This new clinical trial is being conducted through their partnership with Lanzhou Biotechnique Development Co., LTD (LanDev) and their parent company China National Biotec Group Co., LTD (CNBG) and will be used to seek marketing approval in China
BROOKLINE, Mass., June 24, 2021 /PRNewswire/ -- Advanced Aesthetic Technologies, Inc. (AAT), a leader in aesthetic gel implant technology, is proud to announce the initiation of a clinical trial for their Algeness® VL (2.5% Agarose Gel) Filler in China in partnership with Lanzhou Biotechnique Development Co., LTD (LanDev) and their parent company China National Biotec Group Co., LTD (CNBG) This study aims to evaluate the effectiveness and safety of Algeness® VL (2.5% agarose gel) in the treatment of moderate to severe nasolabial folds with commercially available hyaluronic acid fillers for injection as a control. The study will provide further clinical evidence for the product to apply for NMPA marketing authorization in Mainland China.
According to Doug Abel, CEO of AAT, "China's aesthetics market is growing faster than the global market. The size of the Chinese population and relatively low market penetration of aesthetics and filler treatments in China present enormous potential for future growth. Our novel Algeness® range of dermal fillers is the first 100% natural, biocompatible and fully biodegradable filler on the market to date, which differentiates it from other injectable products. We are very pleased to commence the pursuit of registration in China through our strategic partner, Lanzhou Biotechnique Development Co., LTD (LanDev) and their parent company China National Biotec Group Co., LTD (CNBG)."
From 2015 to 2019, the global aesthetic medicine market grew steadily, with a compound annual growth rate (CAGR) of around 8.2%. China market grew from RMB 64.8 billion in 2015 to RMB 176.9 billion in 2019 – an impressive 28.7% CAGR. The domestic market is poised to grow at a 15.2% CAGR between 2020 and 2023 (versus 7% globally), following a period of adjustment.1
Wu Qiang, General Manager of Lanzhou Biotechnique Development Co. Ltd commented, "We are proud to work with the AAT team to bring this revolutionary injectable product to the Chinese market. We believe the distinct advantages and high safety profile of the Algeness® gel filler will resonate with aesthetic physicians and introduces a new category of biodegradable products to our growing portfolio."
Algeness® 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.
About Advanced Aesthetic Technologies, Inc.
AAT is a fast growing, global corporation developing new technologies for aesthetic medicine. Our lead products, the Algeness® family of injectable implants, are the culmination of more than 10 years of scientific and clinical research and were developed with the goal of providing aesthetic injectors advances in the ability to achieve deep structural support, clean definition, and exceptional clinical outcomes where the result at the time of treatment is the final outcome. Algeness® is a 100% natural and biodegradable filler based on purified agarose with a differentiated clinical and safety performance profile. AAT continuously invests in research and product development to expand the scientific knowledge on Algeness® and agarose as well as in pursuit of new and innovative technologies to enhance aesthetic medicine and expand our product portfolio. Algeness® is CE Marked, has multiple additional country level registrations, and is currently available in over 30 countries. AAT is in the process of pursuing registration in the US through the FDA. www.algeness.com
About Lanzhou Biotechnique Development Co., LTD (LanDev) and their parent company China National Biotec Group Co., LTD (CNBG)
China National Biotec Group Co., LTD (CNBG), founded in 1919, is a wholly owned subsidiary of China National Pharmaceutical Group Co., Ltd., one of the world's top 500 enterprises. As a comprehensive biopharmaceutical enterprise, CNBG has a long history with complete product lines and large scale, integrating scientific research, production, sales, and postgraduate training. CNBG's product lines cover six major biological product fields, including human vaccines, blood products, medical beauty, animal health, antibody drugs, and medical diagnosis. www.cnbg.com.cn
Lanzhou Biotechnique Development Co., LTD (LanDev), is a leading medical and beauty health professional company in China. Its business covers botulinum toxin, hyaluronic acid, collagen, laser beauty equipment, etc. LanDev is the exclusive manufacturer of botulinum toxin A (BTXA)-Hengli® in China that enjoys an approximate 70% market share for BTXA in China.
Hengli® has been sold for more than 20 years and has accumulated more than ten million of clinical use cases. At the same time, LanDev is the exclusive distributor in mainland China of Princess, the hyaluronic acid fillers produced by CROMA-Pharma GmbH, an Austrian company. LanDev has also established an indepth strategic partnership with Cynosure, an industry leading U.S. company. LanDev is becoming an innovative enterprise leading the development of the domestic industry with its growing international competitiveness and social respects.