Cellmid receives Chinese import permits for its Jo-Ju® and Lexilis® branded shampoos
The health and beauty-tech business is focused on global distribution and sales of its scientifically validated innovative consumer products. The import permits allow the sale of the shampoo products in any channel in mainland China.
Cellmid Ltd (ASX:CDY) has received Chinese import permits for its Jo-Ju® and Lexilis® branded shampoos from the National Medical Products Administration (NMPA).
This marks an important milestone in the implementation of the distribution agreement signed in December 2020 with Ourui Health Management (OHM).
The company s shares have been almost 6% higher intra-day to 7.2 cents.
Cellmid signs agreement for sale of biotech subsidiary Lyramid Limited
The company will retain the benefit of future upside with a 4% royalty on product sales by Lyramid (8% on sub-licence income). Cellmid has received a A$500,000 upfront payment.
Cellmid Limited (ASK:CDY) has signed a binding agreement with Provelmare Holding SA, a Panama-based company, for the sale of Lyramid Limited, Cellmid s wholly-owned research and development subsidiary focused on commercialising its midkine intellectual property portfolio.
Midkine, an important novel therapeutic target, is a growth factor abundant during embryonic development but is almost undetectable in healthy adults and it reappears in certain pathologies, including inflammatory diseases and cancer, becoming readily detectible in blood and other tissues.