#Austria #Croma-Pharma #Novaestiq #Waldencast #Leobendorf

Croma-Pharma's Strategic Move: Novaestiq Joins Waldencast

Croma-Pharma GmbH, a significant player in minimally invasive aesthetic medicine, has taken an exciting step forward with the announcement of Novaestiq Corp. joining Waldencast plc (Nasdaq: WALD). This strategic acquisition marks a crucial milestone in Croma-Pharma's ongoing commitment to delivering scientifically validated aesthetic solutions across the globe.

A New Chapter in Aesthetic Medicine

The partnership centers around Novaestiq, which was previously a joint venture with Gore Range Capital. Novaestiq is renowned for its innovative products, particularly the Saypha® ChIQ™ and Saypha® MagIQ™ injectable hyaluronic acid gels. As part of this merger, these products will soon make their debut in the U.S. market under the prestigious Obagi Medical brand.

Andreas Prinz, CEO of Croma-Pharma, expressed enthusiasm about the merger, highlighting the amplifying potential of joining forces with Waldencast. This venture will not only enhance the reach of their innovative products but also reinforce the commitment to advancing aesthetic medicine through science and research.

Expanding Croma's Portfolio to the U.S.

The introduction of Saypha® injectables to the U.S. will follow an extensive FDA approval process, backed by a robust clinical program. This program includes pivotal studies that adhere to and often exceed industry standards for diversity and size. The shared commitment of both Obagi Medical and Croma-Pharma makes this launch noteworthy, as it aims to cater to the diverse needs of the audience it serves.

Croma-Pharma has a rich history dating back to its founding in 1976, focusing on the production of hyaluronic acid syringes and other minimally invasive aesthetic treatments. With over 110 million syringes produced and approval across more than 80 markets, the company's experience places it among the leaders in the aesthetic medicine field.

The Road Ahead

As Waldencast takes significant steps towards making the Saypha® line available to U.S. physicians and consumers, the synergy between innovative thought and operational might promises to redefine aesthetic possibilities. Reinforcing its operational scale with a unique blend of creative and commercial strategy, Waldencast seeks to ensure that its brands maintain their distinctive characteristics while gaining the benefits of a streamlined, multi-brand platform.

Prinz's remarks underscore the potential impact of this partnership: "We are excited about the capabilities and resources Waldencast brings to the table. This collaboration is a testament to innovation strength and the drive to achieve excellence in aesthetic medical care."

About the Companies

Croma-Pharma GmbH is a family-owned enterprise, leading in aesthetic medicine with products designed for patient satisfaction and safety. The company provides a vast portfolio that includes hyaluronic acid fillers, PDO threads, and botulinum toxin.

Waldencast focuses on creating scalable, purpose-driven beauty and wellness brands all while staying true to its unique characteristics. It aims for operational excellence to support brands and maintain sustainability without sacrificing individual brand essence.

Obagi Medical, holding a legacy of more than 35 years, is recognized for its advanced skincare solutions designed for various skin concerns, making it a top player in professional skincare.

As the launch of Saypha® injectables approaches, the collaboration highlights an exciting future for aesthetic solutions stemming from science and innovation. The market anticipates these developments with great eagerness, poised for enhanced options to promote beauty and well-being for consumers around the world.