Croma GmbH / Hugel Inc
Exclusive Financial Advisor to Croma in constructing a 70-30% US- based exit JV to be majority- led by Korean Toxin specialist Hugel Corporation and concurrent Divestiture of its Canadian and Australian Subsidiaries to Hugel.
Acted as an exclusive financial advisor to the Board of Croma GmbH, Leobendorf, in the partnering of the US assets of its Wilmington, Delaware-based Subsidiary Croma Inc, consisting of highly differentiated anti-ageing techniques, a self-developed and manufactured Hyaluronic acid Princess® Filler and innovative lifting threads based on polydioxanone – PDO sutures to personalize the client experience by providing a full range of effect duration and structures. The pipeline also included the In-Licensed botulinum toxin “Botulax” from Hugel Inc, which is under two clinical trials with the support of prestigious US KOLs (BLESS I & II), to be FDA-approved in 2020 and launched in 2021 to target the two largest nonsurgical procedures with the highest growth rate.
Croma has signed a 70%-30% JV agreement with their longstanding Korean Toxin-Maker Partner Hugel Corp., enabling them to perform a major step forward in their plan preparing a successful launch of Hugel’s Botulinum Toxin, HA filler and PDO thread products on the US market capitalizing on Hugel’s $90,000,000 cash injection and future commitments in exchange for 70% of the JV.
Croma transferred to this JV 100% of its US subsidiaries assets, the distribution rights of Botulax to the US, Canada, Australia and New Zealand, as well as 100% of the shares of its subsidiaries in Canada and Australia in exchange for 30% of the US joint venture. The newly established joint venture will obtain a permanent license for HA fillers and products with PDO threads from Croma and Hugel’s botulinum toxin product in the aforementioned areas.