Cellmid takes hair loss product to the US

Company News

by David Chau

Life sciences company, Cellmid Ltd (ASX:CDY) has entered a distribution partnership for the US launch of its ‘evolis’ branded hair loss products.

Cellmid’s partnership is with Colour Collective, a company that specialises in launching high-end hair brands in the US – for brands like Revlon, Unilever and Toni & Guy.

The company says US sales will start this year through e-commerce channels, and the goal is to exceed US$100 million worth of sales at peak level.

The company estimates the global hair loss market is worth US$7 billion per year, with America being the biggest single market at $3.5 billion (that is, half of the global market).

Cellmid reported a net loss of $1.7 million at 31 December 2015.

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