SOLANA BEACH, CA -- JANUARY 08, 2019 -- Kerastem, the global leader in the development and commercialization of regenerative medicine-based approaches to hair growth and Myungmoon Bio Co, LTD a healthcare company focused on bringing innovative regenerative therapies to market, announce their partnership to commercialize Kerastem’s novel hair growth therapy in South Korea.
“The partnership with Myungmoon represents a significant milestone for Kerastem, providing access to one of the largest and most sophisticated aesthetic markets in the world,” said Bradford A. Conlan, CEO of Kerastem.
Kerastem recently reported 12-month top-line data from its clinical trial (STYLE), a 70 patient, phase II, US multi-center, randomized, single-blinded, and controlled study investigating Kerastem’s therapy in patients with early hair loss. Results from STYLE demonstrated a statistically significant increase in the number of mature hairs in men treated with Kerastem when compared to placebo control. Early hair loss represents a significant unmet medical need and the Kerastem therapy is a one-time treatment that utilizes adipose (fat) derived regenerative cells delivered to the affected area of scalp.
Added Mr. Conlan, “the company is positioned for success considering the excellent results observed from our US phase II clinical trial where a specific dose was identified that grows hair.”
ANDROGENETIC ALOPECIA MARKET SIZE
Hair loss affects more than 25% of all men and women in South Korea alone. The global hair loss treatment market generates more than $7 Billion in revenue annually and currently has limited options for men and women with early stage hair loss.
BIOTECH SHOWCASE 2019
Kerastem will be providing a general corporate update as a presenting company at the upcoming Biotech Showcase 2019 on January 9th at 1:30pm pacific time. The company is actively seeking additional licensing partnerships. Kerastem is a wholly owned subsidiary of Bimini Technologies. The Bimini portfolio includes Puregraft (http://www.puregraft.com), the world’s leading fat transfer solution. In 15 minutes or less, Puregraft products provide surgeons with purified fat for reinjection and are used in hospitals and clinics around the world. The existing Puregraft customer base are ideal prospects for the new Kerastem technology.