CGBio, specializing in bio regenerative medicine (CEO Hyun Seung Yu) announced on the 12th the signing of a memorandum of understanding (MOU) with Brazilian pharmaceutical company CIMED for the supply of its calcium filler, FACETEM, in the Brazilian market.
The signing event was held at the CGBio headquarters, attended by CGBio CEO Hyun Seung Yu, COO Ju Mi Chung, CIMED Chairman Joao Adibe Marques, and Vice-Chairman Carla Marques.
CIMED, the company that signed with CGBio, is one of the five leading pharmaceutical companies in Brazil. It has been experiencing rapid growth in the medicine and health supplement business since its establishment in 1977, consistently expanding its presence in the Brazilian market. By signing the MOU, CGBio aims to enhance the market share of its calcium filler FACETEM in Brazil, the country with the largest population in South America.
Recently, CIMED has unveiled a new aesthetic line called Milimetric, and CGBio’s calcium filler FACETEM will be incorporated into the line for distribution in the Brazilian market. According to the Brazilian Society of Aesthetic Medicine, (Associação Brasileira de Medicina Estética e Colaboradores, ABME), the Brazilian aesthetic medicine market is projected to reach approximately KRW2.64 trillion (BRL10 billion) in 2020 with an annual growth rate of around 20%.
Calcium filler FACETEM is the world’s first filler to employ a lattice-pore structure. This unique feature enables it to retain a firm and stable shape for a longer period than hyaluronic acid fillers while also delivering substantial volume enhancement. In addition, it has exceptional viscoelasticity properties that surpass traditional fillers by more than three times, providing enhanced shaping and voluming capabilities. Moreover, it promotes collagen generation within the skin, leading to improved firmness.
It is made of calcium hydroxyapatite (CaHA), a substance that has a slow dissolving rate in the body. This property allows it to provide natural volume and extend the retention time over three times than hyaluronic fillers. Furthermore, when diluted, it demonstrates remarkable efficacy as a skin booster such as improving the appearance of acne marks, enhancing skin texture, and giving a tightening effect on the skin. Currently, there are only three companies in the world engaged in the commercial production of calcium fillers, and in Korea, only one, which is CGBio.
In last April, CGBio signed a contract worth approximately KRW16.5 billion for the supply of FACETEM to Argentina and France during the Aesthetic and Anti-aging Medicine World Congress (AMWC) 2023, the world’s largest conference dedicated to plastic surgery and aesthetic medicine.
CGBio CEO Hyun Seung Yu said, “We are pleased to enter the Brazilian filler market, which is showing explosive growth due to its population of 200 million. We believe that our FACETEM has a strong competitive edge in South America, where calcium fillers are preferred over hyaluronic acid fillers”, adding “We will dedicate our best efforts to expand the market share of Korean calcium filler FACETEM in Brazil through the strategic partnership with CIMED”.
In last April, CGBio’s smart factory S-Capmus obtained the Brazilian Good Manufacturing Practices (BGMP) certification from the ANVIS (Brazil’s national health surveillance agency), signaling its determined entry into the Central and South American market. Expanding on this milestone, CGBio is actively introducing its calcium filler and hyaluronic filler products to countries across South America. Actually, overseas sale surged by 250% from KRW7.2 billion in 2020 to KRW18 billion last year.
