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SOUTHLAKE, Texas, Jan. 8, 2024 /PRNewswire/ -- Novaestiq Corp., a growth-oriented aesthetic and medical dermatological innovations company, focused on delivering a platform of creative solutions to practices and patients, proudly announces its definitive agreement with Croma-Pharma GmbH to be the exclusive U.S. distributor of the Saypha® line of dermal fillers. This new partnership builds upon Novaestiq's existing collaboration with Croma-Pharma to develop innovative, next generation dermal fillers leveraging novel cross-linking capabilities.
In addition, Novaestiq is pleased to announce that it has entered into exclusive negotiations to combine with Coronado Aesthetics, LLC owners of Sebacia™, FDA-cleared gold microparticles, indicated for use with 1064 nm lasers to treat acne vulgaris and a first-in-class FDA-cleared silver photo-particle topical gel indicated for use with 810 nm diode lasers for removal of light-colored hair. Both products will be branded under the Novaestiq aestheticIQ™ intelligence platform and will commence launch later this year. This combined offering of innovative products allows Novaestiq to cater to a substantial segment of the U.S. cash-pay aesthetics market whilst supporting improved practice economics.
"These pivotal developments signify our transition into a multi-product and practice-centric aesthetic company dedicated to customer excellence," shared Miles Harrison, Co-Founder, CEO & President. "With an expanded portfolio including two FDA-cleared products, two pending FDA submissions, and two candidates approaching Phase 3 trials, Novaestiq is set to realize its vision of Aesthetics for All™."
Benefiting from a team of seasoned leaders and support from a broad range of industry and academic experts, Novaestiq has secured a suite of groundbreaking products and is designing a platform of services that will set new benchmarks within the aesthetics industry. This combination positions the company for rapid expansion in the large, growing, global aesthetic market.
Humberto C. Antunes, Chairman of Novaestiq and Partner at Gore Range Capital, remarked, "Novaestiq's ambition to offer innovative, safe, and efficacious products is commendable. Their world-class leadership combined with a market eager for fresh ideas will position Novaestiq as a significant contributor in the aesthetics industry."
Andreas Prinz, Managing Director, Croma-Pharma shared that "Novaestiq's exceptional leadership brings proven commercial capabilities in aesthetics, which makes them an ideal partner to develop and commercialize our strong pipeline of HA Fillers in the US market."
To accelerate the commercialization of its assets, Novaestiq is working with Salem Partners, LLC, a leading Los Angeles and Dallas-based investment bank and wealth management firm, to act as exclusive financial advisor for Novaestiq's upcoming financing round. Salem Partners and its affiliates are the primary investors in Coronado Aesthetics and will become significant stakeholders in Novaestiq following the business combination.
About Novaestiq
Novaestiq is a private, growth-oriented company that boasts a broad range of aesthetic and dermatology products that are both practice and patient/consumer focused. With a strong emphasis on product and service innovation, customer collaboration, and service excellence, Novaestiq is set to redefine industry standards. www.novaestiq.com
About Gore Range Capital
Gore Range Capital is the only venture capital firm focused on innovation in the skin health and aging space. It partners with leading medical experts, renowned scientists, industry and portfolio companies to find new treatments for dermatological conditions and bring skin health innovations to market. www.gorerangecapital.com
About Croma-Pharma
Croma-Pharma is a global player in the minimally invasive aesthetics market and a leading European manufacturer of premium quality hyaluronic acid syringes. The company offers a comprehensive and innovative aesthetics portfolio including botulinum toxin, fillers, lifting threads and biostimulators complemented by its own skincare brand. Founded in 1976 by a pharmacist couple, Croma-Pharma GmbH is a family company headquartered in Austria where it also operates its manufacturing plant. With 550 employees, 13 subsidiaries in Europe and Brazil, a joint venture and 60 exclusive export partners, it distributes its products in 80 markets globally, including the US/Canada, China and Australia/New Zealand. It also operates as a contract manufacturer in orthopedics and ophthalmology. www.cromapharma.com/
About Salem Partners
Salem Partners is a leading Los Angeles and Dallas-based investment bank and wealth management firm. Further, Salem Partners and its affiliates are the primary investors in Coronado Aesthetics. www.salempartners.com
About Coronado Aesthetics
Coronado Aesthetics is an emerging aesthetic dermatology company based in Southlake, Texas. Founded in 2021, Coronado has acquired extensive intellectual property around topical microparticles for use with dermatologic lasers. The portfolio includes two assets that have recently been FDA-cleared for use in patients. www.coronadoaesthetics.com
Novaestiq Contacts
Miles Harrison, Co-Founder, CEO & President
inquiries@novaestiq.com
