SCM Life Science, equity investment in U.S. bio-venture Vita Theraputics... "Focus" on strengthening the capabilities of Cell Therapy Products.
SCM Life Science, a company specializing in cell therapy (Scm Life Science, CEO Lee Byung-gun. KOSDAQ 298060) announced on the 22nd that it has signed a business partnership contract with Japanese home shopping vendor Bonotox Japan to enter the global Cosmetic market with its operator Opera Zone. Based on this agreement, they plans to push ahead with its business to enter the Japanese home shopping market and expand global distribution channels beyond it.
This is the first case of entering overseas markets based on the Cosmetic know-how accumulated by SCM Life Science, so attention is being paid to the future.
SCM Life Science plans to develop basic cosmetics products containing stem cell culture solutions incorporating its technology and enter the Japanese market through Bonotox Japan. The launch of the new product is aimed at around February next year. An official from SCM Life Science said, "We plan to plan and expand additional products that can help calm atopic symptoms based on Scm Life Science' technology in the atopic field.". Scm Life Science' atopic treatment "SCM-AGH" is currently undergoing phase 2 clinical trials based on the successful phase 1 clinical results announced in December last year.
Bonotox Japan is a cosmetics company that has created a success story in the Japanese distribution market by qualifying as a vendor for QVC, Japan's largest home shopping channel. QVC Home Shopping is famous for qualifying only companies that have traded for more than three years as main vendors. Bonotox Japan is considered an unusual achievement of obtaining vendor qualifications within 11 months of transaction. Opera Zone is the operator of Bonotox Japan located in Korea.
SCM Life Science is developing various cell treatments based on stem cell technology, while operating a cosmetic brand called "Iroro" that combines stem cell technology. Representative products include shampoo to prevent hair loss, which contains CXCL1, a patent substance for promoting hair growth, as an active ingredient. SCM Life Science is planning to expand its base for overseas expansion in earnest by acquiring Chinese patents for CXCL1. Besides China, CXCL1 has already registered patents in Japan, Russia, the United States, and Europe.
Cosmeceutical is a combination of cosmetics and pharmaceuticals, and refers to cosmetics containing functional ingredients that have been medically verified. Cosmeceutical is considered one of the fastest-growing markets in the cosmetics sector due to the global trend of aging and increased demand for anti-aging products and increased per capita spending in developing countries. According to a report on the Cosmetic Market by the R&D Special Zone Promotion Foundation published in December 2019, the size of the Cosmetic market is expected to grow from $41.82 billion (about 47.44 trillion won) in 2016 to $55.83 billion (about 63.33 trillion won) in 2021.