major research, regulatory and product development milestones expected in China and Europe over the coming months.

Regarding drug development, the company is in the final stages of getting Lyramid and Kinera, the MK subsidiaries, ready for clinical development.

The stock is up 40% over the past three months, currently trading at $0.031.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Tue, 09 Aug 2016 12:00:00 -0400 https://www.proactiveinvestors.com/companies/news/165211/cellmid-ltd-new-research-shows-midkine-antibody-restores-bone-loss-70329.html
<![CDATA[News - Cellmid Ltd's Maria Halasz outlines revenue growth path at Spotlight CEO Session ]]> https://www.proactiveinvestors.com/companies/news/165210/cellmid-ltds-maria-halasz-outlines-revenue-growth-path-at-spotlight-ceo-session-70280.html Cellmid Ltd (ASX:CDY) has entered into a distribution partnership with Colour Collective in the U.S. for the launch of Cellmid’s Advangen evolis® hair growth products.

This provides Cellmid with an accelerated, direct route to U.S. sales channels that have proven successful in Australia and Japan.

The U.S. is the biggest single market for hair loss treatments with combined sales of circa US$3.5 billion annually.This week Maria Halasz, managing director, joined the Proactive Investors Spotlight CEO Session in Sydney, outlining the company strategy to investors.

ACCESS THE FULL PRESENTATION HERE

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Fri, 05 Aug 2016 16:30:00 -0400 https://www.proactiveinvestors.com/companies/news/165210/cellmid-ltds-maria-halasz-outlines-revenue-growth-path-at-spotlight-ceo-session-70280.html
<![CDATA[News - Cellmid Ltd's Maria Halasz talks revenue at Proactive's CEO Spotlight Session ]]> https://www.proactiveinvestors.com/companies/news/151851/cellmid-ltds-maria-halasz-talks-revenue-at-proactives-ceo-spotlight-session-69952.html Cellmid Ltd (ASX:CDY) has entered into a distribution partnership with Colour Collective in the U.S. for the launch of Cellmid’s Advangen evolis® hair growth products.

This provides Cellmid with an accelerated, direct route to U.S. sales channels that have proven successful in Australia and Japan.

The U.S. is the biggest single market for hair loss treatments with combined sales of circa US$3.5 billion annually.

U.S. sales will commence in 2016 through e-commerce channels with distribution to high-end retail and other direct to consumer opportunities to follow.

With the company well on track to achieve its $2 million sales target in Japan, its recent entry into the Australia market and coming entry into the U.S. market – Cellmid’s consumer health business is set to continue its rapid growth.


Find out more from Maria Halasz, managing director, at Proactive's Spotlight CEO Sessions in Sydney in August 2016.

REGISTER HERE, CLICK ON LINK: Sydney Investor Sessions, Wednesday, 3rd August


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 21 Jul 2016 09:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151851/cellmid-ltds-maria-halasz-talks-revenue-at-proactives-ceo-spotlight-session-69952.html
<![CDATA[News - Cellmid Ltd to enter world’s largest hair loss treatment market ]]> https://www.proactiveinvestors.com/companies/news/151850/cellmid-ltd-to-enter-worlds-largest-hair-loss-treatment-market-69918.html Cellmid Ltd (ASX:CDY) has entered into a distribution partnership with Colour Collective in the U.S. for the launch of Cellmid’s Advangen evolis® hair growth products.

This provides Cellmid with an accelerated, direct route to U.S. sales channels that have proven successful in Australia and Japan.

The U.S. is the biggest single market for hair loss treatments with combined sales of circa US$3.5 billion annually.

U.S. sales will commence in 2016 through e-commerce channels with distribution to high-end retail and other direct to consumer opportunities to follow.


Colour Collective

Colour Collective is a specialist in launching high end hair brands in the U.S. and is based in Dallas, Texas.

The principals of Colour Collective have over 40 years of combined experience in launching and distributing brands in the U.S., Europe and Asia for companies such as Revlon, Unilever, LVMH, Colomer and Toni & Guy.

Since 2012, Colour Collective has launched nine new brands covering 146 products.


U.S. opportunity with women

The US$3.5 billion U.S. market is comprised 57.7% of minoxidil based products, which cater mostly for men.

Cellmid’s evolis® range is formulated for both men and women.

This is particularly important as almost half of those suffering from hair loss are women without a safe and effective treatment alternative. 

Kerry Yates, director of marketing at Colour Collective commented:

“Given that minoxidil based products cater mostly for men, evolis® has a much greater market potential in the hair loss segment alone, not to mention the rapidly growing anti -aging hair care category.

“We see evolis® as a US$100 million plus brand in the USA alone”.  


Background

Cellmid has two business segments, consumer health and its midkine (MK) portfolio.

Cellmid holds the largest and most comprehensive portfolio of intellectual property relating to the MK and FGF5 globally.

Cellmid's consumer health division currently sells hair growth products in Japan and Australia, which were developed using FGF5 related intellectual property.

Cellmid aims to follow in the footsteps of FGF5 by commercialising its MK portfolio.

Cellmid has recently set up dedicated subsidiaries, Lyramid Limited and Kinera Limited as part of its clinical development plan to commercialise its MK antibody assets.


Analysis

This distribution agreement represents a major milestone for Cellmid as it continues to grow revenues from its FGF5 inhibitor hair growth products by expanding into new markets.

With the company well on track to achieve its $2 million sales target in Japan, its recent entry into the Australia market and coming entry into the U.S. market – Cellmid’s consumer health business is set to continue its rapid growth.

Sales growth to date has been achieved with limited advertising spend with Cellmid planning to deploy a call-to-action sales generating program from mid-July.

Entry into the U.S. market will see Cellmid be rewarded for dedicating early funding to its U.S. and Chinese expansion.

The consumer health business which sells hair growth products operates at over 70% gross margin providing very strong profitability potential as the business scales up through sales growth and new market entry.

News flow is expected over the coming months regarding major research, regulatory and product development milestones in China and Europe.

Cellmid continues to prepare its MK assets for clinical development; which will act as major value catalysts.

Cellmid shares have been trading positively, up 40% over the past three months at $0.031.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 20 Jul 2016 08:10:00 -0400 https://www.proactiveinvestors.com/companies/news/151850/cellmid-ltd-to-enter-worlds-largest-hair-loss-treatment-market-69918.html
<![CDATA[News - Cellmid Ltd's Maria Halasz talks revenue growth in Proactive Q&A Sessions™ ]]> https://www.proactiveinvestors.com/companies/news/151849/cellmid-ltds-maria-halasz-talks-revenue-growth-in-proactive-qa-sessions-69558.html Cellmid Ltd (ASX:CDY) continues to grow revenues from its FGF5 inhibitor hair growth products in Australia and Japan, and is expanding distribution into new territories.

Cellmid holds the largest and most comprehensive portfolio of intellectual property relating to the novel targets midkine (MK) and FGF5 globally.

Midkine modulates many important biological interactions such as cell growth, cell migration and cellular adherence.

These functions are relevant to cancer, inflammation, autoimmunity, ischemia, nerve growth/repair and wound healing.

To find out more, we are joined exclusively by Maria Halasz, CEO for Cellmid, in Proactive Q&A Sessions™.


PROACTIVE INVESTORS: Welcome Maria.


In a February investor call, Cellmid outlined a FY16 $2M revenue target for Japan. Can you please provide an update on achieving this target, and where the funds will be allocated?

Maria Halasz: Thank you John.  Our consumer health business is focused on fulfilling the market need for clinically validated hair growth products that actually work. We are the first in 30 years with a topical hair growth brand, evolis®, that has a scientific basis and clinical efficacy data.

Our products are particularly differentiated as they are also safe and effective for women, not just men.  When you consider that 30% of all women over 35 years old would have some form of hair loss you can see why our evolis® products have reached such strong market penetration early on.

In fact we are well on track to achieve our target $2 million sales in Japan and will be able to report strong sales growth in Australia too; this against very limited advertising spending.

In July 2015 we raised $4 million to fund our Australian and Japanese launch, and have been prudently deploying this capital to establish distribution in Australia, set up a sales force and secure the most profitable sales channels.

We haven’t started our full scale advertising yet, planning to deploy a call-to-action sales generating program from mid-July, as our national sales team has now secured critical distribution levels in pharmacies.

Instead of the Australian advertising, we have dedicated funding early on for our US and Chinese expansion, as both of these markets represent much very significant revenue potential for us.

We have accelerated the product development, testing and regulatory work for our US market entry given the more immediate sales potential there, but have also been actively working with potential Chinese partners.


With the funding allocation for Australian product development, what current sales gaps would these products potentially fill, and what is a general timeline from development to commercialisation?

Maria Halasz: Immediately after our full pharmacy launch in May 2015 we started working on the other key market opportunity, which is the professional and salon channel.

We have recently launched the evolis® professional product range, which includes 13 products addressing 4 key hair concerns; volume, hair quality, anti-aging and colour treated hair care.

In addition to our market leading FGF5 technology these products have a range of anti-oxidants to maximise hair and scalp health, plus they are SLS, silicon and paraben free, contain certified organic extracts and are at the very cutting edge of hair technology.

We launched these products with great success in mid-June at the Hair Expo in Melbourne, where we have received strong interest from both professional salon owners and retail customers.

We will build distribution and sales in salons gradually to reduce capital exposure, and will continue to fund the growth of business from revenue rather than raising capital from the market.


What is the key demographic targeted in the U.S. sales roll-out, and how could spend per customer compare to the Japanese or Australian markets?

Maria Halasz: We have not yet released our full plans for the US expansion as there are some commercial sensitivities around giving away too much to the competition. However, we expect to target the female hair loss/anti-aging hair care market first, as competition in this segment is very limited and we are acknowledged to be the leading product.

Spending per customer in the US overall is likely to be similar to that in Australia on the basis of our initial market review. However, there are variations in how male/female or under 30/over 30 customers spend their money, especially when compared with our Japanese customer base.

In Japan, older female consumers form are largest customer group, whereas in Australia we see a lot more purchasing activity amongst younger people, and that includes men and women.


Taking a global view, what are the actual and projected growth figures, and expected tipping point timeline into profitability?

Maria Halasz: Our Japanese and Australian businesses are quite different. Japan funds local operations from local sales, and profitability can be crystallised a lot faster than in Australia.

On the other hand Australia carries all the global expansion costs, including those to the US, Chinese and European markets. Furthermore, R&D and product development expenditure is also accrued to the Australian parent.

Our goal is the efficient deployment of the capital to grow our global foot print significantly.  We want to be a force in hair growth globally, and will be spending the next three to four years to achieve that.

How that will work out in the long run for us? We have already shown the strong revenue growth that can be achieved in a defined, well developed market such as Australia. We have achieved 50-100% annual growth in Japan and Australia in the past and expect this trend to continue for some time.

We work with 70% plus gross margin and therefore our business has a very strong profitability potential. The potential is also there for us to have a highly profitable global business in the medium term of 3-4 years.


Looking forward, would Cellmid consider distribution arrangements with partners to accelerate the company's hair loss product sales into new markets and territories?

Maria Halasz: Our objective has so far been to reduce risks and deploy capital prudently to fund our business. To achieve that, it is inevitable that we look for strong partnerships with distributors or agents. Especially in markets we lack expertise.

However, it has been important to us to retain control of the brand in Australia. We learnt a lot about our customers and their needs and the market dynamics that allow for our product to be successful. We have also learnt a lot about the pitfalls which prepares as well for finding the right partners.


Can you also provide an update on the 2016 expected news flow for other patents in Cellmid’s portfolio?

Maria Halasz: Our most likely news flow will be coming from overseas markets, first the US, but there are major research, regulatory and product development milestones that we expect to knock down in China and Europe in the coming months as well.

On our drug development front we are in the final stages of getting Lyramid and Kinera, our midkine subsidiaries, ready for clinical development. With the progress we have made during the recent Midkine Symposium in Budapest we expect to see value to accrue to this programs as get closer to the clinic.


Finally, why should an investor consider adding Cellmid to their portfolio?

Maria Halasz: With a market cap of under $30 million Cellmid is generating millions in revenue and that revenue is growing annually at 70-100% from our consumer health businesses in Australia and Japan.

Major value inflection points such US, European and Chinese sales are expected to kick in in the short to medium term, while the high value biotech assets are getting ready for clinical development; and major value increase.


PROACTIVE INVESTORS: Thank-you Maria.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 01 Jul 2016 09:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151849/cellmid-ltds-maria-halasz-talks-revenue-growth-in-proactive-qa-sessions-69558.html
<![CDATA[News - Cellmid Ltd completes world first study accelerating bone healing ]]> https://www.proactiveinvestors.com/companies/news/151848/cellmid-ltd-completes-world-first-study-accelerating-bone-healing-69427.html Cellmid Ltd (ASX:CDY) has completed a world first study showing accelerated bone fracture healing in a rodent through treatment with a midkine (MK) antibody.

Cellmid owns a portfolio of MK antibody assets which it intends to commercialise through clinical development.

As a result of the study, a patent has been filed and the results have been published in the British Journal of Pharmacology.

The data generated adds substantial commercial value to Cellmid’s MK assets, which have already showed promise in chronic kidney disease models.

Complications in bone healing result in a higher cost to the health care system as well as a burden to patients, highlighting the need for better therapies such as Cellmid’s MK antibodies.


Study details

The study was completed in collaboration with a leading bone research group in Germany.

Dr Liedert and her team used Cellmid’s therapeutic MK antibody to treat experimental bone fractures in aged rodents.

The MK antibody treatment resulted in a faster bone replacement and better quality, stronger bone within the fracture.


Background

Cellmid has two business segments, consumer health and its MK portfolio.

Cellmid holds the largest and most comprehensive portfolio of intellectual property relating to the MK and FGF5 globally.

Cellmid's consumer health division currently sells hair growth products, which were developed using FGF5 related intellectual property.

Cellmid aims to follow in the footsteps of FGF5 by commercialising its MK portfolio.

Cellmid has recently set up dedicated subsidiaries, Lyramid Limited and Kinera Limited as part of its clinical development plan to commercialise its MK antibody assets.

Lyramid will develop the company’s large MK antibody portfolio, assessing likely therapeutic indications in fibrotic diseases and cancer.

Kinera will commercialise the company’s MK protein assets in ischemic diseases, with a focus on chronic heart disease.


Analysis

These study results and recognition by the British Journal of Pharmacology highlight the commercial value of Cellmid’s MK asset portfolio.

A commercial partnership with Lyramid or Kinera will act as a key catalyst for Cellmid.

Cellmid shares are up 70% over the past three months, trading at $0.033 per share.

Upcoming events for Cellmid include:

- An évolis® concept store in Tokyo planned to open in late CY2016; and
- Distribution partnerships to expand into the U.S. before the end of FY2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 24 Jun 2016 12:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151848/cellmid-ltd-completes-world-first-study-accelerating-bone-healing-69427.html
<![CDATA[News - Cellmid Ltd's CEO Maria Halasz lifts stake with on-market trades ]]> https://www.proactiveinvestors.com/companies/news/151847/cellmid-ltds-ceo-maria-halasz-lifts-stake-with-on-market-trades-69309.html Cellmid Ltd's (ASX:CDY) Maria Halasz, chief executive officer, has lifted her indirect stake in the company through an on-market trade.

Halasz picked up 652,600 shares for a consideration of $19,350, or around $0.03 per share.

The shares were bought between the 15th – 17th June 2016.

Halasz now holds a stake of:

- Direct: 1.55 million shares and 12 million loan shares; and
- Indirect: 10 million shares, 1.5 million $0.034 options and 5 million $0.032 options.


Cellmid Ltd launch to drive revenue

Earlier in the month Cellmid launched its Advangen evolis® Professional  hair growth product range in Australia.

The range includes 13 new products all with Cellmid's unique FGF5 inhibitor hair growth technology. 

Revenue from the evolis® Professional  products is expected to contribute markedly to the overall Australian target in the medium term.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 20 Jun 2016 15:30:00 -0400 https://www.proactiveinvestors.com/companies/news/151847/cellmid-ltds-ceo-maria-halasz-lifts-stake-with-on-market-trades-69309.html
<![CDATA[News - Cellmid Ltd launches hair product range in Australia to drive revenue ]]> https://www.proactiveinvestors.com/companies/news/151846/cellmid-ltd-launches-hair-product-range-in-australia-to-drive-revenue-69214.html Cellmid Ltd (ASX:CDY) has launched its Advangen evolis® Professional  hair growth product range in Australia.

The range includes 13 new products all with Cellmid's unique FGF5 inhibitor hair growth technology. 

Revenue from the evolis® Professional  products is expected to contribute markedly to the overall Australian target in the medium term.

The Australian launch will provide insight to the planned international distribution expansion.

The product range aims to be made available to 400 hair salons nationally with sales commencing in New South Wales.


Consumer health division

Cellmid's consumer health business segment refers to its Advangen anti-aging hair care products.

Advangen has a range of FGF5 inhibitor hair growth products which are sold in Australia, Japan, China and Taiwan.

The most recent published financial results were for the 6 months ending December 2015 (H1 FY2016).

During this period, revenue increased by 108% across the consumer health division to over $1.2 million compared with the same period last year (H1 FY2015: $582,000).

Of the $1.2 million revenue in H1 FY2016, Japan contributed $950,000 and Australia contributed $266,000.


Japan record sales

Cellmid achieved record sales of A$558,165 for its hair growth products in Japan during April.

This strong growth will position Cellmid well to deliver on their FY2016 revenue target of $4 million.

Sales are being driven by television infomercials through QVC, one of the largest infomercial channels with a global audience of over three billion.

Cellmid’s Japanese female hair loss product, Jo-Ju®, has become one of the highest selling brands on QVC.

An évolis® concept store in Tokyo planned to open in late CY2016.

Other Japanese retail opportunities are expected to start from the last quarter on FY2016.


Analysis

While the Australian product launch represents another opportunity for medium term growth, Japanese sales remain the key to Cellmid reaching its FY2016 revenue target of $4 million.

Cellmid shares are up 45% over the past three months, trading at $0.029 per share.

The rapidly growing Japanese sales model has the opportunity to be mirrored in other countries such as Australia, China and the U.S.

The Australian launch will also provide valuable insight ahead of entry into other major markets.

Upcoming events for Cellmid include:

- An évolis® concept store in Tokyo planned to open in late CY2016; and
- Distribution partnerships to expand into the U.S. before the end of FY2016.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Wed, 15 Jun 2016 08:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151846/cellmid-ltd-launches-hair-product-range-in-australia-to-drive-revenue-69214.html
<![CDATA[News - Cellmid Ltd delivers record sales revenue in Japan ]]> https://www.proactiveinvestors.com/companies/news/151845/cellmid-ltd-delivers-record-sales-revenue-in-japan-68855.html Cellmid Ltd (ASX:CDY) achieved record sales of A$558,165 for its hair growth products in Japan during April.

This strong growth will position Cellmid well to deliver on their FY2016 revenue target of $4 million.

Sales are being driven by television infomercials through QVC, one of the largest infomercial channels with a global audience of over three billion.

Cellmid’s Japanese female hair loss product, Jo-Ju®, has become one of the highest selling brands on QVC.

An évolis® concept store in Tokyo planned to open in late CY2016.

Other Japanese retail opportunities are expected to start from the last quarter on FY2016.


Consumer health division

Cellmid's consumer health business segment refers to its Advangen anti-aging hair care products.

Advangen has a range of FGF5 inhibitor hair growth products which are sold in Australia, Japan, China and Taiwan.

The most recent published financial results were for the 6 months ending December 2015 (H1 FY2016).

During this period, revenue increased by 108% across the consumer health division to over $1.2 million compared with the same period last year (H1 FY2015: $582,000).

Cellmid’s Japanese sales were $949,000 for the period, a 133% increase from the same period in the previous year (H1 FY2015: $407,000).


Midkine (MK) assets

Cellmid's MK assets represent the company's other business segment.

Cellmid acquired the MK portfolio in 2008. Since the acquisition the MK intellectual property has been developed and achieved significant milestones as both the antibody and protein programs are nearing clinical development.

Cellmid currently owns 79 patents and patent applications in 20 patent families relating to MK.

Cellmid has recently set up dedicated subsidiaries, Lyramid Limited and Kinera Limited as part of its clinical development plan to commercialise its MK antibody and protein assets.

Lyramid will develop the company’ s large MK antibody portfolio, assessing likely therapeutic indications in fibrotic diseases and cancer.

Kinera will commercialise the company’s MK protein assets in ischemic diseases, with a focus on chronic heart disease.


Analysis

Sales growth in Japan is going to be the key driver for Cellmid to meet its FY2016 revenue goal of $4 million.

Cellmid has the potential to emulate their successful Japanese sales model in other countries where they have distribution channels for their anti-ageing hair products.

Cellmid was recently involved in industry specific global event, the Budapest Midkine Symposium which is significant for Cellmid as they market their MK portfolio to interested parties.

The company recently set up dedicated subsidiaries for its Cellmid assets to provide for a user friendly corporate and operational structure.

Upcoming events for Cellmid include:

- The planned June launch of the évolis® Professional range in Australia;
- An évolis® concept store in Tokyo planned to open in late CY2016; and
- Distribution partnerships to expand into the U.S. before the end of FY2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 26 May 2016 12:30:00 -0400 https://www.proactiveinvestors.com/companies/news/151845/cellmid-ltd-delivers-record-sales-revenue-in-japan-68855.html
<![CDATA[News - Cellmid Ltd to benefit from data at Budapest Midkine Symposium ]]> https://www.proactiveinvestors.com/companies/news/151844/cellmid-ltd-to-benefit-from-data-at-budapest-midkine-symposium-68555.html Cellmid Ltd's (ASX:CDY) Midkine (MK) antibody and protein assets have been supported by data recently presented at the Midkine Symposium in Budapest.

Clinicians and scientists from nine countries presented data on MK biology and its role in disease.

Findings confirmed Cellmid's clinical strategy for its portfolio of MK assets.

The symposium is expected to contribute to an adaptive clinical development path for MK antibodies.

Evidence also emerged during the symposium that MK is an important molecule in inter-organ signalling in a number of diseases.


Midkine Symposium key messages

While the presentations and discussions held during the symposium were made under confidentiality, some of the key messages included:

- Cellmid's N terminal binding MK antibodies were tested in a model and showed potential clinical application. They also showed enhanced bone fracture healing.

- Two of Cellmid’s MK antibodies have shown tumour suppressing ability.

- New insights were presented into the structure of MK’s binding with glycosaminoglycans.

- MK human diagnostic work by three separate groups included further understanding on urinary MK in prostate and bladder cancers and chronic kidney disease.


Background

Cellmid separates its business segments into consumer health which refers to its Advangen hair loss products and its MK assets.

Cellmid acquired the MK portfolio in 2008. Since the acquisition the MK intellectual property has been developed and achieved significant milestones as both the antibody and protein programs are nearing clinical development.

Cellmid has recently set up dedicated subsidiaries, Lyramid Limited and Kinera Limited as part of its clinical development plan to commercialise its MK antibody and protein assets.

Lyramid will develop the company’ s large MK antibody portfolio, assessing likely therapeutic indications in fibrotic diseases and cancer.

Kinera will commercialise the company’s MK protein assets in ischemic diseases, with a focus on chronic heart disease.


Analysis

Cellmid continue to develop therapeutic opportunities based on scientific merit for Cellmid’s MK asset portfolio.

The company recently set up dedicated subsidiaries for its Cellmid assets to provide for a user friendly corporate and operational structure.

Being involved in industry specific global events such the Budapest Midkine Symposium is an important process for Cellmid as they market their MK portfolio to interested parties.

Upcoming events for Cellmid include:

- The planned June launch of the évolis® Professional range in Australia;

- An évolis® concept store in Tokyo planned to open in late CY2016; and

- Distribution partnerships to expand into the U.S. before the end of FY2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 11 May 2016 12:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151844/cellmid-ltd-to-benefit-from-data-at-budapest-midkine-symposium-68555.html
<![CDATA[News - Cellmid Ltd's advisory board chair appointed Professor of Neurosciences at UTS ]]> https://www.proactiveinvestors.com/companies/news/151843/cellmid-ltds-advisory-board-chair-appointed-professor-of-neurosciences-at-uts-68512.html Cellmid Ltd (ASX:CDY) congratulates Dr Bryce Vissel, the chair of the company’s Scientific Advisory Board, on his appointment as Professor of Neurosciences at the University of Technology Sydney.

Professor Vissel will lead a team of scientists establishing a world class research initiative at UTS in neurosciences and regenerative medicine, including Alzheimer’s and Parkinson’s disease, spinal cord disorders and neuropsychiatric conditions.

Professor Vissel has made a significant contribution to Cellmid since joining as chair of the company’s Scientific Advisory Board in July 2015.

He has been instrumental in the development of the clinical strategy for midkine (MK), crystallised within two of the company’s wholly owned subsidiaries Lyramid and Kinera.

MK is a growth factor that is highly expressed during embryonic development.

Midkine modulates many important biological interactions such as cell growth, cell migration and cellular adherence.

These functions are relevant to cancer, inflammation, autoimmunity, ischemia, nerve growth/repair and wound healing. Midkine is highly anti-apoptotic and cell protectant.

It is this mechanism of action that is thought to be responsible for MK’s ability to prevent myocardial damage during ischemic events in the heart.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 10 May 2016 11:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151843/cellmid-ltds-advisory-board-chair-appointed-professor-of-neurosciences-at-uts-68512.html
<![CDATA[News - Cellmid Ltd progresses on road to commercialise midkine protein assets ]]> https://www.proactiveinvestors.com/companies/news/151842/cellmid-ltd-progresses-on-road-to-commercialise-midkine-protein-assets-67967.html Cellmid Ltd (ASX:CDY) has set up dedicated subsidiaries, Lyramid Limited and Kinera Limited as part of its clinical development plan to commercialise its Midkine (MK) antibody and protein assets.

Lyramid will develop the company’ s large MK antibody portfolio, assessing likely therapeutic indications in fibrotic diseases and cancer.

Kinera will commercialise the company’s MK protein assets in ischemic diseases, with a focus on chronic heart disease. 

Having a user friendly corporate and operational structure will accelerate the delivery of investor value by providing a number of advantages.

It will allow for external investment to be targeted at the specific area of disease and allow for business units to be involved more easily in corporate transactions such as acquisitions.

A recent comprehensive strategic review of the MK IP led by Cellmid’s Chair of Scientific Advisory Committee, Dr Bryce Vissel, has narrowed the key therapeutic opportunities to three areas, fibrosis, cancer and chronic heart disease, which are expected to be best commercialised through the new corporate structure.

“The company has a well-considered research strategy underpinned by international efforts by excellent scientists.

"There is strong scientific merit and therapeutic opportunities for Cellmid’s midkine asset portfolio.

“We have been able to evaluate the vast data generated by the company and its collaborators, and are very close to finalising the clinical development plans for both Lyramid and Kinera.”


Background

Cellmid separates its business segments into consumer health which refers to its Advangen hair loss products and its MK assets.

Cellmid acquired the MK portfolio in 2008. Since the acquisition the MK intellectual property has been developed and achieved significant milestones as both the antibody and protein programs are nearing clinical development.

Cellmid currently owns 79 patents and patent applications in 20 patent families relating to MK.

A recent strategic review of the MK assets has narrowed the key commercial therapeutic opportunities to three areas, fibrosis, cancer and chronic heart disease.


Advangen

The Advangen business develops and sells anti-aging hair care products.

Advangen has a range of FGF5 inhibitor hair growth products which are sold in Australia, Japan, China and Taiwan.


Financial highlights

Revenue increased by 108% across the Consumer Health Division at over $1.2 million for H1 FY2016 compared with the same period last year (FY2015: $582K).

Cellmid’s Japanese sales continued to strengthen at $949K, a 133% increase from the same period in the previous year (2015: $407K).


Upcoming events

The planned launch of the évolis® Professional range in Australia, which has 13 products for salons, in June 2016.

An évolis® concept store in Tokyo planned to open in late CY2016. Other Japanese retail opportunities are expected to start from the last quarter on FY2016.

Expansion into the USA is well advanced and in the process of securing distribution partnerships before the end of FY2016.

Multiple distribution opportunities are explored in China for the Australian manufactured évolis® and Japanese manufactured Jo-Ju® brands.

All trade mark registration applications and requisite regulatory work filed in the US and China.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 08 Apr 2016 13:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151842/cellmid-ltd-progresses-on-road-to-commercialise-midkine-protein-assets-67967.html
<![CDATA[News - Cellmid Limited continues growth in Japan, set for sales increase ]]> https://www.proactiveinvestors.com/companies/news/151841/cellmid-limited-continues-growth-in-japan-set-for-sales-increase-67225.html Cellmid (ASX:CDY) delivered an increase of 108% in revenue across the Consumer Health Division at over $1.2 million for H1 FY2016, compared with the same period last year (FY2015: $582K).

There is the potential for a further expansion, as the company has completed brand building activities and commencement of the advertising campaign to drive customer traffic to pharmacies in Australia.

Cellmid also has a planned launch of the évolis® Professional range in Australia, which has 13 products for salons, in June 2016.


Japan

Cellmid’s Japanese sales continued to strengthen at $949K, a 133% increase from the same period in the previous year (2015: $407K).

évolis® concept store in Tokyo planned to open in late CY2016. Other Japanese retail opportunities are expected to start from the last quarter on FY2016.


Funding

Cellmid has refinanced the R&D loan agreement originally entered into with Platinum Road on 15 May 2015.

The original $1,000,000 loan facility and interest was repaid by a new $700,000 loan and cash.

Together with the company’s existing cash reserves the funds will be used to continue the development of the CAB102 midkine (MK) antibody program and invest into the international distribution opportunities for the évolis® product range.


Analysis

With Cellmid’s expansion in both the pharmacy and salon markets in Australia, the continued growth in Japan, and with the planned drive into major international markets - the company is poised for a significant increase in sales in FY2016 and beyond.

This also has the potential to alleviate the need for a further capital raise.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Fri, 26 Feb 2016 13:30:00 -0500 https://www.proactiveinvestors.com/companies/news/151841/cellmid-limited-continues-growth-in-japan-set-for-sales-increase-67225.html
<![CDATA[News - Cellmid appoints Elizabeth Masamune as director of subsidiary Advangen Inc ]]> https://www.proactiveinvestors.com/companies/news/151840/cellmid-appoints-elizabeth-masamune-as-director-of-subsidiary-advangen-inc-66871.html Cellmid Limited (ASX:CDY) has appointed Ms Elizabeth Masamune PSM, (MLS, BA Hons, GAICD) as a non-executive director of its wholly-owned subsidiary, Advangen Inc., Japan.

Based in Tokyo, Ms Masamune will lead the strategy for évolis®, Cellmid’s Australian FGF5 inhibitor hair growth product brand, to be launched in Japan and other parts of Asia.

An accomplished senior diplomat living and working in North and South East Asia for 25 years, Ms Masamune dedicated her career to assisting Australian companies establishing businesses in the region.

Dr David King, chairman, commented:

“We are delighted to welcome Elizabeth onto the Board of Advangen Inc., as a non-executive director.

“Elizabeth’s unparalleled experience and contacts in Asian trade and business will be critical in the successful launch of the évolis® brand in the region.”

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Fri, 05 Feb 2016 08:00:00 -0500 https://www.proactiveinvestors.com/companies/news/151840/cellmid-appoints-elizabeth-masamune-as-director-of-subsidiary-advangen-inc-66871.html
<![CDATA[News - Cellmid Limited's CEO Maria Halasz buys shares on-market ]]> https://www.proactiveinvestors.com/companies/news/151839/cellmid-limiteds-ceo-maria-halasz-buys-shares-on-market-66268.html Cellmid Limited's CEO, Maria Halasz, has purchased 300,000 shares on-market at $0.024, increasing her indirect stake to just over 10 million shares, with several lines of options.

Halasz also has a direct stake of circa 1.5 million shares, and a 12 million fully paid ordinary (loan) shares.

Earlier in the month Cellmid received $1.12 million from the Australian Taxation Office under the Research and Development Tax Incentive Scheme for the 2015 financial year.

The tax credit relates to research and development expenditure incurred by the company in relation to its midkine and FGF5 inhibitor programmes.

Midkine is a protein that is emerging as an important new target for drug development in the treatment of a number of diseases, while FGF5 is a protein associated with hair loss.

Research in these areas has been the focus of Cellmid activity recently and has included a first-in-class antibodies program includes development of the drug CAB102, which has been demonstrated in formal tests to be a ground breaking method of targeting midkine.

The company's anti-aging /hair growth subsidiary, Advangen, uses FGF5 inhibiting technologies to develop products for sale in Australia and Japan.

The latest R&D investment from the government will further support programs to develop initiatives in these fields and build on a strengthening financial footing for the company, which was demonstrated over Q1 2016 with record cash receipts from customers of more than $1 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 18 Dec 2015 14:30:00 -0500 https://www.proactiveinvestors.com/companies/news/151839/cellmid-limiteds-ceo-maria-halasz-buys-shares-on-market-66268.html
<![CDATA[News - Cellmid receives $1.1M in medical research tax credit ]]> https://www.proactiveinvestors.com/companies/news/151838/cellmid-receives-11m-in-medical-research-tax-credit-66119.html Cellmid (ASX:CDY) has received $1.12 million from the Australian Taxation Office under the Research and Development Tax Incentive Scheme for the 2015 financial year.

The tax credit relates to research and development expenditure incurred by the company in relation to its midkine and FGF5 inhibitor programmes.

Midkine is a protein that is emerging as an important new target for drug development in the treatment of a number of diseases, while FGF5 is a protein associated with hair loss.

Research in these areas has been the focus of Cellmid activity recently and has included a first-in-class antibodies program includes development of the drug CAB102, which has been demonstrated in formal tests to be a ground breaking method of targeting midkine.

The company's anti-aging /hair growth subsidiary, Advangen, uses FGF5 inhibiting technologies to develop products for sale in Australia and Japan.

The latest R&D investment from the government will further support programs to develop initiatives in these fields and build on a strengthening financial footing for the company, which was demonstrated over Q1 2016 with record cash receipts from customers of more than $1 million.

Compared with the same period in the prior year, receipts were up 320% ($244K in 1Q2015).


Patent progress

Cellmid has also added an important layer of intellectual property protection with the grant of a European patent for treating autoimmune disorders using midkine inhibitors.

The patent covers the use of midkine inhibitors where the increase of regulatory T cells (Tregs) may be beneficial for treatment, such as multiple sclerosis.

The new patent forms the basis for the commercial development of Cellmid’s midkine antibodies in autoimmune disease indications.

Autoimmune attacks can be mitigated by boosting Treg numbers through the use of midkine antibodies.

In animal models of autoimmunity, inhibiting MK using Cellmid’s MK antibodies alleviated disease.

The new European patent for this method is the third member of the patent family for Cellmid.

The U.S. patent was granted in 2012 and the Japanese patent was granted in 2013.


Analysis

The new funds from the government R&D incentive scheme add to Cellmid's balance and support company technologies which continue to demonstrate merits via patent grants, sales and trialling success.

The tax credit also highlights the diversity of Cellmid's midkine portfolio, which includes work in cancer diagnostics and hair growth/anti-ageing treatments.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 11 Dec 2015 09:50:00 -0500 https://www.proactiveinvestors.com/companies/news/151838/cellmid-receives-11m-in-medical-research-tax-credit-66119.html
<![CDATA[News - Cellmid supports autoimmune disease treatment with European patent ]]> https://www.proactiveinvestors.com/companies/news/151837/cellmid-supports-autoimmune-disease-treatment-with-european-patent-65914.html Cellmid (ASX:CDY)  has added an important layer of intellectual property protection with the grant of a European patent for treating autoimmune disorders using midkine inhibitors.

The patent covers the use of midkine inhibitors where the increase of regulatory T cells (Tregs) may be beneficial for treatment, such as multiple sclerosis.

Midkine is a protein that is emerging as an important new target for drug development in the treatment of a number of diseases.

The new patent forms the basis for the commercial development of Cellmid’s midkine antibodies in autoimmune disease indications.

Autoimmune attacks can be mitigated by boosting Treg numbers through the use of midkine antibodies.

In animal models of autoimmunity, inhibiting MK using Cellmid’s MK antibodies alleviated disease.

The new European patent for this method is the third member of the patent family for Cellmid.

The U.S. patent was granted in 2012 and the Japanese patent was granted in 2013.

The patents in this family expire in 2027.


Midkine program

Cellmid’s first-in-class antibodies program includes development of the drug CAB102, which has been demonstrated in formal tests to be a ground breaking method of targeting midkine.

Earlier this year, the company entered into a research and development loan agreement to receive A$1 million for the program.

Recent work across Cellmid’s midkine portfolio has also included the following:

- The company commenced its preclinical collaboration with Complutense University of Madrid, Spain to explore therapeutic opportunities for CAB102, as co-therapy with existing drugs, in glioblastoma.

- The appointment of Dr Bryce Vissel as Chairman of the Scientific Advisory Board triggered fresh activities around the midkine portfolio, including opening negotiations for new collaborations.

- Assay development for the planned human clinical studies has continued during the quarter following the results of the single dose toxicity studies.

- The company’s CAB102 antibody is currently in stability testing prior to multidose toxicity studies.

- Midkine diagnostic collaborations continue to deliver new data in cancer and kidney disease supporting existing collaborations and new license opportunities.


More patent success

Grant of the European patent for midkine treatment of autoimmune disorders follows quickly on the grant of a Japanese patent covering the use of midkine for hair growth treatment.

This patent encompasses the use of this technology in shampoos, conditioners, creams and lotions until 2031.

The new Japanese patent is the third member of Cellmid’s midkine patent family for hair growth to be accepted, following the granting of the UK and Australian patents.

Other patents are filed or are under examination in the U.S., Europe, China, Hong Kong and Korea.

This patent family adds to the already considerable intellectual property assets of Cellmid’s wholly owned anti-aging hair growth subsidiary, Advangen, which includes patent protection and extensive knowhow around its FGF5 inhibiting technologies, cell based assays, formulations and brands.

FGF5 is a protein associated with hair loss.


Analysis

The grant of a European patent for Cellmid’s midkine-based treatment of autoimmune disorders further underpins the prospectivity of the commercial development of this intellectual property.

It also geographically diversifies the company’s push to develop the technology following the grant of similar patents in the U.S. and Japan in recent years.

This development can likewise be interpreted as a broader reinforcement of the strength of Cellmid’s midkine portfolio, which includes work in cancer diagnostics and hair growth/anti-ageing treatments.

As such, Cellmid grants are effective in protecting rights to this portfolio of intellectual property assets while also adding value over time.

Cellmid patents for the use of midkine in hair growth have now been granted in Japan, Australia and the UK.

The company’s 175% jump in cash holdings over the three months to September to A$4.4 million is expected to underpin increased marketing and advertising efforts as these products continue to penetrate new markets.

The company’s latest patents, its dramatic 320% year-on-year increase in sales receipts and its strong investor support in the form of an oversubscribed $4 million placement have all signalled important progress in business development.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 01 Dec 2015 11:20:00 -0500 https://www.proactiveinvestors.com/companies/news/151837/cellmid-supports-autoimmune-disease-treatment-with-european-patent-65914.html
<![CDATA[News - Cellmid granted Japanese patent for hair growth ]]> https://www.proactiveinvestors.com/companies/news/151836/cellmid-granted-japanese-patent-for-hair-growth--65780.html Cellmid (ASX:CDY) has marked a major boost in the development of its hair growth asset portfolio with the grant of a Japanese patent covering shampoos, conditioners, creams and lotions until 2031.

The patent protects the use of midkine and the closely related protein pleiotrophin for use as hair loss and/or hair growth treatments.

Midkine is a protein that is emerging as an important new target for drug development in the treatment of a number of diseases.

It also modulates many biological interactions such as cell growth, cell migration and cellular adherence.

The new patent is the third member of Cellmid’s midkine patent family for hair growth to be accepted, following the granting of the UK and Australian patents.

Other patents are filed or are under examination in the U.S., Europe, China, Hong Kong and Korea.

This patent family adds to the already considerable intellectual property assets of Cellmid’s wholly owned anti-aging hair growth subsidiary, Advangen, which includes patent protection and extensive knowhow around its FGF5 inhibiting technologies, cell based assays, formulations and brands.

FGF5 is a protein associated with hair loss.

Advangen’s products are on sale in Australia and Japan, closely followed by Taiwan and China.


Corporate update

New traction in expanding markets for midkine hair treatment methods has followed quickly on significant financial momentum for Cellmid.

Last month, the company reported record cash receipts from customers of over $1 million for 1Q2016. Compared with the same period last year, receipts were up 320%.

Strong sales also exceeded internal projections reaching $713,000 for the quarter (up from $180,000 same period last year). This was especially pleasing as the pharmacy distribution, a precursor to sales, is rapidly growing towards the target 2,000 stores in Australia.

Cellmid reported cash at the end of September of A$4.4 million, representing about a 175% increase over cash and cash equivalents at the end of June of $1.6 million.

This improvement followed a $4 million capital raising via an oversubscribed share placement aimed at supporting sales initiatives targeting medical professionals and pharmacies as well as an advertising program with multiple channels.


Analysis

The new Japanese patent illustrates that Cellmid is set to take a leading role in the rapidly growing market for hair growth and anti-aging hair care technologies.

Anti-aging is one of the fastest growing segments of the $90 billion annual hair care market.

Hair loss, caused by age and androgenic factors, is a condition that affects around 30% of women and 50% of men over 40.

The dearth of effective products that prevent hair loss and regenerate resting hair follicles, therefore, establishes a significant first-mover opportunity for Cellmid as it increases exposure for its products in this field.

The patent adds to the fast growing intellectual property assets of wholly owned anti-aging hair growth subsidiary, Advangen Limited, accretive to Cellmid shareholder value.

Cellmid’s 175% jump in cash holdings over the three months to September is expected to underpin increased marketing and advertising efforts as the company’s products continue to penetrate new markets.

Cellmid is the first and still the only company globally with an FGF5 inhibitor hair loss product. FGF5 inhibition represents the only novel science in topical hair loss treatments for 30 years.

The company’s dramatic 320% year-on-year increase in sales receipts and its strong investor support in the form of an oversubscribed $4 million placement have signalled important progress in business development.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 24 Nov 2015 15:57:00 -0500 https://www.proactiveinvestors.com/companies/news/151836/cellmid-granted-japanese-patent-for-hair-growth--65780.html
<![CDATA[News - Cellmid marks higher sales on stronger financial footing ]]> https://www.proactiveinvestors.com/companies/news/151835/cellmid-marks-higher-sales-on-stronger-financial-footing-65316.html Cellmid (ASX:CDY) is reporting record cash receipts from customers of over $1 million for 1Q2016. Compared with the same period last year receipts have been up 320% ($244K in 1Q2015).

Strong sales have also exceeded internal projections reaching $713K for the quarter (up from $180K same period last year). This is especially pleasing as the pharmacy distribution, a precursor to sales, is rapidly growing towards the target 2,000 stores in Australia.

The biotech company has also reported large increases in cash holdings and sales as distribution, marketing and advertising plans for the company’s évolis hair growth products advance.

Cellmid reported cash at the end of the September quarter of A$4.4 million, representing about a 175% increase over cash and cash equivalents at the end of June of $1.6 million.

This improvement followed a $4 million capital raising early in the quarter, which allowed a commencement of the marketing and advertising plan, including the deployment of sales teams to medical professionals and pharmacies as well as an advertising program with multiple channels.

The cash raising was achieved via an oversubscribed placement of shares priced at $0.03 and laid the foundation for FY2016 sales to significantly exceed the previous year.

Shares in Cellmid last closed at $0.032, representing about a 40% increase since June.


Consumer health division

During 1Q2016 Cellmid started to implement its marketing and advertising plan. Distribution and sales are ahead of internal targets set out during 4Q2015 as follows:

- Pharmacy distribution was planned to reach 1,000 by the end of C2015. This number currently stands at 982 active stores and the company is well on track to outperform. As the number of stockists is increasing, so are the expected sales with the majority of the Australian revenue likely to flow from the last two quarters of the 2016 financial year.

 -  Stocking of the extended 6 SKU évolis® product range is on track with approximately 300 stores active and another 200 expected to be ordering by the end of C2015.

- Sales visits to general practitioners by the 18 member contract team continued during the quarter with close to 6,000 new individual calls. The positive feedback from doctors, pharmacies, and the subsequent sell-through, continued during the quarter.

- A pharmacy sales team started in mid-October to coincide with the advertising campaign. This is expected to result in not only new pharmacy doors opening but also thorough coverage of the existing stores. One of the key objectives of the team is to ensure that stock levels are adequate for all products on shelves.

- National advertising campaign commenced in September as planned and early indicators show that both brand awareness and sales are increasing. For the first time évolis® products have measurable market share amongst topical hair loss treatments.

- Product development of the consolidated évolis® branded salon range has been completed during the quarter with 13 SKU’s ready for manufacture and launch in 4Q2016. This is expected to contribute to the FY2016 revenue.

Cellmid’s Japanese sales are above target for the quarter and reflect the substantially improved sales channels. Andeprong® Scientist is yet to be launched by Natural Garden, while QVC sales continue to outperform expectations with some major sales timeslots in the coming months.


Midkine division

Cellmid is also pursuing a first-in-class antibodies program, including development of the drug CAB102, which formal tests have demonstrated to be a groundbreaking method of targeting midkine.  Midkine is a protein that is emerging as an important new target for drug development in the treatment of a number of diseases.

Earlier this year, the company entered into a research and development loan agreement to receive A$1 million for the program.

Cellmid continued to work on all of its midkine portfolio related initiatives during the September quarter as follows:

- The company commenced its preclinical collaboration with Complutense University of Madrid, Spain to explore therapeutic opportunities for CAB102, as co-therapy with existing drugs, in glioblastoma.

- The appointment of Dr Bryce Vissel as Chairman of the Scientific Advisory Board triggered fresh activities around the midkine portfolio, including opening negotiations for new collaborations.

- Assay development for the planned human clinical studies has continued during the quarter following the results of the single dose toxicity studies.

- The company’s CAB102 antibody is currently in stability testing prior to multidose toxicity studies.

- Midkine diagnostic collaborations continue to deliver new data in cancer and kidney disease supporting existing collaborations and new license opportunities.


Analysis

A dramatic 320% year-on-year increase in sales receipts and strong investor support in the form of the oversubscribed $4 million placement have signalled important progress in Cellmid’s business development strategy in recent weeks.

The company’s évolis® products demonstrated significant potential during the past quarter in acquiring a measurable market share amongst topical hair loss treatments for the first time.

Sales in FY2016 are expected to grow further given that in Australia, the company has yet to ship products to 70% of its planned distribution while its GP sales force only started in May.

Cellmid is the first and still the only company globally with an FGF5 inhibitor hair loss product. FGF5 inhibition represents the only novel science in topical hair loss treatments for 30 years.

The midkine business has also showed increased promise, with new momentum on the back of the appointment of Dr Bryce Vissel as Chairman of the Scientific Advisory Board.

Vissel’s outstanding scientific and clinical experience has allowed for important progress with some of the company’s collaborations, including a recent brain cancer collaboration with Complutense University.

Cellmid holds the largest and most comprehensive portfolio of intellectual property related to midkine and midkine antagonists globally.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 28 Oct 2015 09:29:00 -0400 https://www.proactiveinvestors.com/companies/news/151835/cellmid-marks-higher-sales-on-stronger-financial-footing-65316.html
<![CDATA[News - Cellmid's multi-pronged business model to pay off ]]> https://www.proactiveinvestors.com/companies/news/151834/cellmids-multi-pronged-business-model-to-pay-off-64783.html Fast growth in Cellmid’s (ASX:CDY) revenue-generating consumer health division is synergising with progress toward commercialisation of company products in the massive cancer, ischemia and inflammatory disease sectors.

Recent traction in both Cellmid’s consumer health and disease treatment divisions has illustrated that the diversity of the company’s portfolio may be a key advantage as a strategy of global customer outreach rolls out.

In consumer health, the latest advances have included the launch of a national advertising and media campaign for the company’s évolis® branded FGF5 inhibitor hair growth products in Australia. FGF5 is a protein associated with hair loss.

The 12-month campaign, which started late last month, is the third component of its three-pillar strategy to maximise market penetration. Cellmid will target men over 25 and women over 35 with promotional materials on major media channels including YouTube, channel 7 and Foxtel.

This followed a successful initiative in July to raise A$4 million with new investors for leveraging hair growth product sales growth.

The évolis® push is accelerating at the same as new research report from Netherlands and New York life sciences research firm Van Leeuwenhoeck highlights Cellmid’s new milestones in developing its intellectual property in disease treatment.

Earlier this year, the company entered into a research and development loan agreement to receive A$1 million for its first-in-class antibodies program. This work includes development of the drug CAB102, which formal tests have demonstrated to be a groundbreaking method of targeting midkine.  Midkine is a protein that is emerging as an important new target for drug development in the treatment of a number of diseases.

Cellmid recently signed a deal with Complutense University in Spain to assess the efficacy of CAB102 in brain cancer studies.


A bullish review

The Van Leeuwenhoeck report, released earlier this month, identified that Cellmid was deeply undervalued at the current share price of $0.03. It instead calculated the company’s current total value at $80 million, or $0.086 per share.

This is based on the current value of évolis® and the further rollout of consumer care business in Australia, Asia and North America.

The report also indicated that Cellmid’s status as a world leader in anti-midkine research made the company a potential partner for a large pharma or biotech company.


Growing opportunities

Cellmid is targeting évolis® sales in the U.S., Brazil, China, Japan and Germany, citing these countries as making up half of the total global hair care market, which was valued at $90 billion in 2014.

Market growth for the anti-aging hair care segment alone is forecast at over 20% between 2014 and 2018.

Hair loss is an underlying issue with half of all men and women experiencing some degree of hair loss by the age of 50. Anti-aging hair care is the fastest growing segment in hair care.

Marketing by the company on the disease treatment end has included the signing of three diagnostic licenses to date. This has included the signing of a license for patents for the use in their bladder cancer diagnostic test to Pacific Edge Biotechnology Limited in 2010.

Pacific Edge has since developed and successfully launched a test in the U.S. for the early diagnosis of reoccurring bladder cancer. This has precipitated $1 million in licensing revenue for Cellmid and a royalty of $68,000 for the first part year of sales.

Van Leeuwenhoeck notes that if Pacific Edge is targeting sales of $100 million in year 5 for the bladder cancer test, this would represent annual revenue of about $4 million for Cellmid under the 4% royalty.


Analysis

Cellmid is the first and still the only company globally with an FGF5 inhibitor hair loss product. FGF5 inhibition represents the only novel science in topical hair loss treatments for 30 years.

The recent capital raising is expected to fund Australian marketing and entry into the biggest global markets, including the U.S. and Europe.

The company has already started the process with the appointment of EAS Advisors, who have a track record in assisting Australian companies transitioning into the U.S. market.

Pharmacy évolis® was carried in 230 active doors in 2014 for revenue of $400,000. By 2016, Pharmacy 2000+ doors by 30 June 2016 could carry the brand and revenue could top $4 million.

The U.S. is still the largest and most sophisticated cosmetic and pharma market and Cellmid’s consumer health products are suitable for multiple channels there such pharmacies, cosmetics retail, online and television shopping.

So, the big picture for Cellmid is how effectively it can capture some of the biggest markets outside of Australia.

The company’s recent clinical study showed that the new évolis® ONE formulation reduces hair loss by 80%, increases growing follicles by 44% and improves hair volume and quality by 135%.

These are very strong numbers and place Cellmid into a product leadership position in this segment globally which will see launch of the product in one of the key overseas markets first.

Cellmid’s revenue generating consumer health division is an undervalued asset, resulting in substantial upside from the current share price.

Added to this, Cellmid holds the largest and most comprehensive portfolio of intellectual property related to midkine and midkine antagonists globally.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 02 Oct 2015 10:15:00 -0400 https://www.proactiveinvestors.com/companies/news/151834/cellmids-multi-pronged-business-model-to-pay-off-64783.html
<![CDATA[News - Cellmid receives $0.08 valuation: new research report ]]> https://www.proactiveinvestors.com/companies/news/151833/cellmid-receives-008-valuation-new-research-report-64513.html Cellmid (ASX:CDY) is the subject of a research report from Netherlands and New York biotechnology and life sciences research firm Van Leeuwenhoeck.

Here is a summary of the report:

Cellmid Limited (ASX:CDY) is an Australian biotechnology company with a revenue generating consumer health division and a strong pipeline around a novel target, midkine (MK), with applications in the treatment of cancer and inflammatory diseases.

Cellmid has a fast growing consumer health division, which is generating increasing revenues from the Company’s proprietary FGF5 inhibitor hair growth products. Via its wholly owned subsidiary, Advangen, the Company develops and sells scientifically validated treatments for various forms of hair loss (alopecia). Its branded product, évolis®, contains natural extracts that inhibit FGF5, a growth factor that regulates hair growth.

Recently, a 32 patient clinical study showed strong positive results in both reduction of hair loss and increase in hair growth for the product.

Cellmid acquired the Advangen business in 2013 and has closed its first full year of operation in 2014 with AUD 1.15 million revenue. In 2015 the Company’s revenues increased by 63% to AUD 1.82 million and it is expected to generate close to AUD 4 million during the 2016 financial year from sales in Australia and Japan alone.

Cellmid is expected to expand its distribution globally during the coming years, with the key target markets of US, Europe and China.

In addition to this revenue generating business Cellmid holds the largest and most comprehensive portfolio of intellectual property related to the novel target MK and MK antagonists globally.

The Company’s most advanced development programs involve using its anti-MK antibodies for the treatment of cancer and inflammatory conditions in addition to commercializing MK as a biomarker for the early diagnosis and prognosis of cancer.

Its first in class MK antibody drug, CAB102, was the first ever anti-MK drug subject to formal toxicology tests and showed no dose limiting toxicities in a single dose study of rats and cynomolgus macaques. Cellmid is currently planning its ‘first in men’ clinical study for CAB102.

Recently, the company was successful in raising AUD 4 million with new investors to leverage its sales growth in relation to its FGF5 inhibitor hair growth products. Earlier this year, the company entered into an R&D advance loan agreement to receive A$1 million to accelerate its research and development into the CAB102 program.

The current cash level should be sufficient to continue the development of its MK programs as well as rolling out the marketing of its évolis® products in Australia.

Based on NPV based valuation, we believe that Cellmid is clearly undervalued at the current share price of AUD 0.03. Using our valuation model, the Company’s current total value is AUD 80 million, or AUD 0.086 per share.

This is based on the current value of évolis® and the further roll out of its consumer care business in Australia, Asia and North America. This valuation represents a substantial upside from the current share price.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 14 Sep 2015 14:38:00 -0400 https://www.proactiveinvestors.com/companies/news/151833/cellmid-receives-008-valuation-new-research-report-64513.html
<![CDATA[News - Cellmid in évolis® hair loss pitch to Australian women ]]> https://www.proactiveinvestors.com/companies/news/151832/cellmid-in-volis-hair-loss-pitch-to-australian-women-64231.html Cellmid (ASX:CDY) is launching a national advertising and media campaign to contribute to brand development and increase sales of its évolis® branded FGF5 inhibitor hair growth products in Australia.   

The 12 month campaign, which launches on 30th August 2015, is the third component of its three pillar strategy to maximise market penetration of its products.

It will primarily target women suffering from hair loss or hair thinning and it is expected to build brand recognition and sales through pharmacy retail and online.   

The other two components are expanding pharmacy distribution and hiring contract sales teams.   

Cellmid’s campaign will include free-to-air and subscription channels. It will run over several months using a combination of 30 second and 15 second ads across the board.

Sydney-based Ikon Group is providing creative brand development and positioning services as well as implementing a comprehensive media strategy for the company’s hair products.

Emma Chen, general manager of Cellmid’s consumer health business, commented:

“This is a very exciting, major media campaign for our FGF5 inhibitor hair loss products.

“We are especially delighted to be the first ones to bring an innovative solution to women with hair thinning or hair loss concerns through this campaign.”


Advertising Campaign

The campaign will include television, digital and social channels as well as engagement with key influencers, bloggers and opinion leaders.

It is expected to last twelve months and will also serve as test marketing for Cellmid’s global brand development plans.

This will include free-to-air and subscription channels using a combination of 30 second and 15 second ads across the board. Programs targeted will be those focused on lifestyle, reality and drama.


Australian Sales

In May 2015, the company increased its product offerings from two to six stock keeping units and commenced the broadening of its pharmacy distribution.

This resulted in an increase in sales in 4Q FY2105 to $960,000 bringing full-year sales up to $1.84 million for its FGF5 inhibitor hair growth products.

This is up 63% on the last financial year.

It also lays the foundation for FY2016 sales to significantly exceed the previous year.


Analysis

The launch of Cellmid’s media and advertising campaign targeting women is part of the company’s plans to further increase sales of its évolis® branded FGF5 inhibitor hair growth products in Australia.

This could address a sizeable market given that around 30% of women over 35 experience significant hair loss either transiently or permanently.

Adding to that, independent market research conducted Australia wide on just over 1000 women revealed that 38% of women above 34 are concerned their hair is thinning with 47% having not sought help as they didn’t think anyone could offer any solution.

Other research has also indicated that 40% of women experience visible hair loss by the age of 40.

Sales have already been on a growth path with 4Q results of $960,000 making up about half of FY2105 sales.

Adding to this, the company has yet to ship products to 70% of its planned pharmacy distribution while its GP sales force only started in May 2015.

In July, it raised $4 million through an oversubscribed placement of shares priced at $0.03 to leverage increasing sales and further expand its growth in Australia and internationally.

The company had $1.58 million in cash as at 30th June 2015.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 27 Aug 2015 15:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151832/cellmid-in-volis-hair-loss-pitch-to-australian-women-64231.html
<![CDATA[News - Cellmid director Dr Edward Fintan Walton acquires shares on-market ]]> https://www.proactiveinvestors.com/companies/news/151831/cellmid-director-dr-edward-fintan-walton-acquires-shares-on-market-63981.html Cellmid (ASX:CDY) non-executive director Dr Edward Fintan Walton has acquired $10,640 worth of shares in the company through an on-market purchase.

This gave the PharmaVentures Ltd founder, who was appointed to the board in July 2015, an initial holding of 300,000 shares in the company.

Shares in CDY last traded at $0.036.

Earlier this week, Cellmid partnered with EAS Advisors to support expansion of its hair growth products into the U.S. hair care market, which reached sales of US$11.6 billion in 2014.

New York-based investment advisory firm EAS was founded by Eddie Sugar in 2008.

EAS recently supported Yowie Group (ASX:YOW) and Alexium International Group (ASX:AJX) with their U.S. growth plans.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 14 Aug 2015 07:30:00 -0400 https://www.proactiveinvestors.com/companies/news/151831/cellmid-director-dr-edward-fintan-walton-acquires-shares-on-market-63981.html
<![CDATA[News - Cellmid partners with EAS Advisors for U.S. expansion ]]> https://www.proactiveinvestors.com/companies/news/151830/cellmid-partners-with-eas-advisors-for-us-expansion--63958.html Cellmid Limited (ASX:CDY) has partnered with EAS Advisors to support expansion of its hair growth products into the U.S. hair care market, which reached sales of US$11.6 billion in 2014.

Cellmid lays claim as the only company globally with an FGF5 inhibitor hair growth product on the market.
   
New York-based investment advisory firm EAS was founded by Eddie Sugar in 2008.

Cellmid reported strong sales growth for FY2015 with its sales and advertising campaign expected to further grow revenues of its évolis® branded FGF5 inhibitor consumer products in Australia.

It plans to replicate its strategy of a retail distribution model based initially on pharmacies in the U.S where there are more than 20,000 pharmacies.

In addition, its proprietary active ingredients are suitable for out-licensing to other brand owners either as active ingredients or fully formulated products.

EAS will work with Cellmid to provide strategic support in the company’s U.S. growth activities and exposure to local investors.

Maria Halasz, chief executive officer, commented:

“EAS has a successful track record assisting Australian companies maximise their U.S. growth potential. We are delighted to be one of the select companies they decided to work with.”


Recent Activity

In the fourth quarter of FY2015, Cellmid’s consumer health business delivered sales of $960,000 bringing full-year sales up to $1.84 million for its FGF5 inhibitor hair growth products.

This is up 63% on the last financial year.

It also lays the foundation for FY2016 sales to significantly exceed the previous year.

In July, it raised $4 million through an oversubscribed placement of shares priced at $0.03 to leverage increasing sales and further expand its growth in Australia and internationally.


Analysis

The agreement with EAS Advisors will help drive sales of Cellmid’s hair growth products in the major U.S. market.

Sales in Australia already expected to grow given that the company has yet to ship products to 70% of its planned distribution while its GP sales force only started in May.

In Japan, it has broadened sales channels to five from two. This includes private label, duty free retail, TV shopping, export and website sales.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 12 Aug 2015 12:21:00 -0400 https://www.proactiveinvestors.com/companies/news/151830/cellmid-partners-with-eas-advisors-for-us-expansion--63958.html
<![CDATA[News - Cellmid raises $4M to drive sales growth ]]> https://www.proactiveinvestors.com/companies/news/151829/cellmid-raises-4m-to-drive-sales-growth-63724.html Cellmid Limited (ASX:CDY) has raised $4 million through an oversubscribed placement of shares priced at $0.03 to leverage increasing sales and further expand its growth in Australia and internationally.

Earlier this month, it upgraded its revenue guidance for the financial year ending 30th June 2015 to $2 million due largely to increased sales of its FGF5 inhibitor hair growth products.

Notably, half of this revenue was generated during the last quarter of FY2015 with Australian sales up more than 400% during the last quarter with its évolis® shampoos available in selected pharmacies since May 2015.

This lays the foundation for FY2016 sales to significantly exceed the previous year.

Besides its consumer health business selling the FGF5 inhibitor hair growth products, the company also operates two other strategic businesses: a high value therapeutic program in midkine and a cancer diagnostic asset portfolio.

The issue price of $0.03 represents a 20% discount to the 5 day volume weighted average price of the company’s shares immediately prior to the placement.

Shares in CDY last traded at $0.04.

Cellmid will issue about 116.7 million placement shares worth $3.5 million. Issuing of the remaining 16.7 million shares will be subject to approval by an extraordinary general meeting to be held on or about 8th September 2015.

KTM Capital acted as manager for the placement, which was supported by new institutional and sophisticated investors.


Consumer Health

Of the Total forecast revenue of $2 million, about $1.84 million is likely to be recorded for the consumer health business. This represents a 63% increase from last year.

Total sales during the last quarter of FY2015 when Cellmid started implementing its new business plan were about $958,000.

This compares with around $296,000 during the same period last year, a threefold increase.

In Australia, the company has brand its évolis® lotions over-the-counter listed medicines.

Its objective is to have by the end of 2015 its Active Packs, which contain both shampoos and lotions sufficient for 12 weeks, be available in over 1,000 pharmacies in Australia.

The company will also continue to develop its hair salon business, which is expected to deliver revenue in line with pharmacy revenue, although running 12 months later.

Later on in the FY2016, it plans to launch 15 products, all branded évolis®, to replace its Advangen® range in salons.

With a full range of active anti-aging hair care products and dedicated distribution, the company expects to see a dramatic increase in the number of salon retailers.

Cellmid will also focus on increasing online sales in Japan.

It expects to become the first Japanese company to use digital tools in the salon market, with technical presentation and ordering made handy by the use of a tablet.

This will reduce the burden from salons to carry stock for sale – a limiting factor for smaller businesses.

In Asia, the company will continue to build distribution for its existing brands, including Lexilis and Jo-Ju in China, both of which have import permits as quasi-drugs.

The more medium term opportunity is to launch évolis® ONE through distribution partners in the region.


Analysis

The oversubscribed placement to raise $4 million demonstrates the confidence institutional and sophisticated investors have in Cellmid and its growing sales revenue.

Already the company expects to deliver a 63% increase in revenue for its consumer health business to $1.84 million in FY2015 with half of this recorded in the last quarter.

Sales in FY2016 are expected to grow further given that in Australia, the company has yet to ship products to 70% of its planned distribution while its GP sales force only started in May.

Cellmid will also start its consumer advertising and pharmacy sales representation in September, which will increase the rate of sell through.

It has also broadened Japanese distribution from two sales channels to five dynamic ones, including private label, duty free retail, TV shopping, export and website sales.

Outside of these two regions, the company is in discussions with multiple parties in the U.S., Europe and Asia for the licensing and/or distribution of its products and technologies.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 30 Jul 2015 07:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151829/cellmid-raises-4m-to-drive-sales-growth-63724.html
<![CDATA[News - Cellmid Limited is a stock on the move ]]> https://www.proactiveinvestors.com/companies/news/151828/cellmid-limited-is-a-stock-on-the-move-63681.html Cellmid Limited (ASX:CDY) has been one of the star performing ASX bio-techs in recent months, and this is in a sector that as a whole has been positively re-rated.

Based on the last sale price of $0.04, shares are up over 80% in the past six weeks.

Propelling the share price was an upgraded revenue guidance earlier in the month to $2 million for financial year 2015.

This was driven by increased sales of its consumer health products in Australia and Japan.

Highlighting this momentum, half of this revenue was made during the last quarter of FY2015.

With a solid foundation in place, FY2016 sales have the potential to significantly exceed FY2015 sales.


Strong leadership

The revenue ramp-up has all been achieved under the leadership of CEO and managing director, Maria Halasz, who joined Cellmid seven years ago.

Halasz led the acquisition of the company’s current portfolio of midkine and FGF5 inhibitor assets.


Capital raising

Cellmid is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 30th July 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 28 Jul 2015 16:30:00 -0400 https://www.proactiveinvestors.com/companies/news/151828/cellmid-limited-is-a-stock-on-the-move-63681.html
<![CDATA[News - Cellmid appoints Dr Fintan Walton as a non-executive director ]]> https://www.proactiveinvestors.com/companies/news/151827/cellmid-appoints-dr-fintan-walton-as-a-non-executive-director-63564.html Revenue stage biotechnology company Cellmid (ASX:CDY) has appointed Dr Fintan Walton as a non-executive director.

He has worked with most major and mid-sized pharmaceutical and biotechnology companies over 33 years in the sector.

His experience extends to industries such as pharmaceuticals, diversified chemicals, diagnostics, medical devices, generic and over-the-counter medicines as well as government agencies. 

Walton has transactional experience representing corporates as well as major banks, investment and merchant banks, private equity and venture capital groups.

He is founder and chief executive officer of PharmaVentures Ltd, a UK-based corporate advisory firm with more than 30 professional advisers, assisting pharmaceutical and biotechnology companies worldwide in all aspects of corporate transactions, business brokering, mergers and acquisitions and licensing deals.

Since he founded PharmaVentures in 1992, he and his team have advised blue chip clients in North America, Europe and Asia, delivering more than 700 assignments for 180 companies in 38 countries.
   
Dr David King, Cellmid chairman, said:

“Fintan’s unparalleled transactional experience and understanding of the global deal making environment will be invaluable in both our midkine and consumer health businesses.”

Earlier this month, the company released preliminary results indicating that its consumer health revenue increased by about 63% for FY2015 to $1.84 million.

This is due to better than expected sales during 4Q 2015 from the company’s Japanese TV shopping and the Australian pharmacy businesses.

Australian sales were up more than 400% during the last quarter with its évolis® shampoos available in selected pharmacies since May 2015.

Cellmid seeks to have its Active Packs, which contain both shampoos and lotions sufficient for 12 weeks, available in over 1,000 pharmacies in Australia by the end of 2015.

The company will also focus on increasing online sales in Japan.

It expects to become the first Japanese company to use digital tools in the salon market, with technical presentation and ordering made handy by the use of a tablet.

This will reduce the burden from salons to carry stock for sale – a limiting factor for smaller businesses.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 21 Jul 2015 12:30:00 -0400 https://www.proactiveinvestors.com/companies/news/151827/cellmid-appoints-dr-fintan-walton-as-a-non-executive-director-63564.html
<![CDATA[News - Cellmid Limited lifts revenue guidance as sales jump ]]> https://www.proactiveinvestors.com/companies/news/151826/cellmid-limited-lifts-revenue-guidance-as-sales-jump-63375.html Cellmid Limited (ASX:CDY) has upgraded its revenue guidance to $2 million for the financial year ending 30th June 2015 due to the increased sales of its consumer health products in Australia and Japan.

Highlighting this momentum, half of this revenue was made during the last quarter of FY2015.

With a solid foundation in place, FY2016 sales should significantly exceed FY2015 sales.

The Australian pharmacy business will see an increased distribution from 230 actively ordering stores to 1,500 by the end of 4Q FY2015, with a target of over 2000 stores by the end of the calendar year.

This means that the évolis® range of hair growth products will be available nationally in more than 30% of all Australian pharmacies and stocked by all major distributors.

Cellmid’s Japanese distribution has also continued to improve.
   

Recent Activity

In June, the company made its first private label entry into the US$5 billion global hair growth and anti-aging hair care market with the signing of an agreement with Taiwan’s Maywufa Company Ltd (TPE:1731).

Maywufa owns the largest pharmacy franchise in Taiwan with more than 200 stores. Its sales network covers over 5,000 drug stores, general practitioners and hospitals.

It acts as exclusive distributor or agent to several large pharmaceutical and cosmetics companies representing major international brands as well as manufacturing and marketing products under its own Maywufa brand.

Under the agreement, Cellmid will manufacture and sell to Maywufa FGF5 inhibitor hair growth products under their brand.

Selling its FGF5 inhibitor products through private label supply agreements is a key expansion strategy for Cellmid, which is currently in negotiations with a number of international brand owners to grow this business further in the future.

Utilising established brand names and distribution channels compliments Cellmid’s drive to build its own évolis® brand.   


Analysis

Cellmid is delivering for shareholders, with a 45% increase in its share price to a 52 week high since early June 2015 on the back of revenue guidance to $2 million for FY2015.

We believe that 2016 and 2017 revenues will lift, making the current sharemarket valuation look very small.

That the last quarter of 2015 accounted for half of annual revenue is telling and a sign of a business and revenues about to grow rapidly in FY2016.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 09 Jul 2015 13:58:00 -0400 https://www.proactiveinvestors.com/companies/news/151826/cellmid-limited-lifts-revenue-guidance-as-sales-jump-63375.html
<![CDATA[News - Cellmid appoints Dr Bryce Vissel as chairman of scientific advisory board ]]> https://www.proactiveinvestors.com/companies/news/151825/cellmid-appoints-dr-bryce-vissel-as-chairman-of-scientific-advisory-board-63324.html Cellmid Limited (ASX:CDY) has appointed award winning researcher Dr Bryce Vissel as chairman of its scientific advisory board to guide efforts to translate its robust science into meaningful patient outcomes.

Vissel is currently the Head of the Neurodegenerative Diseases research group at the Garvan Institute of Medical Research.

He is also Conjoint Senior Lecturer at St Vincent's Clinical School, Faculty of Medicine, University of New South Wales.

Prior to that Dr Vissel worked for a decade at the highly prestigious Salk Institute in La Jolla, California, the world’s leading neuroscience laboratory.   

He was recruited by the Garvan Institute to Australia from California’s Salk Institute to establish and lead research in brain and spinal cord disorders and repair.

Dr Vissel’s research has been widely recognised internationally, and he has received a number of awards, including the prestigious Fulbright award, a Liebermann award and a BIOFIRST award.

He has published more than 50 peer-reviewed papers, many in top tier journals.

Maria Halasz, chief executive officer, said:

“Dr Vissel is a world-class researcher and his outstanding medical research experience will be invaluable in guiding Cellmid’s therapeutic development programs toward clinical success.

Dr Vissel added:

“Cellmid’s sharp focus on midkine underpins a range of therapeutic development programs for the company. This is because manipulating midkine therapeutically offers important potential for treating a range of diseases.

“My goal is to help realise this potential so that patients can benefit from the robust science underlying the company’s drug development programs.”

Last month, the company was issued a Notice of Allowance for a U.S. patent covering its lead humanised antibody CAB102 for the treatment of cancer.

This follows on patents already in force in Europe, Australia and Japan.

Cellmid holds the most significant intellectual property assets related to MK worldwide.
   
Its patent portfolio currently includes 88 patents in 21 patent families, which cover use of MK and anti-MK agents for therapeutic purposes in a number of diseases, as well as the use of MK as a diagnostic marker in cancer and other disorders.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 08 Jul 2015 07:00:00 -0400 https://www.proactiveinvestors.com/companies/news/151825/cellmid-appoints-dr-bryce-vissel-as-chairman-of-scientific-advisory-board-63324.html
<![CDATA[News - Cellmid receives U.S. patent covering CAB102 midkine antibody ]]> https://www.proactiveinvestors.com/companies/news/151824/cellmid-receives-us-patent-covering-cab102-midkine-antibody-63184.html Cellmid (ASX:CDY) has been issued a Notice of Allowance for a U.S. patent covering antibodies and antibody fragments which bind to the important functional C-domain of growth factor midkine.

This also includes composition of matter claims for MK-specific antibodies, including Cellmid’s lead humanised antibody CAB102.

The granted claims cover the use of any such antibodies for prevention and treatment of cancer, autoimmune diseases, inflammatory diseases, and any disease or disorder attributed to cell migration.   

This follows on patents already in force in Europe, Australia and Japan.

In numerous published studies, the MK C-domain has been demonstrated as the key region promoting signalling and pathology attributed to MK. Blocking the C-domain therefore represents a powerful potential treatment option in many MK-related diseases as has been shown in a number of animal models.

Maria Halasz, chief executive officer, said:

“Having this patent granted in U.S. for our MK antibodies across such a wide array of diseases is a tremendous commercial outcome for Cellmid.

“This patent adds to already covered territories of Europe, Japan and Australia. This family gives Cellmid strong and exclusive rights to develop MK antibodies unencumbered by competition.

“Moreover, Cellmid’s patent coverage for its therapeutic antibodies now extends across cancer, inflammatory and autoimmune diseases, and surgical adhesion.”

Cellmid holds the most significant intellectual property assets related to MK worldwide.
   
Its patent portfolio currently includes 88 patents in 21 patent families, which cover use of MK and anti-MK agents for therapeutic purposes in a number of diseases, as well as the use of MK as a diagnostic marker in cancer and other disorders.

Last week, the company made changes to its board to reflect its focus on accelerating the expansion of its consumer health business.

Graeme Kaufman and Martin Rogers have stepped down as non-executive directors of the company with effect from 30th June 2015 while Bruce Gordon will be appointed as a non-executive director from 1st July 2015.

Gordon has over 25 years of audit and finance experience in industries such as retail, healthcare, resources and manufacturing.

Earlier this month, Cellmid secured a $1 million research and development loan funding from Platinum Road that along with existing resources will allow it to accelerate the successful launch campaign of its évolis® hair growth products and proceed with the toxicology component of its preclinical anti-midkine antibody program.


CAB102

Cellmid’s lead humanised antibody CAB102 has showed no dose limiting toxicities in formal safety and toxicology studies performed in rats and non-human primates (cynomolgus macaques).

The results de-risk midkine as a therapeutic target and pave the way for its antibody program to proceed towards clinical studies.

Single doses of CAB102 were administered by intravenous infusion at 3 dose levels, 10, 50 or 100mg/kg.

Animals were monitored for 14 days post-dose for clinical observations, morbidities, weight changes, clinical chemistries and blood cell counts.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 29 Jun 2015 13:32:00 -0400 https://www.proactiveinvestors.com/companies/news/151824/cellmid-receives-us-patent-covering-cab102-midkine-antibody-63184.html
<![CDATA[News - Cellmid and Complutense University to tackle brain cancer ]]> https://www.proactiveinvestors.com/companies/news/151823/cellmid-and-complutense-university-to-tackle-brain-cancer-63068.html Cellmid (ASX:CDY) has entered into a research collaboration with a world leading research group at Complutense University in Spain to test its humanised and murine anti-midkine antibodies for the treatment of brain cancer.

The company's anti-MK antibodies were found to be highly effective at killing brain cancer cells and this will be further tested in vivo using state-of-the-art disease models.

The Complutense research group, headed by Associate Professor Guillermo Velsaco, are world leaders in the study of the molecular mechanisms that regulate brain cancer cell death, particularly via cannabinoid receptor signalling.

Midkine has been identified as the key signalling molecule promoting cancer stem cell growth and drug resistance in brain tumours.

A number of the company’s MK antibodies were highly effective at killing brain cancer cells including candidates with very high apparent potency.

Studies subject to the collaboration with Complutense University/IdISSC are expected to commence early in FY2016.

Previous work by Dr Velasco and his team identified MK as the key signalling molecule driving drug resistance in gliomas including its most deadly variant, glioblastoma multiforme (GBM).

Dr Velasco’s group also found that higher levels of MK in glioma and GBM patients were significantly correlated with more lethal disease variants.   

Based on these discoveries, Cellmid and Dr Velasco’s group collaborated to investigate whether Cellmid’s murine anti-MK antibodies can prevent glioma/GBM cell growth in vitro.

“There is now strong scientific evidence to show that MK plays a key role in promoting the growth and proliferation of the most drug-resistant and refractory versions of these deadly brain tumours,” said Dr Velasco.

“The next logical step is to try to blockade MK using Cellmid’s anti-MK antibodies, and this is what we will now do using orthotopic xenotransplantation disease models.”

Cellmid head of product development Darren Jones said:

“Each antibody in this program has different features to the others. The collaboration will determine which antibody gives us our strongest shot at clinical efficacy.

“Preliminary experiments by Dr Velasco’s group have already given us some insights, but performance in these state-of-the-art disease models will be the definitive test.”

Cellmid and Complutense University are now expanding their collaboration to a full pre-clinical validation program.

The company will provide a number of its anti-MK antibodies to Complutense University for testing, including already humanised antibody CAB102, with the aim of selecting a lead molecule to advance specifically in a glioma/GBM clinical program.


Brain Cancers

Glioma, and its most deadly variant GBM, are the most common types of malignant brain tumours, making up approximately 40% of all primary brain tumours and around 70% of all primary malignant brain tumours.

Glioblastoma is the most lethal form of any cancer.

Prognosis is extremely poor; median survival for GBM patients is approximately 14 months, with 70% of patients dead within 2 years of diagnosis, and over 90% dead within 5 years.

Currently gliomas and GBM are incurable; the standard treatment is maximal safe resection (surgery) where possible, followed by concurrent radiation and chemotherapy with temolozomide (TMZ). However, the rate of recurrence is almost 100%.

“There remains an urgent need for new treatments to improve patients’ prospects in glioma and GBM,” Cellmid chief executive officer Maria Halasz said.

“We are cautiously optimistic that anti-MK therapy might help to address this need, not only because of MK’s promotion of drug resistance, but also because MK is a key driver of cancer stem cell replenishment.

“In addition, gliomas are the most highly vascularised tumours. Recent clinical strategies in gliomas include targeting blood vessel growth with antiangiogenic agents.”


Analysis

Cellmid continues to progress the use of its anti-MK antibodies, working with Associate Professor Guillermo Velsaco and his world leading research group at Spain’s Complutense University to treat the most common types of malignant brain tumours.

Promisingly, Cellmid's anti-MK antibodies have shown strong anti-angiogenic activity in early studies.
    
Notably, Glioblastoma is an area of significant unmet need and committing to a combination therapy program means multiple collaboration opportunities in the future.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 23 Jun 2015 09:10:00 -0400 https://www.proactiveinvestors.com/companies/news/151823/cellmid-and-complutense-university-to-tackle-brain-cancer-63068.html
<![CDATA[News - Cellmid on path to clinical studies with midkine results ]]> https://www.proactiveinvestors.com/companies/news/151822/cellmid-on-path-to-clinical-studies-with-midkine-results-62916.html Cellmid Limited (ASX:CDY) lead humanised oncology anti-midkine antibody (CAB102) has showed no dose limiting toxicities in formal safety and toxicology studies.

The study results de-risks midkine as a therapeutic target and paves the way for its antibody program to proceed towards clinical studies.

In May 2014, CAB102 was selected as the company’s lead humanised anti-midkine antibody. It has demonstrated the greatest efficacy in reducing mean tumour volumes at 21 days post treatment by 50% when combined with carboplatin, the standard therapy in lung cancer.

“The lack of dose limiting toxicities in these studies is heartening for our CAB102 clinical plans,” head of product development Darren Jones said.

“These studies are the first ever to formally show that a well-designed MK-specific molecule has no deleterious side effects.”

Chief executive officer Maria Halasz added:

“There has been much discussion about the safety of targeting midkine for therapeutic purposes.

“A clean toxicology result for CAB102 not only increases our confidence in CAB102 itself being a safe molecule, but also suggests that MK as a target is druggable without triggering significant side-effects.”

As a final step towards gaining regulatory approval for clinical studies, further toxicology and safety studies will now be performed using multiple doses of CAB102 in rats and cynomolgus macaques.


Toxicology Studies

Cellmid engaged a leading US pre-clinical contract research organisation to conduct two studies using its humanized lead anti-MK antibody, CAB102.

The studies were performed in rats and non-human primates (cynomolgus macaques).

Importantly, the endogenous MK of both species has identical CAB102-binding properties as human MK.

As such, doses of CAB102 given to these species should recognise and interact with any MK in a way that is analogous to human dosing.

Single doses of CAB102 were administered by intravenous infusion at 3 dose levels, 10, 50 or 100mg/kg.

Animals were monitored for 14 days post-dose for clinical observations, morbidities, weight changes, clinical chemistries and blood cell counts.

At study end necropsies were performed with all major organs examined for gross abnormalities.

Histological specimens were also collected for further investigation in case of any irregularities.

CAB102 was well tolerated at all dose levels in both species. The only notable observation was a slight and transient decrease in red blood cells and increases in bilirubin in the cynomolgus macaques.

No such effect was seen in the rats.

Necropsies confirmed that there have been no CAB102-induced abnormalities or changes to organs of the treated animals.

Even at a very high dose of 100 mg/kg, which is up to 10 times higher than the anticipated maximum dose for humans, there have been no adverse effects seen.

This is significant as Cellmid purposely designed CAB102 to interact identically with the MK of other species as it does to human MK.

Therefore, when CAB102 is given to rats and cynomolgus macaques, it should recognise and neutralise these species’ own MK in a similar manner to that in humans.


Analysis

Cellmid is now making good progress towards clinical studies for its anti-midkine antibody CAB102 after successful formal safety and toxicology studies.

While further studies are required to gain regulatory approval, the latest results are promising given that even at a dose 10 times higher than anticipated for humans, the antibody had no adverse effects on the tested animals.

It is also notable for being the first studies ever to formally show that a well-designed MK-specific molecule has no deleterious side effects.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 15 Jun 2015 11:45:00 -0400 https://www.proactiveinvestors.com/companies/news/151822/cellmid-on-path-to-clinical-studies-with-midkine-results-62916.html
<![CDATA[News - Cellmid signs hair growth supply agreement with Taiwan's Maywufa ]]> https://www.proactiveinvestors.com/companies/news/151821/cellmid-signs-hair-growth-supply-agreement-with-taiwans-maywufa-62697.html Cellmid Limited (ASX:CDY) has made its first private label entry into the US$5 billion global hair growth and anti-aging hair care market with the signing of an agreement with Taiwan’s Maywufa Company Ltd (TPE:1731).

This combines Maywufa’s established Taiwanese brand name and extensive distribution channels with the company’s scientifically and clinically validated FGF5 inhibitor hair growth products.
   
Maywufa owns the largest pharmacy franchise in Taiwan with more than 200 stores. Its sales network covers over 5,000 drug stores, general practitioners and hospitals.

It acts as exclusive distributor or agent to several large pharmaceutical and cosmetics companies representing major international brands as well as manufacturing and marketing products under its own Maywufa brand.

Under the agreement, Cellmid will manufacture and sell to Maywufa FGF5 inhibitor hair growth products under their brand.

Selling its FGF5 inhibitor products through private label supply agreements is a key expansion strategy for Cellmid, which is currently in negotiations with a number of international brand owners to grow this business further in the future.

Utilising established brand names and distribution channels compliments Cellmid’s drive to build its own évolis® brand.   


FGF5 Inhibitor

Cellmid’s FGF5 inhibitor hair growth products are scientifically and clinically validated to reduce hair loss and increase the number of growing hair follicles.

They have been developed for moderate to medium level hair loss.

In a recent blinded, placebo controlled clinical study they showed a statistically significant 80.2% reduction in hair loss over 112 days (16 weeks) with twice daily use.

Hair differentiation, or anagen/telogen ratio, improved with an increase of 44.2% in growing hair follicles during the same period as analysed by the Van Scott “hair pluck” method.

Hair release and recovery was quantified by PhotoGrammetrix™ measurements and showed an improvement by a statistically significant 143.3%.

“This is the first private label contract for us that is with the biggest pharmacy chain in Taiwan,” chief executive officer Maria Halasz told Proactive Investors.

“The upside is their sales network that services 5000  plus locations, including drugstores, GPs and hospitals plus they are expanding into China.”


Recent Activity

In May, Cellmid secured a $1 million research and development loan funding from Platinum Road to accelerate the successful launch campaign of its évolis® hair growth products and proceed with the toxicology component of its preclinical anti-midkine antibody program.

The company also anticipates significant increase in sales in the fourth quarter of the 2015 financial year and beyond due to the expansion of pharmacy distribution in Australia and its Japanese growth.


Analysis

The private label supply agreement with Maywufa Company is part of Cellmid’s expansion strategy and is anticipated to drive further growth of its FGF5 inhibitor hair growth products.

Given that the company already anticipates significant increase in sales in the fourth quarter of the 2015 financial year, this could drive sales in the 2016 financial year and beyond.

Selling the Company’s FGF5 inhibitor products through private label supply agreements is a key expansion strategy and opportunity for fast growth of its product.

Maywufa owns the largest pharmacy franchise in Taiwan with more than 200 stores. Its sales network covers over 5,000 drug stores, general practitioners and hospitals.

The Taiwanese agreement provides a solid platform for entry into the China market in 2016. The global anti-aging hair care market is estimated at $5 billion. Cellmid is positioning itself to earn a piece of this growing pie.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 02 Jun 2015 12:11:00 -0400 https://www.proactiveinvestors.com/companies/news/151821/cellmid-signs-hair-growth-supply-agreement-with-taiwans-maywufa-62697.html
<![CDATA[News - Cellmid advancing plans for consumer health and midkine businesses ]]> https://www.proactiveinvestors.com/companies/news/66512/cellmid-advancing-plans-for-consumer-health-and-midkine-businesses-77620.html Cellmid (ASX:CDY) has a clean bill of health to implement its plans in the coming year, which includes increasing sales for its consumer health business and progressing its lead humanised oncology anti-midkine antibody (CAB102).

This will build on the activities it carried it out in the half-year ended 31st December 2014.

These included:

- Development and commercialisation of diagnostic and therapeutic products for the management of diseases such as cancer and various chronic inflammatory conditions by targeting midkine, an embryonic cytokine (Midkine Business); and
- Development and sale of over-the-counter (OTC) treatments to alleviate excessive and abnormal hair loss and re-establish the natural hair growth cycle (Consumer Health Business).


Midkine Business – Diagnostics

The company licenced its cancer diagnostic patents to Pacific Edge Biotechnology Limited in 2010 for the use in their bladder cancer diagnostic test.

The test was launched in Australia and New Zealand in 2012 and Pacific Edge reported on the opening of their USA based laboratory in September 2012. 

Cxbladder® was launched in the USA in March 2013 after Pacific Edge received their CLIA certification for its laboratories. 

In August 2013, Cellmid received a milestone payment in Pacific Edge shares (1,084,622 shares) at the time their sales activities commenced in the U.S 

The Pacific Edge shares have subsequently been sold on market.

During the half year ended 31 December 2014 Pacific Edge paid to the company $18,040 in royalties in relation to their license and announced the launch of a new triaging product for bladder cancer.

In February 2013, Cellmid signed an Option to Licence Agreement with Fujikura Kasei Co. Ltd for the use of its midkine antibodies in Fujikura’s latex diagnostic platform and for the use of a midkine diagnostic test for the early diagnosis of cancer in Japan only. 

In July 2013 Fujikura decided to exercise the option to licence the technology and paid a license fee of A$440,000.

During the half year ended 31st December 2014 Fujikura commenced the development of a midkine latex diagnostic test and clinical validation of their prototype assay in a limited sample population.

Cellmid also signed signed a licence agreement with Celera-Quest in 2009 enabling Celera-Quest to use midkine as one of six biomarkers in their test for the early diagnosis, prognosis and disease management of lung cancer. 

The company received an upfront payment at the time of signing, and a milestone payment will become payable by Celera-Quest at the time of regulatory clearance. 

In addition to the licence and milestone fee the licence agreement also provides for the payment of royalties on sales made by Celera-Quest. 

Celera-Quest provided their annual update to the company in June 2014 confirming that they continue to work diligently towards the launch of a lung cancer diagnostic test which includes midkine.

Cellmid continues to pursue several ongoing collaborations for the development of screening, prognostic or companion diagnostic products in multiple cancer indications.


Midkine Business – Therapeutics

In 2013, the company completed pre-clinical validation of its anti-midkine antibodies with several of its studies showing efficacy in cancer using pre-clinical animal models of the disease. 

Anti-midkine antibodies showed a reduction in angiogenesis, tumour growth and metastasis in various solid tumour types in these studies conducted in 2013. 

Subsequently, Cellmid generated humanised antibody candidates and selected its lead antibody drug (CAB102).

During the half year ended 31 December 2014 the Consolidated Entity progressed its GMP manufacturing of CAB102 by undertaking cell line development.

In November 2014, Cellmid signed an Option to License Agreement with Zoetis for the therapeutic use of its antibodies in companion animals. 

Zoetis is the largest animal health company in the world and has extensive experience in the development and commercialisation of animal health products. 

The terms of the agreement include upfront and exclusivity payments.


Patents

Cellmid was granted key patents during the half-year including “Antibody recognising C-domain of
midkine” in Japan and “Method of treatment or prevention of hair loss or for the enhancement of hair growth” in the UK. 

The company has a total patent portfolio which includes 21 patent families, 66 granted patents and 21 applications as well as two provisional patent filings.


Consumer Health Business
    
Cellmid’s Consumer Health business has been set up to exploit its midkine intellectual property for hair growth, as well as to develop, manufacture and sell additional products aimed at the hair health market. 

In late 2012, it acquired international rights to a range of FGF-5 inhibitor hair growth products, commenced GMP manufacture in Australia and listed important therapeutic claims with the TGA (Therapeutic Goods Administration).

During the half-year ended 31 December 2014, the company sold products largely to pharmacies, hair salons and through direct distributors and received a total revenue of $599,291 (31 December 2013: $445,080). 

In July 2014 a breakthrough scientific study was published in the Proceedings of the National Academy of Sciences (PNAS), one of the most prestigious journals internationally, validating the Consolidated Entity’s technology, FGF-5, as a key regulator of hair growth in humans.


Capital Raising

In December 2014, the company raised $1.3 million through a private placement of 54,726,086 shares priced at $0.023 each to sophisticated investors.


Financials

For the half-year ended 31st December 2014, Cellmid reported a 55% decrease in revenue to $685,183.

It recorded a net loss after tax of $1,000,119.

The company had $2.69 million in cash and cash equivalents at the end of the period.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 24 Feb 2015 17:30:00 -0500 https://www.proactiveinvestors.com/companies/news/66512/cellmid-advancing-plans-for-consumer-health-and-midkine-businesses-77620.html
<![CDATA[News - Cellmid targets substantial sales growth in 2015 ]]> https://www.proactiveinvestors.com/companies/news/66142/cellmid-targets-substantial-sales-growth-in-2015-77211.html Cellmid (ASX:CDY) expects to have substantial sales growth in the 2015 calendar year, building on its consumer health business delivering a 60% increase in sales for the December Quarter 2014.

This was achieved despite a reduced product range and distribution due to the ongoing rebranding in Australia.

The company is broadening its Australian pharmacy distribution to increase its footprint in this channel.

It also expects to double its salon sales force by the end of 2015 with a corresponding increase in sales.

“Our consumer health products have enormous market potential and our 2015 plans have been developed to turbocharge the business towards the market,” chief executive officer Maria Halasz said.

“All our Australian products, pharmacy and salon, will be brought under the single évolis brand, our pharmacy product range will increase from two to six and our salon offerings from six to fifteen products.”

The company is also progressing its lead humanised oncology anti-midkine antibody (CAB102) for use in solid tumours towards the next value inflection point.

It recently completed production of CAB102 and now has sufficient quantities of the drug product to complete tissue cross reactivity and single dose toxicology studies.

“For a ‘first in class’ antibody, such as our CAB102, these data sets will add substantial value to the program,” Halasz added.

“Not only they will enable us to reach a pre-IND meeting, but they will also facilitate our partnering discussions in relation to our other antibody assets.”


Advangen developments

The company’s Advangen research team in Japan started the year having secured Japanese Government funding for new equipment. 

Under the “Monozukuri” grant program, Advangen may receive up to 23 million yen ($240,000) in reimbursement for research equipment purchased during the qualifying period.

In recent months, it has fine-tuned data from its highly predictive whole hair assay for the accurate assessment of hair growth potential for its new compounds.

The recent data on the company’s novel, patented compounds are encouraging, showing FGF5 inhibition and strong hair growth promotion.

Adding to interest, its collaboration with Chiba University’s Professor Taiichi Sakamoto is expected to deliver aptamers designed to bind specifically to and inhibit FGF5.

These will be the first nucleic acid based compounds for hair-growth in the world and could mean new, patented products.

Cellmid’s products are also being tested in collaboration with leading Tokyo University surgeon Dr. Kotaro Yoshimura, a specialist in plastic and reconstructive surgery who runs a hair growth research team using in-vivo, in-vitro and ex-vivo systems.

In addition, Kikkoman, the number one soy sauce producer in the world, has agreed to use their proprietary recombinant protein production system for the production of FGF5S, at their cost.

FGF5S is a truncated peptide of FGF5, which has previously been reported by AIST, the National Institute of Advanced Industrial Science and Technology, to inhibit biological functions of FGF5. 

As one of the company’s intellectual property assets, Cellmid has an exclusive license to use FGF5S in its products. Kikkoman will be the first group able to produce biologically active and stable FGF5S.


Intellectual Property

Recently, Cellmid has had three significant patents granted in key geographical regions over the use of midkine (MK) and anti-MK agents in the treatment of several diseases and conditions.

These add to the company’s already comprehensive intellectual property protection for its MK based therapeutics and MK antibodies including CAB102.


Midkine Research

Global research on MK is continuing, advancing Cellmid’s understanding of the molecule and adding to the data set supporting its intellectual property.

The MK literature now stands at approximately 680 papers, and since June 2014 MK has been the subject of 20 new papers.

Some highlights include:

- Cancer: Yet more clinical evidence that higher MK levels correlate with more deadly disease. Five recent studies affirm this to be true for stomach cancer, thyroid cancer plus brain tumours. These studies further reinforce the central role that MK plays in the progression of many tumor types, highlighting the opportunity that MK offers as both a biomarker and a target in oncology.
- Kidney injury and disease: Three studies in very different renal disease settings concluded that MK expression correlated strongly with kidney damage. Importantly, one group of researchers found that kidney damage was greatly reduced in a MK-knockout mouse model of lupus nephritis, thereby showing that MK is not merely a marker of lupus nephritis kidney damage it is a key driver of damage.
- Midkine as a treatment for osteoarthritis (OA): Cellmid’s collaborator Professor Wei Han of Regeneromics (Shanghai, China) published a study of OA induced in a mouse model. Injections of MK into joints affected by OA were able to prevent cartilage degradation. The group also reported that the treatment was apparently safe; no toxicological effects were seen during dosing, and post mortem pathology on the major organs showed no evidence of abnormality.
- Midkine as a treatment for congestive heart failure (CHF): It is already well known that MK can alleviate cardiac damage due to ischemia (blockage of the coronary artery, which is crucial to keeping the heart beating). A recent study has now also found that treatment with MK can treat heart failure due to non-ischemic origins. 


Zoetis Option Agreement

The recent option agreement with Zoetis, the world’s largest animal health company, for the evaluation and option to license of one of Cellmid’s anti-midkine antibodies for therapeutic use in companion animals offers the company opportunities in animal health.

Companion animals are a growing market opportunity and have generated much of the growth in the animal health market in recent years.

Formerly the animal health unit of Pfizer, Zoetis was spun out in 2013 and is currently capitalised at US$23 billion.

Zoetis’ diverse and strong product portfolio and an exceptionally capable and experienced sales team led it to generate US$4.6 billion annual revenue in 2013, 36% of which was generated from its companion animal product portfolio.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 11 Feb 2015 10:51:00 -0500 https://www.proactiveinvestors.com/companies/news/66142/cellmid-targets-substantial-sales-growth-in-2015-77211.html
<![CDATA[News - Cellmid granted U.S. patent for midkine to treat heart failure ]]> https://www.proactiveinvestors.com/companies/news/65499/cellmid-granted-us-patent-for-midkine-to-treat-heart-failure-76478.html Cellmid Limited (ASX: CDY) has been granted a U.S. patent for the use of midkine as a treatment for heart failure which commonly follows non-fatal heart attacks.

The grant of patent application 11/720,983 entitled "Composition for treating or preventing myocardial disorder or heart failure" follows equivalent patents granted in Europe and Japan.

Cellmid’s patent portfolio currently includes 87 patents in 20 patent families, which cover the use of MK and anti-MK agents for therapeutic purposes in a number of diseases, as well as the use of MK as a diagnostic marker in cancer and other disorders.

In published studies using in vivo animal models, MK treatment following heart attack potently promotes new blood vessel growth in the affected tissue (angiogenesis), limits cardiac dysfunction, promotes ventricular tissue repair and increases long term survival rates. 

Significantly, MK is effective even where treatment initiation is delayed for weeks after infarct.

“This patent reinforces Cellmid’s comprehensive intellectual property position in using MK therapeutically,” chief executive officer Maria Halasz said.

“Through several global patent families Cellmid’s patent coverage now extends across a number of related mechanisms of action.”

Head of product development Darren Jones added that midkine could become an important agent in the treatment of heart failure.

“In an acute setting MK prevents cardiomyocyte death at the time of the heart attack. In the longer term MK promotes beneficial fibrosis and angiogenesis in the cardiac muscle in the weeks following a heart attack,” he said.


Analysis

The U.S. patent provides further protection for Cellmid’s midkine treatment for heart failure.

This demonstrates the company’s intellectual property leadership in several therapeutic areas which could give rise to a strong pipeline and multiple licensing opportunities.

Its intellectual property portfolio includes 87 patents in 20 patent families, which cover the use of MK and anti-MK agents for therapeutic purposes in a number of diseases as well as a diagnostic marker in cancer and other disorders.

This will follow on Cellmid’s well established track record of deal making, including the cancer diagnostic licenses that are generating revenue already and the recently signed agreement with Zoetis, the largest animal health company in the world.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 21 Jan 2015 13:13:00 -0500 https://www.proactiveinvestors.com/companies/news/65499/cellmid-granted-us-patent-for-midkine-to-treat-heart-failure-76478.html
<![CDATA[News - Cellmid granted Australian patent for midkine hair growth ]]> https://www.proactiveinvestors.com/companies/news/65278/cellmid-granted-australian-patent-for-midkine-hair-growth--76226.html Cellmid (ASX:CDY) has received a key Australian patent for use of midkine to prevent and treat hair loss and to promote and enhance hair growth.

This patent is the second member of the extensive midkine patent family for hair growth to be accepted, following the receipt of a UK patent on 16 July 2014.

Shares in the company should trade higher today on the news.

The company received official Notice of Acceptance from IP Australia for Cellmid’s patent application 2011220326 entitled Method of treatment or prevention of hair loss or for the enhancement of hair growth.

This patent protects the use of midkine and the closely related protein pleiotrophin for use as hair loss and/or hair growth treatments. 

The granted claims cover topical formulations of all kinds, including shampoos, conditioners, creams and lotions with protection until 2031.

This patent family adds to the already considerable intellectual property assets of Cellmid’s wholly owned anti-aging hair growth subsidiary, Advangen, which include patent protection and extensive know-how around its FGF5 inhibiting technologies, cell based assays, formulations and brands.

Other patents are filed or are under examination in the U.S., Europe, China, Hong Kong, Japan and Korea.


Advangen

Advangen’s products are on sale in Australia, Japan and China; in the future the company aims to bolster its distribution in these countries and expand to the rest of Asia, U.S., Europe and South America. 

Its business is underpinned by an innovative and scientifically validated product pipeline including novel FGF5 inhibitors as well as midkine-based products.

In July, a peer-reviewed scientific paper directly linked the FGF5 protein as a cornerstone regulator of human hair and eyelash growth.

This confirmed that blocking FGF5 is an attractive therapeutic approach to increase hair growth.

The anti-aging hair care area is one of the fastest growing segments of the $90 billion annual hair care market. 

Cellmid is well positioned to take a leading role in this area with its range of biologically active high tech products and technologies.

In Australia, its salon sales strategy, which started in March 2014, is continuing to show solid results.

The company is looking to expand sales to other states beyond New South Wales and Queensland as well as pursuing distribution arrangements in other countries.


FGF5 study

The peer-reviewed scientific paper, entitled FGF5 is a crucial regulator of hair length in humans, was released online by the journal Proceedings of the National Academy of Sciences.

It was conducted by scientists from the Departments of Dermatology, Biochemistry, Genetics and Epidemiology at the Columbia University Medical Centre, New York, to determine the cause of trichomegaly, or extreme eyelash growth, presenting in two families.

Subjects with trichomegaly are otherwise healthy but present with extremely long eyelashes, which are a modified form of hair and are subject to the same growth cycle as scalp and other terminal hair follicles.

Using whole-exome sequencing, the study authors sequenced the DNA from every gene in five trichomegaly-affected subjects.

From nearly 43,000 variants identified across the full genome analysed, only mutations arising in a single gene, FGF5, caused trichomegaly.

Genetic studies in animals with abnormally long coats have previously identified deletion or mutation to fgf5 as the culprit.

However, prior to this study, FGF5 had never been directly proven to be critical to limiting human hair growth.


Analysis

The Australian patent provides further protection for Cellmid’s midkine hair technology which boosts the value of its wholly owned anti-aging hair growth subsidiary, Advangen and its intellectual property portfolio.

The anti-aging hair care area is one of the fastest growing segments of the $90 billion annual hair care market providing the company with a growth driver as Advangen’s products are on sale in Australia, Japan and China.

Cellmid will aim to bolster its distribution in these countries and expand to the rest of Asia, USA, Europe and South America.

In mid-December, Cellmid raised $1.3 million through a share placement to progress its lead humanised oncology anti-midkine antibody (CAB102) for use in solid tumours towards the planned Phase I human clinical trials.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 12 Jan 2015 11:09:00 -0500 https://www.proactiveinvestors.com/companies/news/65278/cellmid-granted-australian-patent-for-midkine-hair-growth--76226.html
<![CDATA[News - Cellmid granted key Japanese patent for anti-midkine antibodies ]]> https://www.proactiveinvestors.com/companies/news/64578/cellmid-granted-key-japanese-patent-for-anti-midkine-antibodies-75428.html Cellmid (ASX:CDY) has extended global protection for its lead anti-midkine antibody clinical candidate CAB102 and similar antibodies with the award of a Japanese patent.

The grant of patent application 2008-544071 covers the use of anti-midkine antibodies to prevent and treat cancer, inflammatory and autoimmune diseases.

It also covers antibodies to the C-domain of midkine (MK), which has repeatedly been shown to convey most of the disease promoting activities attributed to MK.

Equivalent patents have already been granted in Europe and Australia.    

“This granted patent is yet another important piece of Cellmid’s comprehensive IP protection for our MK antibodies, including CAB102,” managing director Maria Halasz said.

“Cellmid’s patent coverage for CAB102 and other therapeutic antibodies now extends across cancer, inflammatory and autoimmune diseases, multiple sclerosis and surgical adhesion.”    

Cellmid holds the most significant intellectual property assets related to MK worldwide. 

Its patent portfolio currently includes 87 patents in 20 patent families, which cover use of MK and anti-MK agents for therapeutic purposes in a number of diseases, as well as the use of MK as a diagnostic marker in cancer and other disorders.   

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 15 Dec 2014 15:00:00 -0500 https://www.proactiveinvestors.com/companies/news/64578/cellmid-granted-key-japanese-patent-for-anti-midkine-antibodies-75428.html
<![CDATA[News - Cellmid raising $1.3M to progress oncology antibody clinical trials ]]> https://www.proactiveinvestors.com/companies/news/64582/cellmid-raising-13m-to-progress-oncology-antibody-clinical-trials-75432.html Cellmid (ASX:CDY) is raising $1.3 million through a share placement to progress its lead humanised oncology anti-midkine antibody (CAB102) for use in solid tumours towards the planned Phase I human clinical trials.

Binding commitments have been received from new institutional and sophisticated investors as well as existing shareholders for about 55 million shares priced at $0.023 each.

This represents a 17.9% discount to the last closing price of the company’s shares on 10 December 2014 as well as the five day volume weighted average price.

Proceeds from the capital raising will also allow the company to invest into commercial activities associated with its consumer health business.    

Cellmid plans to start the CAB102 open label study in multiple solid tumours in the second quarter of 2015.


CAB102

In May, the company selected CAB102, which had been shown to significantly reduce chemotherapy resistance in a preclinical model of lung cancer in combination with carboplatin, as its lead humanised anti-midkine antibody.

It also selected Biotecnol SA subsidiary Rodon Biologics as the manufacturing partner. Rodon has already produced the humanised candidates for initial screening and tested CAB102’s manufacturability and stability in small-scale production runs.

CAB102 demonstrated the greatest efficacy in reducing mean tumour volumes at 21 days post treatment by 50% when combined with carboplatin, the standard therapy in lung cancer.

Initial cell expressions and stability data have also confirmed that CAB102 is manufacturable and stable, making it a feasible commercial drug product.

The clinical trial will also mark the first time midkine has ever been targeted by any drug.

A safe outcome in this study would not only add significant value to CAB102, it will also benefit Cellmid’s other therapeutic programs.


Planned phase 1/2a clinical study

- 1Q2015: Complete single dose toxicity studies;
- 2Q2015: Complete dose escalation studies
- 2Q2015: pre-IND meeting
- 2Q2015: Commence open label study in multiple solid tumours
- 4Q2015: Expected completion of phase 1/2a

The planned study will be carried out on late or end stage patients with prior chemotherapy.

It will involve 12 patients in four groups of three each. These will log 3 dose escalating (4 doses, 1 per week).


Analysis

The commitments to subscribe for $1.3 million worth of new shares demonstrates the confidence new investors and existing shareholders have in the potential of Cellmid’s lead anti-midkine antibody for use in solid tumours.

A successful trial will not only benefit CAB102, it will also benefit the company’s other therapeutic programs.

This high value oncology platform is underpinned by revenue producing assets.

Share price kickers ahead include results from IND-enabling studies and the start of the clinical program in early 2015.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 15 Dec 2014 09:29:00 -0500 https://www.proactiveinvestors.com/companies/news/64582/cellmid-raising-13m-to-progress-oncology-antibody-clinical-trials-75432.html
<![CDATA[News - Cellmid Limited to reveal capital raising details ]]> https://www.proactiveinvestors.com/companies/news/64490/cellmid-limited-to-reveal-capital-raising-details-75334.html Australian biotechnology company Cellmid Limited (ASX:CDY) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Cellmid requested the halt pending a proposed capital raising that is material to the company’s business.

The company has lead drug candidates in oncology and a product pipeline in inflammatory diseases in humans.

Cellmid is also developing innovative novel therapies and diagnostic tests for a number of cancer indications, in particular solid tumours.

Adding further to its interests, last month Cellmid signed an agreement with the world's biggest animal health company Zoetis (NYSE:ZTS), which has a market cap. of US$21.6 billion.

The agreement with Zoetis is for the evaluation and option to license one of Cellmid’s anti-midkine antibodies (MK antibody) for therapeutic use in companion animals.

The halt will last until the opening of trade on Monday 15th December 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 11 Dec 2014 12:30:00 -0500 https://www.proactiveinvestors.com/companies/news/64490/cellmid-limited-to-reveal-capital-raising-details-75334.html
<![CDATA[News - Cellmid signs agreement with Zoetis, world's largest animal health company ]]> https://www.proactiveinvestors.com/companies/news/63700/cellmid-signs-agreement-with-zoetis-worlds-largest-animal-health-company-74442.html Cellmid Limited's (ASX:CDY) shares are expected to rise after it signed an agreement with the world's biggest animal health company Zoetis (NYSE:ZTS), which has a market cap. of US$21.6 billion.

The agreement will provide for upfront and exclusivity payments for Cellmid.  These will continue until such time as the option to license is exercised by Cellmid’s partner.

The agreement with Zoetis is for the evaluation and option to license one of Cellmid’s anti-midkine antibodies (MK antibody) for therapeutic use in companion animals.

The agreement is a validation of Cellmid’s proprietary MK antibodies, which have previously been shown to be effective in animal models of a number of diseases.

Zoetis has extensive experience in the development and commercialisation of animal health products and will evaluate the performance of Cellmid’s MK antibody in their proprietary models with the view to license.

Zoetis is based in Florham Park, NJ., and is the world's biggest maker of medicines for pets and farm animals.

It has annual sales of about $4.6 billion, from products including LymeVax, the first Lyme disease vaccine for dogs in the U.S.; Revolution, for protecting dogs and cats from fleas, heartworms and other parasites and Convenia, a one-shot treatment for dogs with common bacterial skin infections.


Midkine (MK)

Midkine is a growth factor that is highly expressed during embryonic development. Midkine modulates many important biological interactions such as cell growth, cell migration and cellular adherence.

These functions are relevant to cancer, inflammation, autoimmunity, ischemia, nerve growth/repair and wound healing.


Zoetis

Zoetis was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its interest in the firm it is now a completely independent company.

The company operates in over 120 countries worldwide with recent expansions into Southeast Asia and China.


Analysis

The agreement with the world's biggest animal health company Zoetis to license one of Cellmid’s anti-midkine antibodies (MK antibody) for therapeutic use in companion animals is a major coup.

Significantly, the deal provides for upfront and exclusivity payments for Cellmid.  This will be until the option to license is exercised by Cellmid’s partner. 

As such, this is a major leap forward for Cellmid and is value accretive for its share price.

Zoetis was spun out of Pfizer and given its market cap of US$21.6 billion is a coup for Cellmid.

Zoetis could potentially increase its exposure to the companion sector, which currently accounts for around 36% of revenue compared to 64% from animal farm products.

Cellmid is therefore positioned to benefit both financially in the short to medium term from the license agreement as well as longer term if the option is exercised by Zoetis.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 17 Nov 2014 09:49:00 -0500 https://www.proactiveinvestors.com/companies/news/63700/cellmid-signs-agreement-with-zoetis-worlds-largest-animal-health-company-74442.html
<![CDATA[News - Cellmid's CEO Maria Halasz leads way with on-market purchase ]]> https://www.proactiveinvestors.com/companies/news/61943/cellmids-ceo-maria-halasz-leads-way-with-on-market-purchase-72450.html Cellmid's (ASX:CDY) chief executive officer Maria Halasz has increased her stake in the company through an on-market purchase of shares.

Halasz purchased 370,000 for a consideration of $9,990, or around $0.027 a share. The stock closed at $0.028 on Friday.

Halasz now holds a direct stake of over 1.55 million shares and 12 million (loan) shares, and an indirect stake of:

- (Direct Capital Pty Ltd) of 5.8 million shares and 7 million unlisted options (20 Nov 2014 $0.056), 1.5 million listed options (23 Oct 2016 $0.034); and

- (Direct Capital Group Pty Ltd) 3,515,625 shares and 5 million unlisted options (15 June 2017 $0.032).

Earlier in the month Cellmid reported a 267% increase in total revenue to $2.8 million for the financial year ended 30 June 2014 with revenue from product sales rising more than 112% to $1.15 million.

This follows the first full year of operations for its Consumer Health Business following the acquisition of Advangen Inc and subsequent growth in distribution of its FGF5 inhibitor hair growth products.

The company’s Midkine Business has achieved development milestones with the completion of humanisation and lead antibody (CAB102) selection and the commencement manufacturing for clinical trials. 

It has commenced preparations for its ‘first in men’ clinical studies with reviewing clinical sites and negotiating with principal investigators.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 22 Sep 2014 10:30:00 -0400 https://www.proactiveinvestors.com/companies/news/61943/cellmids-ceo-maria-halasz-leads-way-with-on-market-purchase-72450.html
<![CDATA[News - Cellmid revenues rise 267% ]]> https://www.proactiveinvestors.com/companies/news/61323/cellmid-revenues-rise-267-71785.html Cellmid (ASX:CDY) has reported a 267% increase in total revenue to $2.8 million for the financial year ended 30 June 2014 with revenue from product sales rising more than 112% to $1.15 million.

This follows the first full year of operations for its Consumer Health Business following the acquisition of Advangen Inc and subsequent growth in distribution of its FGF5 inhibitor hair growth products.

The company’s Midkine Business has achieved development milestones with the completion of humanisation and lead antibody (CAB102) selection and the commencement manufacturing for clinical trials. 

It has commenced preparations for its ‘first in men’ clinical studies with reviewing clinical sites and negotiating with principal investigators.

Consumer Health Business

With the acquisition of Advangen in May 2013, Cellmid has taken control of global rights for the technology and closed the first full year of operations for the joint business.

In Japan, it signed a major distribution agreement with Natural Garden, a direct marketing company, for the supply of existing brands and newly developed products. 

The salon distribution has also been expanded for the male lotion and shampoo brands (Lexilis Black®). 

Test marketing of the Groups’ new female brand of lotions and shampoos, Jo-Ju RED® commenced in Japan.

In Australia the roll-out of the products in hair salons commenced in New South Wales in March 2014 with strong results. 

Recruitment of sales people will continue in other states over the coming months. 

The Advangen acquisition also delivered Chinese import permits for the Lexilis® and JoJu®brands, with the potential to accelerate geographical expansion of the distribution.

Cellmid has signed a distribution agreement with Beijing Huana Likang, a marketing company with primary channels in television shopping networks and online sales.

The company has been successful in the fractionation and synthesis of novel FGF5 inhibitors and filed new composition of matter patent applications during the period. 

New formulations have been prepared using these discoveries and a safety study has been initiated in humans. This has led to the start of a product strategy and technology review in June 2014.

Midkine Business

During the 2014 financial year, Cellmid has completed proof of concept studies that show that its midkine antibody drug is effective in cancer when assessed in a pre-clinical model of non-small cell lung carcinoma (NSCLC).

It has successfully humanised its antibodies and selected a lead drug candidate (CAB102) to progress to clinical studies. 

Importantly, manufacturability of CAB102 has been confirmed and a manufacturing partner has been appointed.

This program also received a boost with the European Patent Office granting one of the Group’s most important midkine antibody patent applications, “Antibody Recognising C-domain of midkine”, which has oncology claims. 

Another antibody patent entitled “Method for the treatment or prevention of diseases associated with a functional disorder of T Cells” was granted by the Japanese Patent Office in October 2013.    
Its licensees Pacific Edge Limited and Celera Quest also continue to make significant progress towards commercialisation of their respective CxBladder® bladder cancer diagnostic test and lung cancer diagnostic test.

Pacific Edge launched CxBladder® in the U.S. in March 2013 and signed up a number of US health care providers, making their first commercial sale in July 2013. 

This event triggered the last milestone payment to the Group which was received on 1 August 2014.

Celera Quest continued to work towards the launch of a lung cancer diagnostic test which includes MK and reported the achievement of major milestones.

It has also completed four other clinical studies conducted as part of their clinical validation program for the lung cancer test.

Fujikura Kasei has exercised its option to license its antibodies for diagnostic purposes in Japan.

A new diagnostic collaboration was signed with Abcodia Limited during the reporting period for the assessment of midkine in the diagnosis of colorectal cancer, and internal diagnostic programs have continued.

Patent Portfolio

Cellmid has a large and valuable patent portfolio which consists of 87 patents across 21 patent families. 

Of these 62 patents have been granted, 24 filed or under examination and one in PCT (Patent Cooperation Treaty) filing stage.

Analysis

Cellmid revenues have increased due in part to the first full year of operations for its Consumer Health Business following the acquisition of Advangen Inc and its subsequent growth in distribution of its FGF5 inhibitor hair growth products.

This increased revenue from product sales by more than 112% to $1.15 million and total revenue by 267% to $2.8 million.

Significantly, Cellmid’s net assets have increased by 7% to $5.66 million while current assets rose 19% to $4.5 million. This should enable Cellmid to execute on its business plan.

The company had $2.5 million in cash as of 30 June 2014.

Sales could increase further with the recruitment of sales people in Australia and distribution in China.

There are new products on the horizon following the preparation of new formulations based on the fractionation and synthesis of novel FGF5 inhibitors.

Catalysts ahead include:

-    Further expansion of sales strategy in Australia;
-    New FGF5 products;
-    Start of the clinical program for midkine antibodies in early 2015; and 
-    Ongoing progress on the development of the novel MK Tribodies with Biotecnol.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 01 Sep 2014 11:44:00 -0400 https://www.proactiveinvestors.com/companies/news/61323/cellmid-revenues-rise-267-71785.html
<![CDATA[News - Cellmid's consumer health division poised for expansion ]]> https://www.proactiveinvestors.com/companies/news/60403/cellmids-consumer-health-division-poised-for-expansion-70807.html Cellmid (ASX:CDY) expects that its consumer health division will see the results of its rebranding and distribution expansion during the first half of the 2015 financial year.

The business performed to expectations during the June 2014 quarter despite the implementation of a number of initiatives including a price reduction in Australia and Japan, which have affected sales.

While sales values were lower at $296,380, compared to $390,936 in the third quarter, on a “per unit” bases sales have been steady or improved in most distribution channels.

It recorded sales of $1.1 million in 2014 - the first full year of operation for the combined entity following the acquisition and restructure of the Japanese business - in line with expectations

In Australia, the company’s salon sales strategy, which started in March 2014, is beginning to show solid results. 

This is expected to continue with a national roll-out finishing by the end of calendar 2014.

Cellmid also marked an increase in research and development cash outflows to $506,000 in the fourth quarter from $323,000 in the third quarter.

This underlies the solid progress in the anti-midkine antibody program.

It added this business would continue to account for the majority of the spending as the program is getting closer to clinical studies.

Recent Patent Grant

The company had earlier this month received official Notification of Grant from the United Kingdom Intellectual Property Office for its patent application for use of midkine to prevent and treat hair loss and to promote and enhance hair growth.

It also received direct confirmation from a peer-reviewed scientific paper that linked the FGF5 protein as a cornerstone regulator of human hair and eyelash growth.

In addition, it had last month selected Biotecnol SA subsidiary Rodon Biologics as the manufacturing partner for its humanised anti-midkine (MK) antibody CAB102 for clinical trials in multiple oncology indications.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 29 Jul 2014 17:00:00 -0400 https://www.proactiveinvestors.com/companies/news/60403/cellmids-consumer-health-division-poised-for-expansion-70807.html
<![CDATA[News - Cellmid granted UK patent for midkine hair growth technology ]]> https://www.proactiveinvestors.com/companies/news/60058/cellmid-granted-uk-patent-for-midkine-hair-growth-technology-70448.html Cellmid Limited (ASX: CDY) should trade firmer again today after receiving official Notification of Grant from the United Kingdom Intellectual Property Office for its patent application for use of midkine to prevent and treat hair loss and to promote and enhance hair growth.

This patent is the first granted member of the extensive midkine patent family for hair growth. Other patents are filed or are under examination in the U.S., Europe, China, Hong Kong, Japan, Korea and Australia.

This protects the use of midkine and the closely related protein pleiotrophin for use as hair loss and/or hair growth treatments. 

The patent entitled "Method of treatment or prevention of hair loss or for the enhancement of hair growth” covers topical formulations of all kinds, including shampoos, conditioners, creams and lotions with protection until 2031.

And it adds to the value of Cellmid's considerable intellectual property assets of its wholly owned anti-aging hair growth subsidiary, Advangen, which include patent protection around its FGF5 inhibiting technologies, cell based assays, formulations and brands.

Advangen

Advangen’s products are on sale in Australia, China and Japan; in the future the company aims to bolster its distribution in these countries and expand to the USA, Europe and South America. 

Advangen’s business is underpinned by an innovative and scientifically validated product pipeline including novel FGF5 inhibitors as well as midkine-based products.

Just yesterday, Cellmid reported publication of a peer-reviewed scientific paper that, for the first time, directly links the FGF5 protein as a cornerstone regulator of human hair and eyelash growth.

This confirmed that blocking FGF5 is an attractive therapeutic approach to increase hair growth.

The anti-aging hair care area is one of the fastest growing segments of the estimated $90 billion annual hair care market. 

Cellmid, through its wholly owned subsidiary Advangen, is well positioned to take a leading role in this market with its range of biologically active high tech products and technologies.

Analysis

This patent is yet another building block in Cellmid's growing portfolio of preventing and treating hair loss and promoting growth applications.

In addition, Cellmid has recently appointed biologics manufacturer Rodon/Biotecnol as it progresses towards a clinical trial for its humanised anti-midkine antibody CAB102.

Share price catalysts ahead include the start of the clinical program in early 2015 and ongoing progress on the development of the novel MK Tribodies with Biotecnol.

Taken together, these offer Cellmid several opportunities for commercialisation and growth.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 16 Jul 2014 11:50:00 -0400 https://www.proactiveinvestors.com/companies/news/60058/cellmid-granted-uk-patent-for-midkine-hair-growth-technology-70448.html
<![CDATA[News - Cellmid Limited: study reports hair growth breakthrough ]]> https://www.proactiveinvestors.com/companies/news/60023/cellmid-limited-study-reports-hair-growth-breakthrough-70411.html Cellmid Limited (ASX: CDY) should trade higher today after it reported publication of a peer-reviewed scientific paper that, for the first time, directly links the FGF5 protein as a cornerstone regulator of human hair and eyelash growth.

This confirmed that blocking FGF5 is an attractive therapeutic approach to increase hair growth.

The finding is a validation of Cellmid’s hair growth products, which contain FGF5-inhibiting botanical extracts.
    
These were developed using mechanism of action evidence obtained from other mammals. 

Whilst clinical trials confirmed that the company’s products reduce hair loss and increase hair growth in humans, this is the first time an independent study shows direct mechanism of action between excessive hair growth and defective FGF5 gene in humans.


Landmark Study

The study, entitled FGF5 is a crucial regulator of hair length in humans, was released online by the journal Proceedings of the National Academy of Sciences.

It was conducted by scientists from the Departments of Dermatology, Biochemistry, Genetics and Epidemiology at the Columbia University Medical Centre, New York, USA.

It aimed to determine the cause of trichomegaly, or extreme eyelash growth, presenting in two families. 

Inherited trichomegaly is an extremely rare condition, with only two cases reported in the scientific literature prior to this study. 

Subjects with trichomegaly are otherwise healthy but present with extremely long eyelashes, which are a modified form of hair and are subject to the same growth cycle as scalp and other terminal hair follicles. 

As such, eyelashes are susceptible to the same molecular signals that affect hair on the head.

Using whole-exome sequencing, the study authors sequenced the DNA from every gene in five trichomegaly-affected subjects. 

From nearly 43,000 variants identified across the full genome analysed, only mutations arising in a single gene, FGF5, caused trichomegaly.

Genetic studies in animals with abnormally long coats have previously identified deletion or mutation to fgf5 as the culprit.

However, prior to this study, FGF5 had never been directly proven to be critical to limiting human hair growth.

Darren Jones, Head of Product Development at Cellmid, added:

“This elegant and well-conducted study comprehensively demonstrates the critical role FGF5 plays in human hair loss, and this study validates the approach of our scientists in seeking to block FGF5 to restore hair growth.

It also re-affirms FGF5 inhibition to be a safe and specific mechanism by which to promote hair growth.”

Maria Halasz, Cellmid’s CEO, commented:

“Advangen’s scientists were far ahead of the curve in targeting FGF5. From the first scientific reports of FGF5’s significance in animals, the team recognised the potential to safely and effectively treat hair loss and restore hair growth by blocking FGF5”.


Multiple Patents

Cellmid, through its wholly owned subsidiary Advangen, is the leader in developing clinically validated products for boosting healthy hair growth via FGF5 inhibition. 

The company controls multiple intellectual property assets pertaining to FGF5 inhibition, including patents for compounds, compositions and formulations, as well as vast proprietary knowledge including definitive functional assays for identifying FGF5 inhibitors.


Analysis

The publication validating FGF5 blocking as a mechanism by which to promote eyelash growth demonstrates that scientists from Cellmid’s Advangen subsidiary were far ahead of the curve in blocking FGF5 to restore hair growth.

It also re-affirms FGF5 inhibition as a safe and specific mechanism to promote hair growth.

The current market leader in drug treatments for eye lash growth, Latisse (Allergan), sells over $150 million annually in the USA alone.

Thus the market is niche but significant, and could be very lucrative for a small cap. company such as Cellmid, capitalised at just $20 million.

In addition, Cellmid has recently appointed biologics manufacturer Rodon/Biotecnol as it progresses towards a clinical trial for its humanised anti-midkine antibody CAB102.

That Rodon’s ongoing collaboration with Cellmid will save up to six months in the product development program adds to the value of the agreement.

Share price catalysts ahead include the start of the clinical program in early 2015 and ongoing progress on the development of the novel MK Tribodies with Biotecnol.

Taken together, these offer Cellmid several opportunities for commercialisation and growth.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 15 Jul 2014 12:32:00 -0400 https://www.proactiveinvestors.com/companies/news/60023/cellmid-limited-study-reports-hair-growth-breakthrough-70411.html
<![CDATA[News - Cellmid partner Quest progresses midkine lung cancer diagnostic test ]]> https://www.proactiveinvestors.com/companies/news/59285/cellmid-partner-quest-progresses-midkine-lung-cancer-diagnostic-test-69638.html Cellmid (ASX:CDY) partner Quest (Celera) has made major advances towards the launch of a lung cancer diagnostic test and expects to submit data from a key trial to the U.S. National Cancer Institute. 
    
Samples from the PLCO trial are currently being tested on the Luminex platform with the data to be submitted to the NCI’s data review committee later this year.

Quest has also reported on four other clinical studies conducted as part of its clinical validation program for the lung cancer test.

Lung Cancer Diagnostic Test

Quest has been developing since 2009 a blood test to replace biopsy for determining whether pulmonary nodules identified in the lungs through computer tomography or chest X-rays are cancerous.

It had in October 2009 signed a licence agreement with Cellmid to include midkine as one of the biomarkers in the test.

This is expected to provide more accurate results at lower cost and would result in Quest paying Cellmid royalties along with a milestone payment.

In 2013, Quest reported it had signed an agreement with the NCI to participate in the chest X-Ray screening Prostate, Lung, Colorectal and Ovarian Trial (PLCO) as part of their clinical validation program.

It also noted growing support for a lung cancer screening program in the U.S.

The target market for the test is estimated at 7 million people annually.

Quest has until 31 October 2014 to commercialise their lung cancer blood test with MK included, after which they maintain their ability to use MK, but will lose exclusivity under the terms of the license agreement.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 20 Jun 2014 07:08:00 -0400 https://www.proactiveinvestors.com/companies/news/59285/cellmid-partner-quest-progresses-midkine-lung-cancer-diagnostic-test-69638.html