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With acquisition of JUVA, Haohai Biological Technology’s medical aesthetics business enters an era of “medical end +consumer end” dual presence

On February 21, Haohai Biological Technology announced that it would acquire 63.64% shares in JUVA (Tianjin) Medical Technology Co., Ltd (“JUVA”) with a total investment of RMB 205 million Yuan, including JUVA’s EndyMed RF skin equipment and instruments, Lasercon’s VCSEL laser chips and equipment and Bioxis tissue filler and other main businesses and products into its medical aesthetics business portfolio. This also means Haohai Biological Technology’s medical aestheticsbusiness will enter an era of “medical end + consumer end” dual presence.

 

JUVA’s scope of business

Since its founding in 2008, JUVA has been focused on global specialized life cosmetology and home cosmetology. JUVA controls an Israeli specialized RF listed company EndyMed and a Chinese laser chip and equipment developer and manufacturer with proprietary intellectual property rights——SanheLaserconn Technology Co., Ltd (“Laserconn”) and owns stake in a French innovative biomaterials R&D company Bioxis. Of them, EndyMed focuses on RF skin beautification equipment; Laserconn focuses on exclusive laser skin beautification equipment, with its products mainly exported to overseas markets; Bioxis focuses on hyaluronic acid and chitosan biomedical materials.
 

Holding world-leading proprietary core technologies in hands

JUVA has many R&D centers in China, France and Israel, has established world-leading proprietary core technologies in the fields of semiconductor laser, biomaterials and RF and created many core products, including the multivariate phased RF technology.

 

Several ongoing blockbuster research projects well underway

JUVA conducts clinical trials in China and applies to the National Medical Products Administration (“NMPA”) for marketing authorizations for three hyaluronic acid products under development of Bioxis, with the aforesaid hyaluronic acid products expected to be approved for marketing in succession from late 2021 to late 2022, of which 2 products will be the first of its kind to be marketed in China. JUVA signed the Exclusive Distribution Agreement with Bioxis with respect to China territory, whereby JUVA has the exclusive right to distribute the aforesaid hyaluronic acid products in China.

 

Moreover, Bioxis is also developing MTI12 long-acting filler as a biomaterial extracted from a kind of biological polysaccharide (chitosan), which employs the patented technology of in vivo self cross-linking, i.e., it is liquid before injection and is cross-linked into gel state after being injected into human body, with a maintenance phase of about 2 years. This product is currently at the phase of application for clinical trial, expected to become the first long-acting, degradable chitosan product for use as tissue filler.

 

Laser skin beautification device and laser treatment system, 2 kinds of beautification equipment of Laserconn, are applying for FDA’s marketing authorizations, expected to be approved for marketing by the end of 2021; 2 kinds of beautification equipment, i.e., laser skin beautification device and picosecond laser device, are applying for NMPA’s marketing authorizations and are at the phases of post-clinical data collection and clinical trial respectively, expected to be approved for marketing in 2021 and 2023 respectively.
 

A sales network covering many countries and regions worldwide

 

In terms of sales, JUVA products are sold in many countries and regions worldwide and JUVA has established direct sales offices in China and self-run sales companies in the US, staffed with an efficient e-commerce team targeting the e-commerce market. With a highly competitive product mix and sound synergy among sales channels both at home and abroad, JUVA yielded business revenue of 240 million Yuan in 2019.
 

It is worth mentioning that EndyMed has obtained marketing authorizations in 16 countries and regions worldwide from FDA, FDA-OTC, EU CE and NMPA and sells in the aforesaid countries and regions, of which JUVA has the exclusive right to distribute EndyMed products in China. The vertical cavity surface emitting laser (VCSEL) high-power laser chip and its laser device, products developed by Laserconn alone, have also received EU CE medical device certification, marketed and sold through its in-house sales teams in 37 foreign countries and regions.

 

Equity incentive in support of continuous business development

Moreover, JUVA has international medical cosmetology management and operation teams and globally deployed sales professionals, which also injects “fresh blood” into the development of Haohai Biological Technology’s medical cosmetology business. In order to establish a mechanism of risk and profit sharing among its employees, the company and its shareholders, and attract and retain outstanding management professionals and business mainstay, JUVA’s founders and Haohai Biological Technology jointly established a third-party platform option pool for equity-based incentivizing of the founders and core employees of JUVA, which will hold 10% shares in JUVA.

 

An era of “medical end + consumer end” dual presence

 

JUVA joining Haohai Biological Technology this time is an important move of the company’s medical aesthetics business to expand from “medical end” to “consumer end”. In terms of technology research and development, it helps further supplement and enrich the company’s core polysaccharide cross-linking technology, thus forming a differentiated product positioning and enhancing the company’s innovative R&D capabilities through multivariate phased RF technology and vertical cavity surface emitting semiconductor laser technology. With respect to product mix, both sides will jointly build a complete business matrix the penetrates the three fields of medical cosmetology, life cosmetology and home cosmetology and covers three categories of biomaterials instrument and equipment and skincare products, with a view to providing downstream customers with different product mixes and meeting the diversified market demands. In terms of sales teams, by integrating domestic and overseas direct sales teams and e-commerce teams of both sides and sharing respective existing customer resources of both sides, this will help both sides transform respective technological legacy into differentiated products in order to meet the personalized needs of consumers and increate operation efficiency and sales completion rate.

 

 



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