Sydney-based Life sciences company Cellmid (ASX:CDY) has signed a new agreement with brand protection and customer connection solutions company YPB Group Ltd (ASX:YPB).
Under the agreement, Cellmid will utilise the YPB CONNECT Consumer Connection SaaS (CONNECT) platform in the marketing of its evolis(R) hair loss products in China.
This contract is YPB's first with an Australian company aimed at advancing a life sciences product into consumer markets.
Cellmid has drug development programs in multiple disease indications. It also has a growing consumer health business through wholly-owned subsidiary Advangen based on its novel FGF5 inhibitor hair growth products.
Branded evolis(R), the products have demonstrated dramatic hair growth efficacy in blinded, placebo controlled clinical studies.
Cellmid sells its hair growth products in Australia and Japan and is expanding distribution in other territories. It has recently secured premium retailer Neiman Marcus as its first retail partner in the US and has been granted import permits and registrations for China.
According to the company, YPB will supply Cellmid with QR labels to be applied to its products.
"In addition to protecting product authenticity, QR codes enable the company's packaging to become data collection and communication points," it said. "Mobile device scanning of the QR code launches a cascade of digital events that sees CONNECT capture and analyse data that gives Cellmid deep knowledge of its consumers and the capacity to develop personalised interactions with them.
"Once that connection is established, CONNECT can then be used for a broad range of personalised education, marketing and promotional activities to enrich consumer experien ce and increase brand loyalty. Marketing costs are expected to be reduced and brand value maximized over time as the relationship between Cellmid and its customers develops."
"We are pleased to help an exciting Australian success story with novel technology to connect with its customers wherever they may be in the world by employing our CONNECT platform," said YPB executive chairman John Houston.
"This relationship with Cellmid also demonstrates that YPB can help propel cross border e-commerce and international brand building by allowing brands to know and connect with consumers who would otherwise remain entirely anonymous. We expect a much greater involvement with Australian exporters, particularly those building their China presence, and we look forward to growing together with Cellmid over the coming three years and beyond."
"Access to the CONNECT platform is expected to be transformative for our consumer strategy in China," said Cellmid CEO Maria Halasz. "Knowing the customer behind each sale means that we can become partners in their hair health and provide tailored, personalised information and products to suit their individual needs. Together with our multilayered strategy to access the Chinese consumer market, the CONNECT platform is expected to improve our return on marketing investment significantly."