SC Engineering "Cellontec Signs Collagen Filler Supply Contract with Chinese Sahwan Pharmaceutical Subsidiary"

SCN Engineering subsidiary Cellontec targets the vast Chinese medical beauty market.

Regenerative medicine specialized bio company Cellontec announced on the 4th that it has signed an exclusive sales supply contract in China for the collagen filler ‘TheraFill’ (a tissue repair biomaterial) with Beijing Meiyan Space Technology (hereinafter Meiyan), a subsidiary of Chinese Sihuan Pharmaceutical.

Under this contract, Sihuan Pharmaceutical and Meiyan will promote local clinical trials to obtain product approval from the China National Medical Products Administration (NMPA) for the sale of TheraFill in China, while Cellontec will provide technical support. Meiyan will bear all clinical trial costs. Sihuan Pharmaceutical and Meiyan will also be responsible for all activities and costs related to the approval process by Chinese health authorities and local marketing.

After the official launch of TheraFill in China, Meiyan will have exclusive supply rights for TheraFill in China for 10 years. Additionally, Cellontec will be guaranteed a minimum order quantity (MOQ) worth $11.4 million (approximately 15 billion KRW) from Meiyan over six years. If demand increases, the minimum guaranteed contract amount may be further increased through negotiation.

A Cellontec official said, “Once TheraFill receives NMPA approval, it will become the first domestically produced collagen filler product to enter the Chinese market,” adding, “There are only four collagen filler companies that have entered China worldwide, so the growth potential is high.”

TheraFill is a cosmetic filler product developed using Cellontec’s proprietary bio-collagen technology, used to temporarily improve facial wrinkles. In 2010, Cellontec obtained product approval from the Ministry of Food and Drug Safety for TheraFill, successfully achieving the first domestic commercialization and localization of collagen fillers in Korea.

Sihuan Pharmaceutical is a large pharmaceutical company with an extensive distribution network covering over 10,000 hospitals and medical institutions in the Chinese hospital pharmaceutical distribution market. Sihuan Pharmaceutical is known as the Chinese distribution partner of Hugel. Meiyan, a 100% subsidiary of Sihuan Pharmaceutical, is responsible for distributing medical products in the aesthetic plastic surgery field.

Hyung Jin-woo, CEO of Cellontec, emphasized, “Based on the partnership with Meiyan, we will utilize optimized local networks and distribution strategies to achieve efficient and effective market settlement and market share expansion of TheraFill,” adding, “In the rapidly growing Chinese medical beauty market, especially in non-surgical fields such as fillers, TheraFill’s excellent product quality, collagen raw materials, and the high preference for Korean products will act as opportunity factors.”

Meanwhile, according to KOTRA, the Chinese medical beauty injection market size is estimated at 55.5 billion yuan (approximately 10 trillion KRW) in 2022.

This content was produced with the assistance of AI translation services.