KiOmed Pharma and Sinclair Pharma sign an exclusive partnership based on “KiOmedine®” technology
Liège-Herstal, Belgium, October 7th 2021
Belgian biotech company KiOmed Pharma has announced that it has entered into a worldwide (excluding USA) License and Supply Agreement with Sinclair Pharma, a global aesthetics company wholly owned by Huadong Medicine Company (HMC) Limited. Under the terms of the agreement, KiOmed will develop and supply Sinclair with a brand of innovative KiOmedine®-based products for the fast-growing multibillion-dollar aesthetics markets.
As part of the agreement, KiOmed will receive upfront technology access and milestone payments, in addition to product supply and sales royalties, representing in excess of USD 150 million in aggregate over the first 10-year period of the agreement.
“We are absolutely thrilled to enter into this strategic partnership with Sinclair Pharma as it allows our technology platform to get access to the booming aesthetics markets,” stated KiOmed Pharma Executive Chairman Mr. François Blondel. “This partnership in the aesthetics industry is making the vision we had in 2014 a reality, at the time of the spinout of KiOmed from KitoZyme, i.e. creating a platform that would offer an attractive alternative to the usage of hyaluronic acid in three main markets: rheumatology, ophthalmology and aesthetics,” added Mr. Blondel.
The dermal fillers market represents a significant share of the out-of-pocket aesthetics market and is projected to reach more than USD 7 billion in the next five years. The market is dominated by the increasingly generic Hyaluronic Acid (HA) dermal fillers. While lacking disruptive innovation, the market is still continuously growing, fueled by a rising aging population and individual expenses on aesthetic procedures.
“We are delighted with this strategic partnership with Sinclair Pharma, as it provides a global roadmap for the development and commercialization of KiOmedine®, our unique vegetal chitosan-based technology. We believe it has the potential to become a game changer in the HA-dermal fillers markets,” stated KiOmed Pharma CEO Dr. Houtaï Choumane. “Partnering with a European company, such as Sinclair Pharma, backed by HMC, a leading aesthetics group in China, is a strategic move for us as it paves the way for great commercial opportunities not only in Europe but also in the growing Chinese market,” concluded Dr. Choumane.
About KiOmed Pharma
KiOmed Pharma is a Belgium-based biotech spin-off of world-leading bio-chemical company Kitozyme. KiOmed Pharma focuses on the development, manufacturing and marketing of safe and effective medical devices and therapeutic solutions based on KiOmedine®, an innovative and exclusive animal-free chitosan biodegradable biopolymer. KiOmed Pharma offers a unique pipeline of products for tackling invalidating osteoarthritis, skin aging and dry eye syndrome.
Houtaï Choumane, Managing Director & CEO
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