Advanced Aesthetic Technologies, Inc. (AAT), a leader in aesthetic gel implant technology, and China National Biotec Group (CNBG), a subsidiary of China National Pharmaceutical Group Corporation (SINOPHARM) today announced the execution of strategic cooperation agreements. This new relationship is based on CNBG’s recognition of AAT products and AAT’s recognition of CNBG’s leading position in the biopharmaceutical field in China, and 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 into AAT, and Lanzhou Biotechnique Development Co., LTD., a subsidiary of CNBG (hereinafter referred to as “Lanzhou Company”) will be responsible for obtaining required Chinese regulatory approvals and the distribution of AAT products, Algeness(R) in mainland China.
CNBG is the largest Chinese biopharmaceutical company and the Lanzhou Company is the sole producer of botulinum toxin in China. Hengli(R) (LANTOX) is the market leading botulinum toxin in the China market, distributed to over 6500 medical aesthetics institutions in China and holds over 75% of the Chinese BTXA market.
Advanced Aesthetic Technologies, Inc.’s Algeness(R) is a patented family of fully resorbable injectable gel implant dermal fillers that are 100% natural, providing advantages in terms of safety, skin rejuvenation, and natural looking results both at rest and during facial movement. Typical clinical advantages include minimal swelling upon injection and immediately visible results. Algeness holds a CE Mark and is currently distributed in over 30 countries worldwide. AAT has begun efforts to obtain US FDA approval.