Multiple Near Term Growth Triggers

We believe Cellmid’s FGF5 inhibition assets give them a compelling USP in the global competitive landscape for the US$7bn hair loss and US$24bn anti-aging haircare markets. Hair loss and poor hair quality are increasingly becoming problems caused by poor lifestyle choices and environmental factors (such as stress and nutritional deficiencies), rather than being driven purely by genetics and the aging process.

Of great significance is the fact that 40% of women have visible hair loss by the time they are aged 40, which has serious negative consequences to an individual’s psychological and emotional wellbeing. Also, Cellmid’s products, based on 100% natural actives, should benefit from the shift of consumers towards products which have natural ingredients.

We believe there are multiple triggers for growth each which could have a material impact on sales or the valuation of the company.

Some of these triggers include:

• Continued expansion of sales into the United States by launching in additional high-end retail outlets, such as NeimanMarcus and Bloomingdales. 
• An expansion of the existing partnership with QVC Japan, such as via QVC China and QVC Germany.  
• Entering into additional foreign markets such as China through their partnership with Fukagren.