Cellmid 2017 Annual Report 5
There were two additions to the patent portfolio during
the year, with the granting of important new patents in
Europe for surgical adhesion, and in Europe and the USA
for alopecia. These key new patents add significant value to
the Company’s patent portfolio underpinning the exciting
therapeutic initiatives being pursued.
On the diagnostic front, the importance of these patents is
evidenced by our steadily increasing revenue from the NZ
company Pacific Edge, which licensed midkine in 2010 for
use in its now widely used CxBladder® test for the diagnosis,
prognosis and disease management of bladder cancer.
Progress in our consumer health division has been no less
pleasing. The recognition of Advangen as a market leader
in clinically validated topical hair loss treatments has been
further strengthened with the publication during the year of
the first FGF5 inhibitor clinical study, and more recently the
Company’s highly encouraging US Consumer Study.
Our marketing efforts in Australia, Japan and more recently
in the USA are now beginning to bear fruit as reflected in
the revenue growth. We are confident that this growth will
strengthen further in all our markets. We are especially excited
by our growth prospects in the USA, where our collaboration
with our distribution partner Colour Collective has been
very successful in establishing premium product branding
for our evolis® Professional range – as evidenced by the
Company’s recently launched partnership with ultra-premium
retailer Neiman Marcus. The renewal after year end of our
Chinese import permit also bodes well for access to that
important market.
Further details on all the significant developments referred
to above can be found in the report of our CEO, Maria
Our small but talented and dedicated professional team at
Cellmid has again excelled, and their efforts are well reflected
in the very good progress of all of the operating businesses
during the year. In thanking the team for their great efforts,
it would be remiss of me not to make special mention
also of the leadership provided by our indefatigable CEO
Maria Halasz. The only note of disappointment is that the
Company’s success in growing and de-risking its businesses
is not well reflected in the share price performance. Your
Board is fully focussed on rectifying this anomaly in the year
I take this opportunity to thank all shareholders for their
support throughout the year.
David King