CNBG, AAT Join Hands in Biopharmaceutical Development

China National Biotec Group (CNBG), a subsidiary of China National Pharmaceutical Group Corporation (SINOPHARM), and Advanced Aesthetic Technologies, Inc. (AAT), a leader in aesthetic gel implant technology, signed a strategic cooperation agreements on Sept 17. 

The relationship is based on CNBG's recognition of AAT products and AAT's recognition of CNBG's leading position in the biopharmaceutical field, and the agreement establishes a partnership of in-depth cooperation on equity and products.

According to the agreement, CNBG will take a major but non-controlling equity position in AAT in exchange for an investment in AAT, and Lanzhou Biotechnique Development Co., LTD., a subsidiary of CNBG (Lanzhou Company) will be responsible for the approval and distribution of AAT products under the Algeness® name in Chinese mainland.

AAT and CNBG sign a strategic cooperation agreements on Sept 17. [Photo/China National Biotec Group]

CNBG is the largest Chinese biopharmaceutical company and the Lanzhou Company is the sole producer of botulinum toxin in China. Hengli® (LANTOX) is the market leading botulinum toxin in the Chinese market; its products are distributed to over 6500 medical aesthetics institutions in China and have over 75 percent of the Chinese BTXA market.

AAT's Algeness® is a patented family of fully resorbable injectable gel implant dermal fillers that are 100 percent natural. They provide distinct advantages in terms of safety, skin rejuvenation, and natural looking results both when the skin is at rest and during facial movement. Clinical advantages include minimal swelling upon injection as Algeness does not scavenge water from the surrounding tissues. Unlike hyaluronic acid based dermal fillers, the result seen at the time of injection is the final result. Algeness holds a CE Mark and is currently distributed in over 30 countries worldwide. AAT has begun efforts to obtain US FDA approval.

AAT and CNBG signs a strategic cooperation agreements  on Sept 17. [Photo/China National Biotec Group]

Doug Abel, President and CEO of AAT commented, "We are delighted to enter into an exclusive relationship in China with CNBG. Their excellence in biopharmaceutical development and the Lanzhou Company's leadership in the Chinese aesthetic market make them the ideal partners to bring Algeness through the approval process in China and ultimately to the market.  We are also pleased that CNBG recognizes the potential that Algeness has to revolutionize the dermal filler market.  In combination with our ongoing fund raising efforts, the investment by CNBG will allow us to advance Algeness to FDA registration including completion of the required clinical trials. Our entry into the China and US markets represent major value creation steps for AAT."

Attendees of the strategic agreement signing ceremony pose for a picture on Sept 17. [Photo/China National Biotec Group]

According to AAT Board Member Los Angeles plastic surgeon Brian Kinney, M.D., "Algeness represents a soft tissue filler 'implant' that fills an unmet need for practitioners and patients by delivering immediate results with minimal swelling and side effects or impact on the immune system.  In addition, it goes beyond simply providing volume to providing projection and shape. My patients request safe, natural products with natural looking and feeling results. Algeness has the potential to match these patient demands in a new and innovative way.”  

CNBG, China's largest producer and supplier of vaccines and plasma-derived products, is a wholly-owned subsidiary of Sinopharm, the largest pharmaceutical and healthcare group in China, with core businesses including distribution, retailing, research and manufacturing of healthcare related products.

Hengli, the trademark of CNBG, is recognized as one of the most influential brands in the field of medical aesthetics.