The cosmetic industry is enormous, as everyone already knows. Beauty ideals continue to push the market forward and higher; specifically, the global facial care market, which is forecast to be worth $40 billion by 2019. To look closer, skin lightening and anti-aging are two of the biggest, most rapidly growing sectors of the global beauty industry and companies are becoming increasingly technology focused to improve existing products and introduce ground-breaking innovations. Consumers are also looking for products with more scientifically-proven results and that’s exactly what I wanted to introduce to you here today.
What has been driving the skin lightening market is the strong demand in Asia-Pacific, particularly in India, Japan, and China according to research by Global Industry Analysts (GIA). In Asia-Pacific, fair skin is associated with youth, beauty, and prosperity. The growth in Asia-Pacific can also be contributed to the changing of consumer lifestyles with an increase in disposable incomes and greater media intervention.
In the West, skin lightening agents are mainly used for reversing sun damage and reducing the appearance of freckles and dark spots to appear younger and healthier. Additionally, the growth in the ethnic populations in the UK and the US has helped grow the Western market.
The global skin lightening market is expected to reach $20 billion by 2018. Even though the market is dominated by female consumers, there has been a steady increase in the market for men’s skin lightening products. What is also interesting is that products no longer target just the face but are used on the whole body.
The biggest factor increasing anti-aging products popularity is the global ageing population. It is estimated that the global anti-aging product industry will grow at a CAGR of 6.77% overall.
The most common skin lightening agent is hydroquinone which has been linked to cancer and has been banned in Europe since 2001. The need for a safer, more effective agent is apparent. Sirona Biochem ($SMB:CA) is working towards meeting that need using their innovative and proprietary technology. Sirona was awarded an innovation grant worth $1.9 million by the French government to develop the cosmetic skin lightener program to a commercial ready stage.
On March 11th, Sirona presented at the BIO-Europe conference announcing the successful development, and test results of a third innovative skin-lightening compound. The new skin lightener, TFC-1067, has superior safety with zero hydroquinone release, and eight times the efficacy of deoxyarbutin.
TFC-1067 has also been proven to have the capacity to reach the site of action in the epidermis and to have additional antioxidant properties. The results from the studies support the company’s belief that they have developed the safest, most effective skin lightener in the world.
At the conference, they also released preliminary study results of the glycoprotein program for anti-aging and regenerative medicine. The glycoprotein compound has enormous potential for other uses including vaccine preservation and organ transplant.
Sirona’s anti-aging compound that they are currently developing is based on the naturally occurring antifreeze glycoproteins found in Antarctic fish. 80% of visual aging is related to cell death, and the compound they developed has been scientifically proven to extend cell life and prevent cell death. Derived from Sirona’s proprietary chemistry technology, the novel compounds can protect people’s skin cells from the stresses of natural aging and environmental effects. The compounds also have potential to be used in organ and tissue transplants.
Besides the skin-lightening and anti-aging compounds that are being developed, Sirona has also begun to make a name in terms of Type 2 diabetes treatment. In a partnership with Wanbang Biopharmaceuticals, a successful toxicology study has been completed in the pre-clinical validation of its anti-diabetic SGLT2 Inhibitor, SBM-TFC-039. The study showed Sirona’s compound to be better in terms of dosage tolerance compared to Canagliflozin, Johnson and Johnson’s SGLT2 inhibitor for Type 2 diabetes that has been on the market since 2013. This will lead to second line testing which is the last step before moving towards investigational new drug status and clinical testing in humans.
Overall, Sirona continues to show success across all sectors they have entered. Sirona is looking to maintain multiple partner opportunities to continue to broaden their pipeline. They are already anticipating two big partnering deals for 2015 so make sure you keep Sirona Biochem on watch now.
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