SkinBioTherapeutics (SBTX) , a life science business focused on skin health, announced the launch of "Pheet and Dermatonics Once Heel Balm" by its newly acquired company Dermatonics. The product will launch in Asia, Middle East and Africa in partnership with Umesh Modi Group, following the signing of a manufacturing and distribution agreement on June 30, 2023.
The "Pheet and Dermatonics" products are used for the treatment of dry foot skin and sold under the Dermatonics brand in the rest of the world. The "Once Heel Balm" product will be manufactured by the Umesh Modi Group and sold directly by its team of 1,200 people based in 6 countries, including India, Bangladesh, Sri Lanka, and Nigeria.
Greg Andrell, founder of Dermatonics, commenting: "We have been working on this project for several months now and the launch of our brands is the end result of a lot of detailed preparation. We are excited by the potential opportunity of building sales in these rapidly growing regions."
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SkinBioTherapeutics is launching "Pheet and Dermatonics" products in partnership with Umesh Modi Group, through its subsidiary Dermatonics, acquired in January 2024. The products will be sold by Umesh Modi across the Asia, Middle East and Africa (AMEA) region, with a total addressable market for dermatology and diabetes management of £5 billion.
Umesh Modi is an established, privately-held Indian conglomerate based in New Delhi, with a strong presence across multiple sectors including pharmaceuticals, Fast Moving Consumer Goods (FMCG), colour cosmetics, alcoholic drinks, sugar, engineering, power generation, retail, and real estate. The group is supported by an extensive manufacturing campus, producing goods to international standards including UK MHRA for pharmaceutical products.
The collaboration is currently at an early stage, therefore SBTX management does not expect any changes to market expectations at this stage. However, the partnership unlocks significant opportunities for SBTX's other products, therefore we see material upside potential for AMEA in the near term.
Umesh Modi is in good company among SkinBioTherapeutics' long-standing partners in Europe and the US, including Mundipharma, Merz Pharma, Zambon, Pierre Fabre, Norgine, Perrigo, William Grant, IFF/Dupont, and Revlon.
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