Croma Establishes New Joint Venture in China
Asia in general and China in particular represent the fastest growing aesthetic medicine markets worldwide. CNBG and Croma entered a far reaching, long-term cooperation combining each partner’s assets in a newly founded Joint Venture company to market Croma’s aesthetic products in China and Hong Kong. Financial details were not disclosed by the parties.
The cooperation between CNBG and Croma will in all probability have a major impact on the aesthetic medicine market in China, which had seen an average growth of over 20% annually within the past years. This caused an increasing demand for safe, high-quality products.
Croma will contribute its products, the currently approved Hyaluronic Acid Filler Princess® VOLUME and additional Filler products, as well as other facial aesthetic products of its range, whereas CNBG will provide its multi-channel distribution, marketing knowledge and synergistic products, in particular its botulinum toxin product Heng Li®, manufactured by the CNBG affiliate Lanzhou Biotechnique Development Co., Ltd. (“Lanzhou”).
The joint company aims to become a comprehensive supplier of minimally invasive aesthetic products in China, making effective use of the existing field force of Lanzhou. Sales of Princess® VOLUME will re-start very soon.
Xiangrong Li, Vice-president of CNBG said: “CNBG, via its affiliate Lanzhou, has been very successful for years with its botulinum toxin in China. Our search for suitable HA Filler products has finally come to an end – Croma indeed is the perfect partner and best possible fit for us. Together we are committed to shape and conquer the Chinese market with all its immense growth potential”.
Andreas Prinz, CCO and Co-Owner of Croma: "Croma incorporates more than 40 years of experience in R&D of viscoelastic products. Our fully automated production lines deliver 8 million pre-filled injectables per year. We are rightfully considered leading European experts in Hyaluronic Acid. With CNBG,we have found the perfect partner to merge our strengths and assets to successfully enter the fast-growing Chinese market. CNBG’s track-record and experience will heavily support Croma to sustainably prosper in Asia."
About Croma-Pharma GmbH - leading experts in Hyaluronic Acid
Croma-Pharma, a family owned pharmaceutical company based in Austria is globally acclaimed for its expertise in pre-filled viscoelastic injectables for opthalmology, orthopaedics and aesthetic indications. Annual output of 8 million syringes makes Croma one of the major producers of high-end injectables worldwide. The success is based on research and development at the company headquarters in Austria. The owners follow a clear vision for high-quality technologies andboldly seize opportunities for the acquisition of complementary companies or technologies. Croma currently employs around 500 people and operates 12 affiliates in Europe, North-America, Brazil and Australia. Through distribution partnerships, its products are marketed in more than 70 countries all over the world. Croma is a multi-award winning company and celebrated its 40th anniversary in 2016.
CNBG is one of the largest Chinese biopharmaceutical companies and is the largest producer and supplier of vaccines and plasma-derived products in China. CNBG’s major business segments include human vaccines, blood products, medical aesthetics, veterinary vaccines, antibodies and diagnostics. Lanzhou is the sole producer of botulinum toxin in China. Heng Li® is the market leading botulinum toxin in the China market, with a market share of 75%, ranking No. 1 in the domestic market.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
GrAI Matter Labs Raises $14M to Bring Fastest AI per Watt to Every Device on the Edge23.11.2020 20:00:00 CET | Press release
GrAI Matter Labs, a pioneer of brain inspired ultra-low latency computing, today announced its latest financing round of $14 million. The round was led by iBionext, joined by all existing investors and newly welcomed Bpifrance through the Future Investment Program and Celeste Management. The company will utilize the funds to accelerate design and market launch of its first GrAI® full-stack AI system-on-chip platform, to deliver on customer needs at the edge. GrAI Matter Labs’ programmable NeuronFlow™ technology enables industry-leading inference latency efficiently – more than an order of magnitude better than competing solutions. Its current accelerator chip GrAI One and the GrAI One HDK are available for product evaluation and application programming. The upcoming GrAI® full-stack AI system-on-chip platform will drive a significant step in visual inference capabilities in robotics, industrial automation, AR/VR and surveillance products and markets. “Securing this funding round is a t
Von Gahlen Building Major Component of SHINE’s One-of-a-Kind Isotope Plant23.11.2020 20:00:00 CET | Press release
SHINE Medical Technologies LLC and Von Gahlen International Inc. today announced that Von Gahlen will build and install the “supercell,” a bank of 10 hot cells, for SHINE’s U.S. medical isotope production facility in Janesville, Wis. The supercell will house the key processes at the end of isotope production, including the extraction, purification and packaging of the molybdenum-99, or Mo-99, produced elsewhere in the plant. The hot cells allow for remote operation of the process equipment using specialized features, designed through close collaboration between SHINE and Von Gahlen engineers. Von Gahlen has its headquarters in the Netherlands and is a state-of-the-art manufacturer of shielding solutions for nuclear medicine and radiopharmacy. Von Gahlen was awarded the contract for the supercell based on this expertise, commitment to the project, and its alignment with SHINE’s core values. Fabrication of the hot cells is underway and delivery is expected in the second half of 2021. “We
Defense Innovation Unit (DIU) Selects Immervision InnovationLab to Develop a Computer Vision Wide Angle Camera for the Blue UAS Framework Project23.11.2020 17:01:00 CET | Press release
Immervision, the Montreal-based leader in wide-angle intelligent vision, today announced it has received an award from the Defense Innovation Unit (DIU), part of the U.S. Department of Defense (DoD) for a Blue UAS Frameworkeffort. The Immervision InnovationLab team is developing a wide-angle computer vision camera for small Unmanned Aerial Systems (sUAS), enabling advanced low-light vision for Blue UAS Frameworkeffort which provides affordable, trusted, high performing, and interoperable UAS drone technologies for commercial and defense applications. “We are honored that the Defense Innovation Unit has chosen Immervision’s InnovationLab to create this innovative wide angle computer vision camera optimized for drones in low light vision and autonomous flight,” said Alessandro Gasparini, Executive Vice President, Operations and Chief Commercial Officer of Immervision. “Immervision’s technology has been widely adopted in aerospace, surveillance systems and for consumer electronics for ove
GlobalLogic Acquires ECS Group, a Leading UK-Based Digital Transformation Company23.11.2020 15:00:00 CET | Press release
GlobalLogic Inc., a leader in Digital Product Engineering, today announced that it has acquired ECS Group, a leading digital transformation and DevOps consultancy. Headquartered in London, ECS delivers digital solutions that harness the latest cloud technologies, with a focus on Digital Engineering, Data Analytics and Customer Experience. The company serves multiple industries, with particular expertise in the banking and financial services sector. With the acquisition of ECS, GlobalLogic advances its European strategy, expands its Financial Services footprint and adds a host of complementary cloud-centric offerings to its portfolio. ECS brings to GlobalLogic a highly regarded proficiency in cloud architecture and advisory services as well as expertise in leading cloud platforms. Notably, ECS possesses rich Amazon Web Services (AWS) capabilities, for which ECS is an Advanced Consulting Partner and Amazon Connect Service Delivery Partner. Additionally, ECS holds the DevOps Competency Ac
Hisense Sued for Infringement of AVC Essential Patents23.11.2020 15:00:00 CET | Press release
MPEG LA announced today that patent owners in MPEG LA’s AVC Patent Portfolio License have filed patent enforcement actions in the Landgericht Düsseldorf, Germany against Hisense Germany GmbH ("Hisense") for infringing patents essential to the AVC/H.264 (MPEG-4 Part 10) digital video coding standard used in mobile devices, televisions and other products. According to the complaints, Hisense offers television products in Germany, which use patent protected AVC methods without licenses with the individual patent holders or a portfolio license that includes these patents offered by MPEG LA. The suits seek monetary damages and injunctions. The plaintiffs are represented by a team led by Axel Verhauwen of Krieger Mes & Graf v. der Groeben and Gottfried Schüll of Cohausz & Florack. MPEG LA, LLC MPEG LA is the world’s leading provider of one-stop licenses for standards and other technology platforms. Starting in the 1990s, it pioneered the modern-day patent pool helping to produce the most wid
Patient Safety Movement Foundation Launches New Commitment Model Supporting Mission to Achieve Zero Preventable Patient Deaths By 203023.11.2020 14:00:00 CET | Press release
Every year, more than 4.8 million patients lose their lives to preventable medical errors worldwide. The Patient Safety Movement Foundation (PSMF), a global non-profit, is committed to achieving zero preventable patient deaths by 2030 and has launched a revised commitment model for hospitals and healthcare organizations to help make its goal a reality. The Patient Safety Movement Foundation’s initial model focused on securing healthcare organization commitments to target the leading causes of preventable harm and death occurring in healthcare facilities. Today’s updates instead ask organizations to commit to building and sustaining a foundation for safe and reliable care – and provide free “Actionable Patient Safety Solutions” (APSS), which include evidence-based best practice summaries and solutions, educational resources and virtual coaching to help organizations integrate these best practices into their existing processes. “Under our previous commitment model, our hospital and healt