Coegin Pharma signs development agreement with Scandinavian Biolabs
Coegin Pharma has signed a Joint Development Agreement (JDA) with Scandinavian Biolabs to develop a portfolio of premium products based on FOL005 for hair growth in selected European countries. This agreement lays the foundation for a potential commercialisation agreement in the future.
The purpose of the agreement is to combine Coegin Pharma's peptide FOL005 with Scandinavian Biolabs' brand and expertise in the hair growth market. The aim is to create premium hair growth products, with a planned launch in selected European countries, with the possibility to expand into other countries and geographical regions.
The agreement focuses on developing a potential product portfolio and brand strategy. The parties will work together to identify and prioritise customer segments, develop the right products, and negotiate a commercial agreement during the first half of 2025, aiming for initial product launch in the second half of 2025.
"We are incredibly pleased to start a collaboration with Scandinavian Biolabs. They are an exciting and expanding company that has already established a strong brand in the industry. We see great potential for us to jointly develop effective and innovative premium hair growth products,"says Jens Eriksson, CEO of Coegin Pharma.
"Coegin Pharma has an incredibly exciting ingredient in FOL005, which has the potential to complement our product range in an excellent way. We look forward to exploring opportunities together to develop even better solutions for hair growth and hair health," says Anders Reckendorff, CEO of Scandinavian Biolabs.
Scandinavian Biolabs is a Danish company founded in 2020, specialising in hair care products with a focus on hair growth and hair health. They have quickly established themselves as a trusted player in the industry, offering a wide range of products based on natural ingredients and scientifically proven formulations. The company sells its products both directly to consumers via its website and through selected retailers, giving it a strong market presence and broad customer base.
For further information, please contact:
Jens Eriksson, CEO
Email: info@coeginpharma.com
Phone: +46 72 221 24 21
This information is information that Coegin Pharma AB is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 17:00 CET on 24 September 2024.
This document is a translation of the original Swedish press release. In case of any discrepancies, the Swedish version shall prevail.
About Coegin Pharma
Coegin Pharma is a Swedish biotech company with dermacosmetic innovations for hair growth and skin pigmentation, alongside groundbreaking drug candidates for the treatment of myocardial infarction and leukemia. Coegin is planning for the launch of its first product series for hair growth in 2025, followed by a skin pigmentation product in 2026.
Coegin Pharma's shares are listed on NGM Nordic SME and Börse Stuttgart, and the company has a registered office in Lund, Sweden.
For more information, please visit: coeginpharma.com/en