Life sciences company Cellmid (ASX: CDY) has told the market it is tentatively expecting to receive a patent from the Chinese Patent Office for its évolis brand in the very near future.
Earlier today, Cellmid said that Chinese authorities had issued a notice of intention to grant in relation to its patent titled “Method of treatment of Alopecia with Monoterpenoids” with the patent to expire in 2034, once granted.
With the patent grant almost finalised, Cellmid said the development would increase the commercial value of its évolis brand and boost sales growth in all regions where its products are currently being sold.
The method covered by the patent involves administering skin cream containing a monoterpenoid to inhibit the hair growth cycle and control the regulatory protein, fibroblast growth factor 5 (FGF5).
Scientific studies have shown that FGF5 activity in hair follicles is associated with disruption of the hair cycle, leading to a progressive reduction in hair growth and eventually succumbing to hair loss.
The patent is an important step for Cellmid because it provides competitor protection for its évolis brand catering for both men and women.
According to Cellmid, the évolis range was designed to help users “reverse hair loss and thinning, improve hair growth and prevent the signs of ageing”, with products being offered to customers at around $19-$70 in several countries and online.
The unique selling point for évolis is that the hair therapy formulation is comprised of a class of small molecules called “monoterpenoids”, originally derived from botanical extracts.
“With improved protection at formulation and brand level, the patent adds to the product security along with the YPB consumer protection technology, the licensed ‘Australian Made’ logo and the registered évolis trademarks,” the company said.
Once its patent is granted, Cellmid expects to harness its Chinese market protection to expand distribution across the country as well as establishing a cross border e-commerce partnership with Aeon international.
In October last year, Cellmid initiated its European sales push following the signing of a distribution agreement with Douglas GmbH and securing a parallel agreement in China with Aeon International for évolis.
Moreover, Cellmid is also hopeful of selling its anti-ageing product range in Chinese pharmacies and clinics courtesy of an agreement with Fukangren, who will register Cellmid’s products with the SFDA.
Cellmid developed évolis back in 2013 after acquiring life sciences company Advangen and committing to utilising FGF5 technology in its product development in order to maximise hair growth.
Several scientific studies including one done in 2014 showed that FGF5 is critical for human hair growth with Cellmid’s évolis formulations showing an 82% reduction in hair loss and a 44% increase in hair growth rate, following a US clinical study in 2016.
As part of another study conducted in Japan in 2017, rigorous testing of various monoterpenoid compounds by the Advangen Hair Gene Research Laboratory showed that several were potent inhibitors of FGF5, enabling hair follicles to maintain healthy growth rates.