Hugel announced on Wednesday that it has entered into a domestic distribution agreement with HansBiomed Corp. for their extracellular matrix (ECM) product, CellREDM.
HansBiomed is the first Asian company to receive establishment approval from the American Association of Tissue Banks (AATB), the world’s most prestigious organization for tissue banking standards, which evaluates quality, safety, and ethical practices.
CellREDM, developed using acellular human dermis (hADM) derived from human tissue, directly supplements the extracellular matrix with components like collagen and elastin, aiding in skin structure restoration. This advancement allows Hugel to offer a more comprehensive solution that goes beyond wrinkle and volume improvement to include skin regeneration.
This agreement marks a significant shift for Hugel, which has primarily focused on developing its own products. It signals the company’s move towards strategic collaborations to expand its portfolio.
The ECM product is expected to create synergies with Hugel’s existing core offerings, particularly as it can be used in conjunction with hyaluronic acid (HA) products and various combination procedures.
To ensure efficient product supply and rapid market penetration, the two companies plan to implement joint promotional activities and commercialization strategies tailored to the unique characteristics and expertise of specialized clinics and hospitals.
Hugel’s Chief Executive Officer (CEO), Jang Doo-hyun, stated that it aims to respond swiftly to the growing demand in the medical aesthetics market while strengthening the industry-leading position. This agreement serves as a launching pad for Hugel’s business expansion, and it will continue to explore diverse business opportunities both domestically and internationally.